Template:Nutshell 2002 ISDA 6(d): Difference between revisions
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{{isdaprov|6(d)}} '''{{isdaprov|Calculations; Payment Date}}'''. | {{isdaprov|6(d)}} '''{{isdaprov|Calculations; Payment Date}}'''. | ||
:(i) '''Statement'''. As soon as practicable following an {{isdaprov|Early Termination Date}}, each party will calculate its Section {{isdaprov|6(e)}} and give the other party a statement: | :(i) '''Statement'''. As soon as practicable following an {{isdaprov|Early Termination Date}}, each party will calculate its Section {{isdaprov|6(e)}} amount and give the other party a statement: | ||
::(1) showing reasonable detail of its calculations; | ::(1) showing reasonable detail of its calculations; | ||
::(2) specifying any {{isdaprov|Early Termination Amount}} payable; and | ::(2) specifying any {{isdaprov|Early Termination Amount}} payable; and | ||
Revision as of 16:21, 30 April 2018
6(d) Calculations; Payment Date.
- (i) Statement. As soon as practicable following an Early Termination Date, each party will calculate its Section 6(e) amount and give the other party a statement:
- (1) showing reasonable detail of its calculations;
- (2) specifying any Early Termination Amount payable; and
- (3) giving its bank details for payment of the Early Termination Amount.
- Its records of any quotation or market data it uses will be conclusive of their accuracy.
- (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) when its notice is effective for an Early Termination Date following an Event of Default and
- (2) two Local Business Days after its notice was effective (or, where two Affected Parties, after the second statement is effective) for an Early Termination Date following a Termination Event.