then subparagraphs (b) to (I) below shall apply. (b) The Repurchase Date for each Transaction hereunder shall be deemed immediately to occur and, subject to the following provisions. all Cash Margin (including interest accrued) shall be immediately repayable arid Equivalent Margin Securities shall be immediately deliverable (and so that. where this subparagraph applies, performance of the respective obligations of the parties with respect to the deli, eri of Securities, the payment of the Repurchase Prices for any Equivalent Securities and the repayment of any Cash Margin shall be effected only in accordance with the provisions of subparagraph (c) below). (c) (i) The Default Market Values of the Equivalent Securities and any Equivalent Margin Securities to be transferred, the amount of any Cash Margin (including the amount of interest accrued) to be transferred and the Repurchase Prices to be paid by each party shall be established by the non-Defaulting Party for all Transactions as at the Repurchase Date; and (ii) on the basis of the sums so established, an account shall be taken (as at the Repurchase Dale) of what is due from each party to the other under this Agreement (on the basis that each patty's claim against the other in respect of the transfer to it of Equivalent Securities or Equivalent Margin Securities under this Agreement equals the Default Market Value therefor) and the sums due from one party shall be set off against the sums due from the other and only thc balance of the account shall be payable (by the party having the claim valued at the lower amount pursuant to the foregoing) and such balance shall be due and payable on the next following Business Day. For the purposes of this calculation, all sums not denominated in the Base Currency shall be converted into the Base Currency on the relevant date at the Spot Rate prevailing at the relevant time. (d) For the purposes of this Agreement. the "Default Market Value- of:my Eq