Revolving Subordinated Loan Agreement

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(1) This appendix contains minimal and non-exclusive requirements for satisfactory subordination agreements (hereafter referred to as the „subordination agreement“). The audit authority may require either the broker or trader to include other provisions deemed necessary or appropriate as long as these provisions do not result in the bid agreement not meeting the minimum requirements of this Schedule (D). (ii) Notwithstanding the provisions of paragraph b) (8) of this appendix, a subordination agreement may provide that, if the liquidation of the broker or trader`s activities has not yet begun, the broker or trader`s obligation to pay, as well as accrued interest or accrued allowances, may be due as a result of a delay event (as defined below). Such an agreement may also provide that, if the liquidation of the broker`s or trader`s activity has not yet begun, the rapid and orderly liquidation of the broker`s or trader`s activity begins upon the onset of an incident. Any subordination agreement providing for the expiry of the payment obligation in the event of a late event, Also provides that in the event of a non-liquidation of the broker or trader, the date on which such a late event occurs is the date on which the broker`s or trader`s payment obligations are due with respect to all other outstanding subordination agreements, but that the rights of the respective lenders to receive the payment, as well as accrued interest or allowances, remain unclear, as stipulated in the provisions of this table. Failure events that can be included in a subordination agreement; the broker or trader is not submitted to the regional office in the region where the broker or trader has its head office (if a regional office is not its audit authority), copies of a proposed bid agreement or the statement described above, if the audit authority has agreed, for that broker or trader, to submit periodic reports to the Commission (no less than months) that have been approved by the audit authority. These reports should include at least the amount of the loan and its duration, the lender`s name and the lender`s business relationship with the broker or trader. (A) The Needs Guarantee Agreement refers to an agreement (including the associated guaranteed application note) that cedes or regulates the contribution of a secured debt note to a broker or trader and the collateral of securities and/or cash with the broker or trader as collateral to ensure payment of that guaranteed application note.