Where a Settlement Bank has defaulted on its payment obligations to CDP pursuant to Rule 8.3.4, CDP shall give the Clearing Bank a SB Default Notice. The Clearing Bank shall pay to CDP the Net-Net Debit Balance or any shortfall thereof, as set out in the SB Default Notice by such time on the same Settlement Day as agreed between CDP and the Clearing Bank.

Amended on 25 February 201125 February 2011.