Fannie Mae and Freddie Mac CDS Credit Event Auctions
Except as required by any applicable laws, rules, regulations, guidelines or procedures (including internal guidelines or procedures) or in any judicial or arbitration proceeding, Final Price values and the data used to calculate them in respect of any Reference Entity may only be used for the purpose of (a) providing a basis for the settlement of credit derivative transactions upon the occurrence of a Credit Event with respect to such Reference Entity and any other securities or instruments that reference such Reference Entity and (b) any related reports, calculations, indices, valuations, statements or other use permitted by license. Notwithstanding the foregoing, the Final Price values and related data may not be:
- (i) sold or re-sold;
- (ii) used in any way that may facilitate manipulation of the Final Price generated by any auction conducted through ISDA or decrease liquidity in any such auction; or
- (iii) disclosed to, provided to, used or permitted to be used by any third party, in each case in any way inconsistent with this Use Agreement.
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