Template:Nutshell 1992 ISDA Local Business Day: Difference between revisions

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“'''{{isda92prov|Local Business Day}}'''” means, subject to the {{isda92prov|Schedule}}, a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits):
“'''{{isda92prov|Local Business Day}}'''” means a day on which commercial banks are open:
:(a) in relation to any obligation under Section {{isda92prov|2(a)(i)}}, in the place(s) specified in the relevant {{isda92prov|Confirmation}} or, if not so specified, as otherwise agreed by the parties in writing or determined pursuant to provisions contained, or incorporated by reference, in this {{isda92prov|Agreement}},  
:(a) for any Section {{isda92prov|2(a)(i)}} obligation, where specified in the {{isda92prov|Confirmation}},  
:(b) in relation to any other payment, in the place where the relevant account is located and, if different, in the principal financial centre, if any, of the currency of such payment,  
:(b) for any other payment, where the relevant account is located and any principal financial centre of the currency of the payment,  
:(c) in relation to any notice or other communication, including notice contemplated under Section {{isda92prov|5(a)(i)}}, in the city specified in the address for notice provided by the recipient and, in the case of a notice contemplated  by Section {{isda92prov|2(b)}}, in the place where the relevant new account is to be located and  
:(c) for any communication, in the city specified in the recipient’s specified address, for a Section {{isda92prov|2(b)}} notice, where the new account is to be located and  
:(d) in relation to  Section {{isda92prov|5(a)(v)(2)}}, in the relevant locations for performance with respect to such {{isda92prov|Specified Transaction}}. <br>
:(d) for Section {{isda92prov|5(a)(v)(2)}}, in the locations for performance for the {{isda92prov|Specified Transaction}}. <br>

Revision as of 11:34, 18 August 2022

“Local Business Day” means a day on which commercial banks are open:

(a) for any Section 2(a)(i) obligation, where specified in the Confirmation,
(b) for any other payment, where the relevant account is located and any principal financial centre of the currency of the payment,
(c) for any communication, in the city specified in the recipient’s specified address, for a Section 2(b) notice, where the new account is to be located and
(d) for Section 5(a)(v)(2), in the locations for performance for the Specified Transaction.
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