Template:ISDA Master Agreement 1992 2(e): Difference between revisions

From The Jolly Contrarian
Jump to navigation Jump to search
← Older edit
VisualWikitext
No edit summary
No edit summary
 
Line 1: Line 1:
{{isdaprov|2(e)}} '''{{isdaprov|Default Interest; Other Amounts}}'''. Prior to the occurrence or effective designation of an {{isdaprov|Early Termination Date}} in respect of the relevant {{isdaprov|Transaction}}, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section {{isdaprov|6(c)}}, be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the {{isdaprov|Default Rate}}. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an {{isdaprov|Early Termination Date}} in respect of the relevant {{isdaprov|Transaction}}, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant {{isdaprov|Confirmation}} or elsewhere in this {{isdaprov|Agreement}}. <br />
{{isda92prov|2(e)}} '''{{isda92prov|Default Interest; Other Amounts}}'''. Prior to the occurrence or effective designation of an {{isda92prov|Early Termination Date}} in respect of the relevant {{isda92prov|Transaction}}, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section {{isda92prov|6(c)}}, be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the {{isda92prov|Default Rate}}. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an {{isda92prov|Early Termination Date}} in respect of the relevant {{isda92prov|Transaction}}, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant {{isda92prov|Confirmation}} or elsewhere in this {{isda92prov|Agreement}}. <br />

Latest revision as of 18:56, 2 February 2020

2(e) Default Interest; Other Amounts. Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.

Retrieved from "https://jollycontrarian.com/index.php?title=Template:ISDA_Master_Agreement_1992_2(e)&oldid=39765"