Template:Nutshell 2002 ISDA 8(b): Difference between revisions

{{isdaprov|8(b)}} '''{{isdaprov|Judgments}}'''. If a party obtains judgment in a {{isdaprov|Non-Contractual Currency}} against the other for any amount due under (or upon early termination of) this {{isdaprov|Agreement}} and, having recovered the the judgment debt, there is a shortfall or excess over the amount originally due in the {{isdaprov|Contractual Currency}} due to the exchange rate at which that party, in [[good faith]] and a [[commercially reasonable]] manner, converts the judgement debt into the {{isdaprov|Contractual Currency}}, that judgment creditor:

:will be entitled to ''immediately'' receive from the other party, in the {{isdaprov|Contractual Currency}}, any such shortfall; and

:must ''promptly'' refund to the other party, in the {{isdaprov|Contractual Currency}}, any such excess. <br>