Template:ISDA Master Agreement 2002 6(d): Difference between revisions

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{{isdaprov|6(d)}} {{isdaprov|Calculations; Payment Date}}. <br>
{{isdaprov|6(d)}} '''{{isdaprov|Calculations; Payment Date}}'''.  
:(i) '''Statement'''. On or as soon as reasonably practicable following the occurrence of an Early <br>Termination Date, each party will make the calculations on its part, if any, contemplated by Section {{isdaprov|6(e)}} and <br>will provide to the other party a statement (l) showing, in reasonable detail, such calculations (including any <br>quotations, market data or information from internal sources used in making such calculations), <br>(2) specifying (except where there are two {{isdaprov|Affected Parties}}) any {{isdaprov|Early Termination Amount}} payable and <br>(3) giving details of the relevant account to which any amount payable to it is to be paid. In the absence of <br>written confirmation from the source of a quotation or market data obtained in determining a Close-out <br>Amount, the records of the party obtaining such quotation or market data will be conclusive evidence of the <br>existence and accuracy of such quotation or market data. <br>
:(i) '''Statement'''. On or as soon as [[reasonably practicable]] following the occurrence of an {{isdaprov|Early Termination Date}}, each party will make the calculations on its part, if any, contemplated by Section {{isdaprov|6(e)}} and will provide to the other party a statement  
:(ii) ''Payment Date''. An {{isdaprov|Early Termination Amount}} due in respect of any {{isdaprov|Early Termination Date}} will, <br>together with any amount of interest payable pursuant to Section {{isdaprov|9(h)(ii)(2)}}, be payable (1) on the day on <br>which notice of the amount payable is effective in the case of an {{isdaprov|Early Termination Date}} which is designated <br>or occurs as a result of an {{isdaprov|Event of Default}} and (2) on the day which is two {{isdaprov|Local Business Days}} after the <br>day on which notice of the amount payable is effective (or, if there are two {{isdaprov|Affected Parties}}, after the day on <br>which the statement provided pursuant to clause (i) above by the second party to provide such a statement is <br>effective) in the case of an {{isdaprov|Early Termination Date}} which is designated as a result of a {{isdaprov|Termination Event}}. <br>
::(1) showing, in reasonable detail, such calculations (including any quotations, market data or information from internal sources used in making such calculations),  
::(2) specifying (except where there are two {{isdaprov|Affected Parties}}) any {{isdaprov|Early Termination Amount}} payable and  
::(3) giving details of the relevant account to which any amount payable to it is to be paid.  
:In the absence of written confirmation from the source of a quotation or market data obtained in determining a {{isdaprov|Close-out Amount}}, the records of the party obtaining such quotation or market data will be [[conclusive evidence]] of the existence and accuracy of such quotation or market data.  
:(ii) '''Payment Date'''. An {{isdaprov|Early Termination Amount}} due in respect of any {{isdaprov|Early Termination Date}} will, together with any amount of interest payable pursuant to Section {{isdaprov|9(h)(ii)(2)}}, be payable  
::(1) on the day on which notice of the amount payable is effective in the case of an {{isdaprov|Early Termination Date}} which is designated or occurs as a result of an {{isdaprov|Event of Default}} and  
::(2) on the day which is two {{isdaprov|Local Business Days}} after the day on which notice of the amount payable is effective (or, if there are two {{isdaprov|Affected Parties}}, after the day on which the statement provided pursuant to clause (i) above by the second party to provide such a statement is effective) in the case of an {{isdaprov|Early Termination Date}} which is designated as a result of a {{isdaprov|Termination Event}}.<br>

Latest revision as of 15:10, 13 March 2020

6(d) Calculations; Payment Date.

(i) Statement. On or as soon as reasonably practicable following the occurrence of an Early Termination Date, each party will make the calculations on its part, if any, contemplated by Section 6(e) and will provide to the other party a statement
(1) showing, in reasonable detail, such calculations (including any quotations, market data or information from internal sources used in making such calculations),
(2) specifying (except where there are two Affected Parties) any Early Termination Amount payable and
(3) giving details of the relevant account to which any amount payable to it is to be paid.
In the absence of written confirmation from the source of a quotation or market data obtained in determining a Close-out Amount, the records of the party obtaining such quotation or market data will be conclusive evidence of the existence and accuracy of such quotation or market data.
(ii) Payment Date. An Early Termination Amount due in respect of any Early Termination Date will, together with any amount of interest payable pursuant to Section 9(h)(ii)(2), be payable
(1) on the day on which notice of the amount payable is effective in the case of an Early Termination Date which is designated or occurs as a result of an Event of Default and
(2) on the day which is two Local Business Days after the day on which notice of the amount payable is effective (or, if there are two Affected Parties, after the day on which the statement provided pursuant to clause (i) above by the second party to provide such a statement is effective) in the case of an Early Termination Date which is designated as a result of a Termination Event.
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