Eligible NSCC Margin Deposits

Eligible NSCC Margin Deposits. NSCC Margin Deposits, other than any such deposits relating to individual transactions that are outstanding for more than five Business Days, and excluding any portion of any NSCC Margin Deposits (a) relating to losses incurred by the Borrower for its own account or the account of any of its Affiliates or (b) which, as reasonably determined by the Borrower, acting in good faith, is subject to any counterclaim, deduction, defense, setoff or similar rights by NSCC or DTC other than to the extent... constituting or arising out of the underlying obligation for which such deposit was delivered (but only to the extent of any such counterclaim, deduction, defense, setoff or similar rights). The amount of Eligible NSCC Margin Deposits for the Borrower at any time shall not exceed the NSCC Deposit Requirements applicable to the Borrower at such time. View More