Template:Nutshell GMRA 10(c): Difference between revisions
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{{gmraprov|10(c)}} The {{gmraprov|non-Defaulting Party}} will determine: <br> | {{gmraprov|10(c)}} '''Determinations''': The {{gmraprov|non-Defaulting Party}} will determine: <br> | ||
:(i) '''Values''': the {{gmraprov|Default Market Value}}s of {{gmraprov|Equivalent Securities}} and {{gmraprov|Equivalent Margin Securities}}, and the {{gmraprov|Cash Margin}} and accrued interest to be transferred and the {{gmraprov|Repurchase Price}}s to be paid by each party for all {{gmraprov|Transaction}}s as at the {{gmraprov|Repurchase Date}}; and | :(i) '''Values''': the {{gmraprov|Default Market Value}}s of {{gmraprov|Equivalent Securities}} and {{gmraprov|Equivalent Margin Securities}}, and the {{gmraprov|Cash Margin}} and accrued interest to be transferred and the {{gmraprov|Repurchase Price}}s to be paid by each party for all {{gmraprov|Transaction}}s as at the {{gmraprov|Repurchase Date}}; and | ||
:(ii) '''Net amount due''': as at the {{gmraprov|Repurchase Date}}, what each party owes the other using those {{gmraprov|Default Market Value}}s and converting amounts where necessary into the {{gmraprov|Base Currency}} at the prevailing {{gmraprov|Spot Rate}} and only the balance of the account (having applied any necessary [[set off]]) will be payable on the next {{gmraprov|Business Day}}.<br> | :(ii) '''Net amount due''': as at the {{gmraprov|Repurchase Date}}, what each party owes the other using those {{gmraprov|Default Market Value}}s and converting amounts where necessary into the {{gmraprov|Base Currency}} at the prevailing {{gmraprov|Spot Rate}} and only the balance of the account (having applied any necessary [[set off]]) will be payable on the next {{gmraprov|Business Day}}.<br> | ||
Latest revision as of 13:04, 18 December 2020
10(c) Determinations: The non-Defaulting Party will determine:
- (i) Values: the Default Market Values of Equivalent Securities and Equivalent Margin Securities, and the Cash Margin and accrued interest to be transferred and the Repurchase Prices to be paid by each party for all Transactions as at the Repurchase Date; and
- (ii) Net amount due: as at the Repurchase Date, what each party owes the other using those Default Market Values and converting amounts where necessary into the Base Currency at the prevailing Spot Rate and only the balance of the account (having applied any necessary set off) will be payable on the next Business Day.