available to it under any other agreement or applicable law.   19. Intent (a) The parties recognize that each Transaction is a "repurchase agree- ment" as that term is defined in Section 101 of Title 11 of the United States Code, as amended (except insofar as the type of Secu- rities subject to such Transaction or the term of such Transaction would render such definition inapplicable), and a "securities con- tract" as that term is defined in Section 741 of Title 11 of the United States Code, as amended (except insofar as the type of assets subject to such Transaction would render such definition inapplicable).   (b) It is understood that either partys right to liquidate Securities deliv- ered to it in connection with Transactions hereunder or to exercise any other remedies pursuant to Paragraph 11 hereof is a contrac- tual right to liquidate such Transaction as described in Sections 555 and 559 of Title 11 of the United States Code, as amended. THEGLOBALMONEYMARKETS     (c) The parties agree and acknowledge that if a party hereto is an "insured depository institution," as such term is defined in the Fed- eral Deposit Insurance Act, as amended ("FDIA"), then each Transaction hereunder is a "qualified financial contract," as that term is defined in FDIA and any rules, orders or policy statements thereunder (except insofar as the type of assets subject to such Transaction would render such definition inapplicable).   (d) It is understood that this Agreement constitutes a "netting con- tract" as defined in and subject to Title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991 ("FDICIA") and each payment entitlement and payment obligation under any Transaction hereunder shall constitute a "covered contractual pay- ment entitlement" or "covered contractual payment obligation", respectively, as defined in and subject to FDI-CIA (except insofar as one or both of the parties is not a "financial institution" as that term is defined in FDICIA).