Template:Nutshell 2002 ISDA 6(e)(i): Difference between revisions

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(Created page with "'''{{isdaprov|6(e)(i)}} {{isdaprov|Events of Default}}'''. On an {{isdaprov|Early Termination Date}} following an {{isdaprov|Event of Default}}, the {{isdaprov|Non-defaulting...")
 
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'''{{isdaprov|6(e)(i)}} {{isdaprov|Events of Default}}'''. On an {{isdaprov|Early Termination Date}} following an {{isdaprov|Event of Default}}, the {{isdaprov|Non-defaulting Party}} will determine {{isdaprov|Early Termination Amount}} in the {{isdaprov|Termination Currency}} as the sum of:
:{{isdaprov|6(e)(i)}} '''{{isdaprov|Events of Default}}'''. On an {{isdaprov|Early Termination Date}} following an {{isdaprov|Event of Default}}, the {{isdaprov|Non-defaulting Party}} will determine {{isdaprov|Early Termination Amount}} in the {{isdaprov|Termination Currency}} as the sum of: <br>
*the {{isdaprov|Close-out Amount}}s for each Terminated Transaction '''plus'''
::(a) the {{isdaprov|Close-out Amount}}s for each Terminated Transaction '''plus''' <br>
*{{isdaprov|Unpaid Amounts}} due to the {{isdaprov|Non-defaulting Party}}; '''minus'''  
::(b) {{isdaprov|Unpaid Amounts}} due to the {{isdaprov|Non-defaulting Party}}; '''minus''' <br>
*{{isdaprov|Unpaid Amounts}} due to the Defaulting Party.
::(c) {{isdaprov|Unpaid Amounts}} due to the Defaulting Party.<br>
If the {{isdaprov|Early Termination Amount}} is positive, the {{isdaprov|Defaulting Party}} will pay it to the {{isdaprov|Non-defaulting Party}}. If negative {{isdaprov|the Non-defaulting Party}} will pay its absolute value to the {{isdaprov|Defaulting Party}}.
:If the {{isdaprov|Early Termination Amount}} is positive, the {{isdaprov|Defaulting Party}} will pay it to the {{isdaprov|Non-defaulting Party}}. If negative, the {{isdaprov|Non-defaulting Party}} will pay its absolute value to the {{isdaprov|Defaulting Party}}. <br>

Latest revision as of 13:06, 17 June 2020

6(e)(i) Events of Default. On an Early Termination Date following an Event of Default, the Non-defaulting Party will determine Early Termination Amount in the Termination Currency as the sum of:
(a) the Close-out Amounts for each Terminated Transaction plus
(b) Unpaid Amounts due to the Non-defaulting Party; minus
(c) Unpaid Amounts due to the Defaulting Party.
If the Early Termination Amount is positive, the Defaulting Party will pay it to the Non-defaulting Party. If negative, the Non-defaulting Party will pay its absolute value to the Defaulting Party.
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