Template:2002 ISDA Equity Derivatives Definitions 12.7(a): Difference between revisions
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{{eqderivprov|12.7(a)}} If, in respect of an {{eqderivprov|Extraordinary Event}}, "{{eqderivprov|Cancellation and Payment}}" or "{{ | {{eqderivprov|12.7(a)}} If, in respect of an {{eqderivprov|Extraordinary Event}}, "{{eqderivprov|Cancellation and Payment}}" or "{{p|eq|Partial Cancellation and Payment|Partial}} <br>{{p|eq|Partial Cancellation and Payment|Cancellation and Payment}}" applies or is deemed to apply to the relevant {{eqderivprov|Transaction}} (or a portion <br>thereof), then an amount will be paid by one party to the other determined as provided in clause (b) or (c) <br>below, such payment to be made not later than three {{eqderivprov|Currency Business Days}} following the date that <br>notice of the determination by the {{eqderivprov|Calculation Agent}} or the {{eqderivprov|Determining Party}}, as the case may be, of <br>such amount (denominated in the currency for settlement of the {{eqderivprov|Transaction}} as determined by the <br>{{eqderivprov|Calculation Agent}} or the {{eqderivprov|Determining Party}}, as the case may be) and which party shall pay such amount <br>is effective, which notice shall be provided promptly following such determination. <br> | ||
Revision as of 13:25, 17 December 2012
12.7(a) If, in respect of an Extraordinary Event, "Cancellation and Payment" or "Partial
Cancellation and Payment" applies or is deemed to apply to the relevant Transaction (or a portion
thereof), then an amount will be paid by one party to the other determined as provided in clause (b) or (c)
below, such payment to be made not later than three Currency Business Days following the date that
notice of the determination by the Calculation Agent or the Determining Party, as the case may be, of
such amount (denominated in the currency for settlement of the Transaction as determined by the
Calculation Agent or the Determining Party, as the case may be) and which party shall pay such amount
is effective, which notice shall be provided promptly following such determination.