Template:Nutshell 2002 ISDA 6(f): Difference between revisions
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Amwelladmin (talk | contribs) Created page with "Without prejudice to its other rights, an {{isdaprov|Innocent Party}} may set-off any part of an {{isdaprov|Early Termination Amount}} (in respect of all outstanding {{isdapro..." |
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{{isdaprov|6(f)}} An {{isdaprov|Innocent Party}} may set-off any part of an {{isdaprov|Early Termination Amount}} (in respect of all outstanding {{isdaprov|Transactions}}) against any “Other Amounts” payable under any agreement between the parties. <br> | |||
To do so it may: | To do so it may: | ||
*convert one such amount into the other’s currency at a commercially reasonable rate. | *convert one such amount into the other’s currency at a commercially reasonable rate. | ||
*make a good faith estimate of any unascertained obligation, provided it accounts for any difference when such an amount is finally ascertained. <br> | *make a good faith estimate of any unascertained obligation, provided it accounts for any difference when such an amount is finally ascertained. <br> | ||
The Innocent Party must give notice of any set-off.<br> | The {{isdaprov|Innocent Party}} must give notice of any set-off.<br> | ||
This clause does not create | This clause does not create anysecurity interest. | ||
Revision as of 18:19, 9 December 2015
6(f) An Innocent Party may set-off any part of an Early Termination Amount (in respect of all outstanding Transactions) against any “Other Amounts” payable under any agreement between the parties.
To do so it may:
- convert one such amount into the other’s currency at a commercially reasonable rate.
- make a good faith estimate of any unascertained obligation, provided it accounts for any difference when such an amount is finally ascertained.
The Innocent Party must give notice of any set-off.
This clause does not create anysecurity interest.