2014 ISDA Credit Derivatives Definitions: Difference between revisions
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==Article 7 Terms Relating To Cash Settlement== | ==Article 7 Terms Relating To Cash Settlement== | ||
'''Section {{cddprov|7.1}} Cash Settlement'''. If “'''{{cddprov|Cash Settlement}}'''” is specified as the {{cddprov|Settlement Method}} in the related {{cddprov|Confirmation}} or if either (a) Cash Settlement is applicable as the {{cddprov|Fallback Settlement Method}} in accordance with Section {{cddprov|6.1}} ({{cddprov|Auction Settlement}}), or (b) Cash Settlement is deemed to apply pursuant to Section {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality), {{cddprov|9.2}} (Partial Cash Settlement of {{cddprov|Consent Required Loan}}s), {{cddprov|9.3}} (Partial Cash Settlement of {{cddprov|Assignable Loan}}s) or {{cddprov|9.4}} (Partial Cash Settlement of Participations), {{cddprov|Seller}} shall, subject to Section {{cddprov|5.1}} (Settlement), pay to {{cddprov|Buyer}} the Cash Settlement Amount on the {{cddprov|Cash Settlement Date}}.<br> | '''Section {{cddprov|7.1}} Cash Settlement'''. If “'''{{cddprov|Cash Settlement}}'''” is specified as the {{cddprov|Settlement Method}} in the related {{cddprov|Confirmation}} or if either (a) Cash Settlement is applicable as the {{cddprov|Fallback Settlement Method}} in accordance with Section {{cddprov|6.1}} ({{cddprov|Auction Settlement}}), or (b) Cash Settlement is deemed to apply pursuant to Section {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality), {{cddprov|9.2}} (Partial Cash Settlement of {{cddprov|Consent Required Loan}}s), {{cddprov|9.3}} (Partial Cash Settlement of {{cddprov|Assignable Loan}}s) or {{cddprov|9.4}} (Partial Cash Settlement of Participations), {{cddprov|Seller}} shall, subject to Section {{cddprov|5.1}} (Settlement), pay to {{cddprov|Buyer}} the Cash Settlement Amount on the {{cddprov|Cash Settlement Date}}.<br> |