Template:Nutshell 1992 ISDA Local Business Day: Difference between revisions
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“'''{{isda92prov|Local Business Day}}'''” means a day on which commercial banks are open: | “'''{{isda92prov|Local Business Day}}'''” means a day on which commercial banks are open: | ||
:(a) for any | :(a) '''Transaction payments and deliveries''': for any payment or delivery under a {{isda92prov|Transaction}}, where specified in the {{isda92prov|Confirmation}}, | ||
:(b) for any other payment, where the relevant account is located and any principal financial centre of the currency of the payment, | :(b) '''Other payments''': for any other payment, where the relevant account is located and any principal financial centre of the currency of the payment, | ||
:(c) for any communication, in the city specified in the recipient’s specified address, for a Section {{isda92prov|2(b)}} notice, where the new account is to be located and | :(c) '''Communications''': for any communication, in the city specified in the recipient’s specified address and, for a Section {{isda92prov|2(b)}} notice, where the new account is to be located, and | ||
:(d) for | :(d) '''DUST''': for a {{isda92prov|Default Under Specified Transaction}}, in the locations for performance for the {{isda92prov|Specified Transaction}}. <br> | ||
Latest revision as of 11:39, 18 August 2022
“Local Business Day” means a day on which commercial banks are open:
- (a) Transaction payments and deliveries: for any payment or delivery under a Transaction, where specified in the Confirmation,
- (b) Other payments: for any other payment, where the relevant account is located and any principal financial centre of the currency of the payment,
- (c) Communications: for any communication, in the city specified in the recipient’s specified address and, for a Section 2(b) notice, where the new account is to be located, and
- (d) DUST: for a Default Under Specified Transaction, in the locations for performance for the Specified Transaction.