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Passive macromodeling of high-speed package and interconnect modules characterized by measured/simulated data has generated immense interest during the recent years. This paper presents an efficient algorithm for transient simulation of interconnect networks characterized by measured/simulated data in the presence of other linear and nonlinear devices. A new set of linear constraints are proposed, which help in preserving the passivity of resulting macromodels. Examples are presented to demonstrate the validity and efficiency of the proposed algorithm.