82,976
edits
Template:ISDA English Law Credit Support Annex 1995 4(a): Difference between revisions
Template:ISDA English Law Credit Support Annex 1995 4(a) (view source)
Revision as of 03:58, 28 December 2019
, 28 December 2019no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| (One intermediate revision by the same user not shown) | |||
| Line 1: | Line 1: | ||
{{csaprov|4(a)}} '''{{csaprov|Disputed Calculations or Valuations}}'''. If a party (a “'''{{csaprov|Disputing Party}}''' | {{csaprov|4(a)}} '''{{csaprov|Disputed Calculations or Valuations}}'''. If a party (a “'''{{csaprov|Disputing Party}}'''”) reasonably disputes (I) the {{csaprov|Valuation Agent}}’s calculation of a {{csaprov|Delivery Amount}} or a {{csaprov|Return Amount}} or (II) the {{csaprov|Value}} of any transfer of {{csaprov|Eligible Credit Support}} or {{csaprov|Equivalent Credit Support}}, then: | ||
:(1) the {{csaprov|Disputing Party}} will notify the other party and the {{csaprov|Valuation Agent}} (if the Valuation Agent is not the other party) not later than the close of business on the {{csaprov|Local Business Day}} following, in the case of (I) above, the date that the demand is received under Paragraph {{csaprov|2}} or, in the case of (II) above, the date of transfer; | :(1) the {{csaprov|Disputing Party}} will notify the other party and the {{csaprov|Valuation Agent}} (if the Valuation Agent is not the other party) not later than the close of business on the {{csaprov|Local Business Day}} following, in the case of (I) above, the date that the demand is received under Paragraph {{csaprov|2}} or, in the case of (II) above, the date of transfer; | ||
:(2) in the case of (I) above, the appropriate party will transfer the undisputed amount to the other party not later than the close of business on the {{csaprov|Settlement Day}} following the date that the demand is received under Paragraph {{csaprov|2}}; | :(2) in the case of (I) above, the appropriate party will transfer the undisputed amount to the other party not later than the close of business on the {{csaprov|Settlement Day}} following the date that the demand is received under Paragraph {{csaprov|2}}; | ||
| Line 9: | Line 9: | ||
:::(C) utilising the procedures specified in Paragraph {{csaprov|11(e)(ii)}} for calculating the {{csaprov|Value}}, if disputed, of the outstanding {{csaprov|Credit Support Balance}}; | :::(C) utilising the procedures specified in Paragraph {{csaprov|11(e)(ii)}} for calculating the {{csaprov|Value}}, if disputed, of the outstanding {{csaprov|Credit Support Balance}}; | ||
::(ii) in the case of a dispute involving the {{csaprov|Value}} of any transfer of Eligible Credit Support or {{csaprov|Equivalent Credit Support}}, the {{csaprov|Valuation Agent}} will recalculate the {{csaprov|Value}} as of the date of transfer pursuant to Paragraph {{csaprov|11(e)(ii)}}. | ::(ii) in the case of a dispute involving the {{csaprov|Value}} of any transfer of Eligible Credit Support or {{csaprov|Equivalent Credit Support}}, the {{csaprov|Valuation Agent}} will recalculate the {{csaprov|Value}} as of the date of transfer pursuant to Paragraph {{csaprov|11(e)(ii)}}. | ||
Following a recalculation pursuant to this Paragraph, the {{csaprov|Valuation Agent}} will notify each party (or the other party, if the {{csaprov|Valuation Agent}} is a party) as soon as possible but in any event not later than the {{csaprov|Notification Time}} on the {{csaprov|Local Business Day}} following the {{csaprov|Resolution Time}}. The appropriate party will, upon demand following such notice given by the {{csaprov|Valuation Agent}} or a resolution pursuant to (3) above and subject to Paragraph {{csaprov|3(a)}}, make the appropriate transfer. | Following a recalculation pursuant to this Paragraph, the {{csaprov|Valuation Agent}} will notify each party (or the other party, if the {{csaprov|Valuation Agent}} is a party) as soon as possible but in any event not later than the {{csaprov|Notification Time}} on the {{csaprov|Local Business Day}} following the {{csaprov|Resolution Time}}. The appropriate party will, upon demand following such notice given by the {{csaprov|Valuation Agent}} or a resolution pursuant to (3) above and subject to Paragraph {{csaprov|3(a)}}, make the appropriate transfer.<br> | ||