Template:ISDA Master Agreement 2002 9(h)(ii): Difference between revisions

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{{isdaprov|9(h)(ii)}} '''Early Termination'''. Upon the occurrence or effective designation of an Early Termination Date in <br>respect of a {{isdaprov|Transaction}}:―
{{isdaprov|9(h)(ii)}} '''Early Termination'''. Upon the occurrence or effective designation of an Early Termination Date in respect of a {{isdaprov|Transaction}}:―
:(1) '''Unpaid Amounts'''. For the purpose of determining an {{isdaprov|Unpaid Amount}} in respect of the <br>relevant {{isdaprov|Transaction}}, and to the extent permitted by applicable law, interest will accrue on the <br>amount of any payment obligation or the amount equal to the fair market value of any obligation <br>required to be settled by delivery included in such determination in the same currency as that <br>amount, for the period from (and including) the date the relevant obligation was (or would have <br>been but for Section {{isdaprov|2(a)(iii)}} or {{isdaprov|5(d)}}) required to have been performed to (but excluding) the <br>relevant {{isdaprov|Early Termination Date}}, at the {{isdaprov|Applicable Close-out Rate}}.<br>
:{{isdaprov|9(h)(ii)(1)}} '''Unpaid Amounts'''. For the purpose of determining an {{isdaprov|Unpaid Amount}} in respect of the relevant {{isdaprov|Transaction}}, and to the extent permitted by applicable law, interest will accrue on the amount of any payment obligation or the amount equal to the fair market value of any obligation required to be settled by delivery included in such determination in the same currency as that amount, for the period from (and including) the date the relevant obligation was (or would have been but for Section {{isdaprov|2(a)(iii)}} or {{isdaprov|5(d)}}) required to have been performed to (but excluding) the relevant {{isdaprov|Early Termination Date}}, at the {{isdaprov|Applicable Close-out Rate}}.<br>
:(2) '''Interest on Early Termination Amounts'''. If an {{isdaprov|Early Termination Amount}} is due in respect <br>of such {{isdaprov|Early Termination Date}}, that amount will, to the extent permitted by applicable law, be paid <br>together with interest (before as well as after judgment) on that amount in the Termination <br>Currency, for the period from (and including) such {{isdaprov|Early Termination Date}} to (but excluding) the <br>date the amount is paid, at the {{isdaprov|Applicable Close-out Rate}}.<br>
:{{isdaprov|9(h)(ii)(2)}} '''Interest on Early Termination Amounts'''. If an {{isdaprov|Early Termination Amount}} is due in respect of such {{isdaprov|Early Termination Date}}, that amount will, to the extent permitted by applicable law, be paid together with interest (before as well as after judgment) on that amount in the Termination Currency, for the period from (and including) such {{isdaprov|Early Termination Date}} to (but excluding) the date the amount is paid, at the {{isdaprov|Applicable Close-out Rate}}.<br>

Latest revision as of 14:08, 2 October 2017

9(h)(ii) Early Termination. Upon the occurrence or effective designation of an Early Termination Date in respect of a Transaction:―

9(h)(ii)(1) Unpaid Amounts. For the purpose of determining an Unpaid Amount in respect of the relevant Transaction, and to the extent permitted by applicable law, interest will accrue on the amount of any payment obligation or the amount equal to the fair market value of any obligation required to be settled by delivery included in such determination in the same currency as that amount, for the period from (and including) the date the relevant obligation was (or would have been but for Section 2(a)(iii) or 5(d)) required to have been performed to (but excluding) the relevant Early Termination Date, at the Applicable Close-out Rate.
9(h)(ii)(2) Interest on Early Termination Amounts. If an Early Termination Amount is due in respect of such Early Termination Date, that amount will, to the extent permitted by applicable law, be paid together with interest (before as well as after judgment) on that amount in the Termination Currency, for the period from (and including) such Early Termination Date to (but excluding) the date the amount is paid, at the Applicable Close-out Rate.