(a) the obligation of the receiving Principal to pay the consideration for the transfer is replaced by the obligation of the receiving Principal to pay that consideration to CDP;

(b) the obligation of the delivering Principal to transfer the securities to the receiving Principal's Designated Securities Account is replaced by the obligation of the delivering Principal to transfer the securities from the Designated Securities Account to CDP; and

(c) CDP is obliged upon receipt of the consideration for the transfer from the receiving Principal to transfer the securities to the receiving Principal's Designated Securities Account and to pay the said consideration to the delivering Principal.