Common use of Federal Deposit Insurance Corporation Improvement Act Clause in Contracts

Federal Deposit Insurance Corporation Improvement Act. The Parties acknowledge and agree that this Agreement constitutes a “netting contract,” as defined in and subject to Title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991, as amended (“FDICIA”), and each payment entitlement and payment obligation under any Transaction shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation,” respectively, as defined in and subject to FDICIA (except insofar as one or both of the parties is not a “financial institution,” as that term is defined in FDICIA).

Federal Deposit Insurance Corporation Improvement Act. The Parties acknowledge and agree that this Agreement constitutes a “"netting contract,” " as defined in and subject to Title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991, as amended (“"FDICIA”"), and each payment entitlement and payment obligation under any Transaction shall constitute a “"covered contractual payment entitlement” " or “"covered contractual payment obligation,” " respectively, as defined in and subject to FDICIA (except insofar as one or both of the parties is not a “"financial institution,” " as that term is defined in FDICIA).