What is the liability referred to in item (1) of the article and how is it affected by the Foreign Party Net Payment Obligation?
The liability referred to in item (1) of the article is reduced by any amount in respect of the Foreign Party Net Payment Obligation as stated in the Multi-Branch Netting Agreement. If the liability of the liquidator combined with the Foreign Party Net Payment Obligation exceeds the Foreign Party Net Payment Obligation, it is reduced accordingly under this article.