(b) the ex-dividend date for the payment of any dividend on any gilt-edged securities which have been delivered to a party as Margin Securities occurs before Equivalent Margin Securities have been delivered to the other party. 7.2 For the purposes of paragraph 4 of the Agreement - (a) where paragraph 7.1(a) above applies, from the period from the ex-dividend date until the Termination of the Transaction, Buyer shall be deemed to have received a payment of Cash Margin equal to the amount of the dividend payable on the Purchased Securities by reference to that ex-dividend date: (b) where paragraph 7.1(b) above applies, the party which has received those Margin Securities shall. from the period from the ex-dividend date until Equivalent Margin Securities are delivered to the other party. be deemed to have received a payment of Cash Margin equal to the amount of the dividend payable on those Margin Securities by reference to that ex-dividend date. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038057 CONFIDENTIAL SDNY_GM_00184241 EFTA01353613