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6.4.1

CDP shall be entitled (but shall not be bound) to cancel all or any of the Principal's DVP transactions, including, transactions which have been matched and validated in advance in the following circumstances:

(1) where the Principal, the Settlement Bank or the Clearing Bank has defaulted or breached any provision of these DVP Rules;
(2) where the Principal, the Settlement Bank or the Clearing Bank has been suspended pursuant to these DVP Rules; or
(3) where an Event of Default as set out under the Clearing Rules has occurred in respect of the qualifying Clearing Member of the Trading Member for the transaction.

Amended on 3 October 20093 October 2009 and 22 April 201322 April 2013.