Template:ISDA English Law Credit Support Annex 1995 Exposure: Difference between revisions

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"'''{{csaprov|Exposure}}'''" means, with respect to a party on a {{csaprov|Valuation Date}} and subject to Paragraph {{csaprov|4}} in the case of a <br>dispute, the amount, if any, that would be payable to that party by the other party (expressed as a positive <br>number) or by that party to the other party (expressed as a negative number) pursuant to Section {{isdaprov|6(e)(ii)(1)}} <br>of this {{isdaprov|Agreement}} if all {{isdaprov|Transactions}} (other than the {{isdaprov|Transaction}} constituted by this {{csaprov|Annex}}) were being <br>terminated as of the relevant {{csaprov|Valuation Time}}, on the basis that (i) that party is not the {{isdaprov|Affected Party}} and <br>(ii) the {{csaprov|Base Currency}} is the {{isdaprov|Termination Currency}}; provided that {{isdaprov|Market Quotation}}s will be determined by <br>the {{csaprov|Valuation Agent}} on behalf of that party using its estimates at mid-market of the amounts that would be <br>paid for {{isdaprov|Replacement Transaction}}s (as that term is defined in the definition of “'''{{isdaprov|Market Quotation}}'''”).
“'''{{csaprov|Exposure}}'''” means, with respect to a party on a {{csaprov|Valuation Date}} and subject to Paragraph {{csaprov|4}} in the case of a dispute, the amount, if any, that would be payable to that party by the other party (expressed as a positive number) or by that party to the other party (expressed as a negative number) pursuant to Section {{isdaprov|6(e)(ii)(1)}} of this {{isdaprov|Agreement}} if all {{isdaprov|Transactions}} (other than the {{isdaprov|Transaction}} constituted by this {{csaprov|Annex}}) were being terminated as of the relevant {{csaprov|Valuation Time}}, on the basis that (i) that party is not the {{isdaprov|Affected Party}} and (ii) the {{csaprov|Base Currency}} is the {{isdaprov|Termination Currency}}; provided that {{isdaprov|Market Quotation}}s will be determined by the {{csaprov|Valuation Agent}} on behalf of that party using its estimates at mid-market of the amounts that would be paid for {{isdaprov|Replacement Transaction}}s (as that term is defined in the definition of “'''{{isdaprov|Market Quotation}}'''”). <br>

Latest revision as of 00:32, 30 December 2019

“Exposure” means, with respect to a party on a Valuation Date and subject to Paragraph 4 in the case of a dispute, the amount, if any, that would be payable to that party by the other party (expressed as a positive number) or by that party to the other party (expressed as a negative number) pursuant to Section 6(e)(ii)(1) of this Agreement if all Transactions (other than the Transaction constituted by this Annex) were being terminated as of the relevant Valuation Time, on the basis that (i) that party is not the Affected Party and (ii) the Base Currency is the Termination Currency; provided that Market Quotations will be determined by the Valuation Agent on behalf of that party using its estimates at mid-market of the amounts that would be paid for Replacement Transactions (as that term is defined in the definition of “Market Quotation”).

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