Template:Nutshell 2002 ISDA 6(f): Difference between revisions

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{{isdaprov|6(f)}} An {{isdaprov|Innocent Party}} may set-off any part of an {{isdaprov|Early Termination Amount}} payable by a {{isdaprov|Payer}} to the {{isdaprov|Payee}}  against any {{isdaprov|Other Amounts}} payable by the {{isdaprov|Payee}} to the {{isdaprov|Payer}} under any other agreement. <br>
{{isdaprov|6(f)}} An {{isdaprov|Innocent Party}} may, by notice, [[set-off]] any part of an {{isdaprov|Early Termination Amount}} payable by one party against any {{isdaprov|Other Amounts}} payable by the other under any other agreement, converting currencies if necessary and estimating unascertained obligations in [[good faith]], but it must account for any difference between its estimate and the amount when it is finally ascertained.<br>
 
To do so it may:
*convert one such amount into the other’s currency at a commercially reasonable rate.
*make a good faith estimate of any unascertained obligation, provided it accounts for any difference when such an amount is finally ascertained. <br>
The {{isdaprov|Innocent Party}} must give notice of any set-off. This clause does not create any security interest.<br>

Latest revision as of 13:13, 30 September 2019

6(f) An Innocent Party may, by notice, set-off any part of an Early Termination Amount payable by one party against any Other Amounts payable by the other under any other agreement, converting currencies if necessary and estimating unascertained obligations in good faith, but it must account for any difference between its estimate and the amount when it is finally ascertained.

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