Template:2014 ISDA Credit Derivatives Definitions 1: Difference between revisions
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'''Section {{cddprov|1.51}} {{cddprov|Business Day}}'''. “'''{{cddprov|Business Day}}'''” means (a)(i) a day on which commercial banks and foreign exchange markets are generally open to settle payments in the place or places and on the days specified for that purpose in the relevant Confirmation, and/or (ii) a {{cddprov|TARGET Settlement Day}} (if “'''{{cddprov|TARGET}}'''” or “'''{{cddprov|TARGET Settlement Day}}'''” is specified in the related Confirmation), or (b) if a place or places or such terms are not so specified, (i) if the {{cddprov|Floating Rate Payer Calculation Amount}} is denominated in the euro, a {{cddprov|TARGET Settlement Day}}, or (ii) otherwise, a day on which commercial banks and foreign exchange markets are generally open to settle payments in the principal financial city in the jurisdiction of the currency of denomination of the {{cddprov|Floating Rate Payer Calculation Amount}}.<br> | '''Section {{cddprov|1.51}} {{cddprov|Business Day}}'''. “'''{{cddprov|Business Day}}'''” means (a)(i) a day on which commercial banks and foreign exchange markets are generally open to settle payments in the place or places and on the days specified for that purpose in the relevant Confirmation, and/or (ii) a {{cddprov|TARGET Settlement Day}} (if “'''{{cddprov|TARGET}}'''” or “'''{{cddprov|TARGET Settlement Day}}'''” is specified in the related Confirmation), or (b) if a place or places or such terms are not so specified, (i) if the {{cddprov|Floating Rate Payer Calculation Amount}} is denominated in the euro, a {{cddprov|TARGET Settlement Day}}, or (ii) otherwise, a day on which commercial banks and foreign exchange markets are generally open to settle payments in the principal financial city in the jurisdiction of the currency of denomination of the {{cddprov|Floating Rate Payer Calculation Amount}}.<br> | ||
'''Section {{cddprov|1.52}} {{cddprov|TARGET Settlement Day}}'''. “'''{{cddprov|TARGET Settlement Day}}'''” means any day on which TARGET2 (the Trans-European Automated Real-time Gross settlement Express Transfer system) is open.<br> | '''Section {{cddprov|1.52}} {{cddprov|TARGET Settlement Day}}'''. “'''{{cddprov|TARGET Settlement Day}}'''” means any day on which TARGET2 (the Trans-European Automated Real-time Gross settlement Express Transfer system) is open.<br> |