transfer

(viii)The term “transfer” means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with property or with an interest in property, including retention of title as a security interest and foreclosure of the equity of redemption of the regulated entity. (E)Notwithstanding any other provision of this section, any other Federal law, or the law of any State (other than paragraph (10) of this subsection and subsection (b)(9)(B)), no person shall be stayed or prohibited from exercising— (i)any right such person has to cause the termination, liquidation, or acceleration of any qualified financial contract with a regulated entity in a conservatorship based upon a default under such financial contract which is enforceable under applicable noninsolvency law; (ii)any right under any security agreement or arrangement or other credit enhancement relating to 1 or more such qualified financial contracts; or (iii)any right to offset or net out any termination values, payment amounts, or other transfer obligations arising under or in connection with such qualified financial contracts. (F)No provision of law shall be construed as limiting the right or power of the Agency, or authorizing any court or agency to limit or delay in any manner, the right or power of the Agency to transfer any qualified financial contract in accordance with paragraphs (9) and (10), or to disaffirm or repudiate any such contract in accordance with subsection (d)(1). (G) (i)Notwithstanding the provisions of subparagraphs (A) and (E), and, no walkaway clause shall be enforceable in a qualified financial contract of a regulated entity in default.

Source

12 USC § 4617(d)(8)(D)(viii)


Scoping language

None: Default is title Scope
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