Template:Nutshell 1992 ISDA 2(e): Difference between revisions

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Created page with "{{isda92prov|2(e)}} '''{{isda92prov|Default Interest; Other Amounts}}'''. In the absence of an {{isda92prov|Early Termination Date}} on a {{isda92prov|Transaction}}: :A party..."
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{{isda92prov|2(e)}} '''{{isda92prov|Default Interest; Other Amounts}}'''. In the absence of an {{isda92prov|Early Termination Date}} on a {{isda92prov|Transaction}}:
{{isda92prov|2(e)}} '''{{isda92prov|Default Interest; Other Amounts}}'''. In the absence of an {{isda92prov|Early Termination Date}} on a {{isda92prov|Transaction}}:
:A party that defaults on a [[payment]] obligation must (subject to Section {{isda92prov|6(c)}}) pay [[interest]] at the {{isda92prov|Default Rate}} on the overdue amount from the due date until the actual payment date, compounding daily.  
:(a) A party who defaults on a [[payment]] obligation must (subject to Section {{isda92prov|6(c)}}) pay [[interest]] at the {{isda92prov|Default Rate}} on the overdue amount from the due date until the actual payment date, compounding daily.  
:A party that defaults on a [[delivery]] obligation must compensate the other party on demand if and to the extent provided for in the relevant {{isda92prov|Confirmation}} or elsewhere in this {{isda92prov|Agreement}}. <br />
:(b) A party who defaults on a [[delivery]] obligation must compensate the other party on demand if and to the extent provided for in the relevant {{isda92prov|Confirmation}} or elsewhere in this {{isda92prov|Agreement}}. <br />

Latest revision as of 16:20, 19 February 2020

2(e) Default Interest; Other Amounts. In the absence of an Early Termination Date on a Transaction:

(a) A party who defaults on a payment obligation must (subject to Section 6(c)) pay interest at the Default Rate on the overdue amount from the due date until the actual payment date, compounding daily.
(b) A party who defaults on a delivery obligation must compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.