Template:Nutshell 2002 ISDA 6(e)(i): Difference between revisions
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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: <br> | ||
::(a) the {{isdaprov|Close-out Amount}}s for each Terminated Transaction '''plus''' <br> | ::(a) the {{isdaprov|Close-out Amount}}s for each Terminated Transaction '''plus''' <br> | ||
::(b) {{isdaprov|Unpaid Amounts}} due to the {{isdaprov|Non-defaulting Party}}; '''minus''' <br> | ::(b) {{isdaprov|Unpaid Amounts}} due to the {{isdaprov|Non-defaulting Party}}; '''minus''' <br> | ||
::(c) {{isdaprov|Unpaid Amounts}} due to the Defaulting Party.<br> | ::(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, the {{isdaprov|Non-defaulting Party}} will pay its absolute value to the {{isdaprov|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, 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.
- (a) the Close-out Amounts for each Terminated Transaction plus
- 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.