Template:Nutshell 2002 ISDA 9(h)(ii): Difference between revisions

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{{isdaprov|9(h)(ii)}} '''Early Termination'''. Upon the occurrence or effective designation of an Early Termination Date in respect of a {{isdaprov|Transaction}}:―
{{isdaprov|9(h)(ii)}} '''Early Termination'''. Upon an Early Termination Date on a {{isdaprov|Transaction}}:―
:{{isdaprov|9(h)(ii)(1)}} '''Unpaid Amounts'''. For the purpose of determining an {{isdaprov|Unpaid Amount}} in respect of the relevant {{isdaprov|Transaction}}, and to the extent permitted by applicable law, interest will accrue on the amount of any payment obligation or the amount equal to the fair market value of any obligation required to be settled by delivery included in such determination in the same currency as that amount, for the period from (and including) the date the relevant obligation was (or would have been but for Section {{isdaprov|2(a)(iii)}} or {{isdaprov|5(d)}}) required to have been performed to (but excluding) the relevant {{isdaprov|Early Termination Date}}, at the {{isdaprov|Applicable Close-out Rate}}.<br>
:{{isdaprov|9(h)(ii)(1)}} '''{{isdaprov|Unpaid Amount}}s'''. To determine an {{isdaprov|Unpaid Amount}} for that {{isdaprov|Transaction}}, interest will accrue on any payment obligation or the fair market value of any delivery obligation from the date the obligation was due to be performed until the {{isdaprov|Early Termination Date}}, at the {{isdaprov|Applicable Close-out Rate}}.<br>
:{{isdaprov|9(h)(ii)(2)}} '''Interest on Early Termination Amounts'''. If an {{isdaprov|Early Termination Amount}} is due in respect of such {{isdaprov|Early Termination Date}}, that amount will, to the extent permitted by applicable law, be paid together with interest (before as well as after judgment) on that amount in the Termination Currency, for the period from (and including) such {{isdaprov|Early Termination Date}} to (but excluding) the date the amount is paid, at the {{isdaprov|Applicable Close-out Rate}}.<br>
:{{isdaprov|9(h)(ii)(2)}} '''Interest on {{isdaprov|Early Termination Amount}}s'''. If an {{isdaprov|Early Termination Amount}} is due it must be paid with interest in the {{isdaprov|Termination Currency}} from the {{isdaprov|Early Termination Date}} until the date it is paid, at the {{isdaprov|Applicable Close-out Rate}}.<br>

Latest revision as of 15:10, 8 August 2018

9(h)(ii) Early Termination. Upon an Early Termination Date on a Transaction:―

9(h)(ii)(1) Unpaid Amounts. To determine an Unpaid Amount for that Transaction, interest will accrue on any payment obligation or the fair market value of any delivery obligation from the date the obligation was due to be performed until the Early Termination Date, at the Applicable Close-out Rate.
9(h)(ii)(2) Interest on Early Termination Amounts. If an Early Termination Amount is due it must be paid with interest in the Termination Currency from the Early Termination Date until the date it is paid, at the Applicable Close-out Rate.
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