Template:ISDA English Law Credit Support Annex 2016 3(b): Difference between revisions

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{{csaprov|3(b)}} '''{{csaprov|Calculations}}'''. All calculations of {{csaprov|Value}} and {{csaprov|Exposure}} for purposes of Paragraph {{csaprov|2}} and Paragraph {{csaprov|4(a)}} will be made by the relevant {{csaprov|Valuation Agent}} as of the relevant {{csaprov|Valuation Time}}, provided that, the {{csaprov|Valuation Agent}} may use, in the case of any calculation of (i) {{csaprov|Value}}, {{csaprov|Values}} most recently reasonably available for [[close of business]] in the relevant market for the relevant {{csaprov|Eligible Credit Support (VM)}} as of the {{csaprov|Valuation Time}} and (ii) {{csaprov|Exposure}}, relevant information or data most recently reasonably available for close of business in the relevant market(s) as of the {{csaprov|Valuation Time}}. The {{csaprov|Valuation Agent}} will notify each party (or the other party, if the {{csaprov|Valuation Agent}} is a party) of its calculations not later than the {{csaprov|Notification Time}} on the {{csaprov|Local Business Day}} following the applicable {{csaprov|Valuation Date}} (or, in the case of Paragraph {{csaprov|4}}(a), following the date of calculation). <br>
{{vmcsaprov|3(b)}} '''{{vmcsaprov|Calculations}}'''. All calculations of {{vmcsaprov|Value}} and {{vmcsaprov|Exposure}} for purposes of Paragraph {{vmcsaprov|2}} and Paragraph {{vmcsaprov|4(a)}} will be made by the relevant {{vmcsaprov|Valuation Agent}} as of the relevant {{vmcsaprov|Valuation Time}}, provided that, the {{vmcsaprov|Valuation Agent}} may use, in the case of any calculation of (i) {{vmcsaprov|Value}}, {{vmcsaprov|Values}} most recently reasonably available for [[close of business]] in the relevant market for the relevant {{vmcsaprov|Eligible Credit Support (VM)}} as of the {{vmcsaprov|Valuation Time}} and (ii) {{vmcsaprov|Exposure}}, relevant information or data most recently reasonably available for close of business in the relevant market(s) as of the {{vmcsaprov|Valuation Time}}. The {{vmcsaprov|Valuation Agent}} will notify each party (or the other party, if the {{vmcsaprov|Valuation Agent}} is a party) of its calculations not later than the {{vmcsaprov|Notification Time}} on the {{vmcsaprov|Local Business Day}} following the applicable {{vmcsaprov|Valuation Date}} (or, in the case of Paragraph {{vmcsaprov|4}}(a), following the date of calculation). <br>

Revision as of 12:29, 2 December 2019

3(b) Calculations. All calculations of Value and Exposure for purposes of Paragraph 2 and Paragraph 4(a) will be made by the relevant Valuation Agent as of the relevant Valuation Time, provided that, the Valuation Agent may use, in the case of any calculation of (i) Value, Values most recently reasonably available for close of business in the relevant market for the relevant Eligible Credit Support (VM) as of the Valuation Time and (ii) Exposure, relevant information or data most recently reasonably available for close of business in the relevant market(s) as of the Valuation Time. The Valuation Agent will notify each party (or the other party, if the Valuation Agent is a party) of its calculations not later than the Notification Time on the Local Business Day following the applicable Valuation Date (or, in the case of Paragraph 4(a), following the date of calculation).

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