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<br />fIÞbIc s.amtSet A ~ <br />t8O Broad 5Þ'Ht. N.w ~ NY t 0004--Z373 <br />..rlp.~- (212) 8C»-7DOO <br /> <br />PSR <br /> <br />I' <br /> <br />MASTER REPURCHASE AGREEMENT <br /> <br />.. ttt ....: <br /> <br />Dat8cf .. of <br /> <br />~ <br /> <br />J <br />end <br /> <br />t. AppnClbrm, <br />From time Ie) time the par1Jes hereto may ent.r 1mD transae5ons ., wNc:h one party rSerrt" a;rea <br />Ie> transfer to the o1t'ter C'Buyt" MCurftitS or finardar hsWments rs.curtUts, agaInst ~ tran.sflf fit <br />iInds by B~'r. wfth a .rmuPtlneous agrHrnent by Buyer to tansf,r to Sen,r 8Uch s.curlUtS It a datt <br />certaIn or on cftmand, agaJns1 the transfer of funds by Sener. Each such transactfon 8haJI be rtr'lT8d to <br />"'rtIn as a "'Ji'ansaction- and ahan be ¡ovtmed by tús Agrltment. Induding any suppltmental t8ImI <br />or c:cndiUons CIOtWIIned ~ Annex I hereto. unress otherwlst a¡reed ¡, ~ <br /> <br />z. o.nnlUona <br />(a) -Ad of rnsolv,nco¡. wf1h "sped to 81'1'/ party. (I) the commencement by Iud\ paJtt u debtor fit <br />81ft case or prOCHding under any bankruptcy. InsoIvtncy, reorganIzatIon, Iqutdation. cflSSOlutlon or <br />limit., law. or stith party seeking the appoIntment of a rtcIrver. trust.., custodian Of .rmltar ofrldaJ tIr <br />8Ud\ party or any substantIal part of Its property, or (II) the commencement or any Iud\ case or prooetdln; <br />agaInst such party. or another selkIng such an appointment. or IhI filing agaInst. pat1yof an application <br />tit. protediv, deer" under the provisions of IN Se<:urtUts Investor Prottåion kJ. of 1870. which (~ <br />II consented Ie) or not Iitnefycontes1ed by IUc::h party. (8) "sufis In 1he entry of an order tor rtU". such <br />an appointment. f)e Cssuance of auc:f\ a ptottdlv, deer" or the entry of an ortStr haYIng a almIt&r tff8d. <br />or (C) Is not dismissed wMln 15 dlys. (Iii) .... making by . party of I general ustgrvn.ent for h ben8ftt <br />of cred'l1ors, or (iY) the admission ~ wrtting by. paI1y of IUc::h paIty',1nabWty to pay suc:t\ p&rtýI dttItI <br />as they beœme due; <br />(b) "A.ddifjonaJ Purchased Securfties~ MCutties pt'O'ticSed by Sen.r to Buyer pur'luant to Paragrçh <br />4(a) hereof; <br />(c) "Buyer's Marg'n Amounf". wt!h respect to any "Itansadion as or IffY dat-.. tbt amount obtafnld <br />by appric:.ation of . percentage (which may be equal to the percentage !hat Is 'WHd 10 as the Stn"" <br />Marg'n Amount under subparagraph (q) of this Paragraph), agreed 10 by BIJ'tI' and Sent' prior 1C tntlr\n; <br />Into the Transac1ion. to thl Repurchase Pôce for luc:h 1íansae1ion as of sue" da!e; <br />(d) -Confirmation-. the meaning specffied In Paragrçh 3(b) hereof; <br />(I) -Income~ wi1h respec1 to Iny ~ at I1t'f time. 81'1'/ prindpar 1hertOf f)en plyabIt and II <br />Interest. dividends or other distnbutions thereon; <br />(t) -Margin Deficit-. the meanIng specified In Paragraph .e(I) hereof: <br />(g) "Margin Excess-.1he meaning specKieCS In Paragraph Clb) hereof; <br />(1\) "Ma¡1(et Va'u,-. with respect 10 any StC\.1riUes as of Iny date. the prfc:e for such Securfties en <br />such date obtained from . generany recognized IOUrC8 agreed 10 by the parties or thl most rlClnt <br />dosIng bid quotation from luch a source. plus ac:crved Income to thl lx1entnot Included thereIn (othtf <br />hn any Income credited or transferred. to. or çp6ed to the obligations of. Senor pursuant Ie Paragraph <br />S her .of) as of sud\ date (unless contrary to ma~lt practice for such Seanttill);' <br /> <br />- <br /> <br />19 <br />