Template:Nutshell 1992 ISDA Loss: Difference between revisions
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“'''{{isdaprov|Loss}}'''” means, with respect to a party and this {{isdaprov|Agreement}} or any {{isdaprov|Terminated Transaction}}, the {{isdaprov|Termination Currency Equivalent}} of the amount that party determines as its total associated loss (or gain, in which case the {{isdaprov|Loss}} will be negative), including (without duplication) loss of bargain, cost of funding, and hedge break costs. This may, but doesn’t have to, be by reference to dealer quotations. | “'''{{isdaprov|Loss}}'''” means, with respect to a party and this {{isdaprov|Agreement}} or any {{isdaprov|Terminated Transaction}}, the {{isdaprov|Termination Currency Equivalent}} of the amount that party determines as its total associated loss (or gain, in which case the {{isdaprov|Loss}} will be negative), including (without duplication) loss of bargain, cost of funding, and hedge break costs. This may, but doesn’t have to, be by reference to dealer quotations. | ||
{{isdaprov|Loss}} includes losses (or gains) in respect of payments and deliveries that were due but not made required by the {{isdaprov|Early Termination Date}}. | {{isdaprov|Loss}} includes losses (or gains) in respect of payments and deliveries that were due but not made required by the {{isdaprov|Early Termination Date}} (without duplication where the {{isdaprov|First Method}} [[or]] {{isdaprov|Market Quotation}} applies). | ||
{{isdaprov|Loss}} does ''not'' include legal fees and expenses per Section {{isdaprov|11}}. | {{isdaprov|Loss}} does ''not'' include legal fees and expenses per Section {{isdaprov|11}}. | ||
A party will determine its {{isdaprov|Loss}} as of (or as soon as practicable following) the {{isdaprov|Early Termination Date}}. <br> | A party will determine its {{isdaprov|Loss}} as of (or as soon as practicable following) the {{isdaprov|Early Termination Date}}. <br> | ||
Latest revision as of 17:10, 17 March 2020
“Loss” means, with respect to a party and this Agreement or any Terminated Transaction, the Termination Currency Equivalent of the amount that party determines as its total associated loss (or gain, in which case the Loss will be negative), including (without duplication) loss of bargain, cost of funding, and hedge break costs. This may, but doesn’t have to, be by reference to dealer quotations.
Loss includes losses (or gains) in respect of payments and deliveries that were due but not made required by the Early Termination Date (without duplication where the First Method or Market Quotation applies).
Loss does not include legal fees and expenses per Section 11.
A party will determine its Loss as of (or as soon as practicable following) the Early Termination Date.