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Template:Isda 11 summ: Difference between revisions
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====Is it covered in the close-out calculation?==== | ====Is it covered in the close-out calculation?==== | ||
No. The “{{{{{1}}}|Expenses}}” referred to in this provision would not be captured by the definition of “{{{{{1}}}|Close-out Amount}}”<ref>Or its 1992 equivalent, | No. The “{{{{{1}}}|Expenses}}” referred to in this provision would not be captured by the definition of “{{{{{1}}}|Close-out Amount}}”<ref>Or its 1992 equivalent, “the amount determined following early termination of a Terminated Transaction”.</ref> or “{{{{{1}}}|Early Termination Amount}}” because, [[Q.E.D.]], they arise only once that amount has been determined and the {{{{{1}}}|Non-Defaulting Party}} is in the process of collecting it. | ||
====Stamp Tax and Section 4(e)==== | ====Stamp Tax and Section 4(e)==== | ||
In the limited circumstance of default, this section modifies the arrangement for who pays {{{{{1}}}|Stamp Tax}} as set out in Section {{{{{1}}}|4(e)}} (which says it is the person whose tax residence precipitates it). | In the limited circumstance of default, this section modifies the arrangement for who pays {{{{{1}}}|Stamp Tax}} as set out in Section {{{{{1}}}|4(e)}} (which says it is the person whose tax residence precipitates it). | ||