|
|
(12 intermediate revisions by the same user not shown) |
Line 1: |
Line 1: |
| ==[[2002 ISDA Master]] Agreement==
| | {{newisda92manual|2(e)}} |
| There is no provision 2(e) in the 2002 ISDA Master Agreement. Default interest is instead calculated pursuant to Section 9(h)(ii)(2) ({{isdaprov|Interest and Compensation}}) of the [[2002 ISDA]].
| |
| | |
| ==[[1992 ISDA Master]] Agreement==
| |
| | |
| Default Interest; Other Amounts. Prior to the occurrence or effective designation of an Early
| |
| Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any
| |
| payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest
| |
| (before as well as after judgment) on the overdue amount to the other party on demand in the same currency
| |
| as such overdue amount, for the period from (and including) the original due date for payment to (but
| |
| excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of
| |
| daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation
| |
| of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of
| |
| any obligation required to be settled by delivery, it will compensate the other party on demand if and to the
| |
| extent provided for in the relevant Confirmation or elsewhere in this Agreement.
| |
| | |
| ===ISDA {{isdaprov|Section 2(a)(iii)}} Protocol===
| |
| This provision of the {{1992isda}} would be brought into line with the {{2002isda}} provision relating to {{isdaprov|Interest and Compensation}} under the current Protocol wording. For more information please see the commentary around {{isdaprov|Section 2(a)(iii)}}.
| |
| {{isdaanatomy}}
| |