Template talk:IETA Master Agreement 13.2: Difference between revisions
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Amwelladmin (talk | contribs) Created page with ":{{ietaprov|13.2(b)}} Two-way {{ietaprov|Market Quotation}} {{ietaprov|Termination Payment}}. Both Parties shall go into the market and obtain three (3) mid-market quotations in the Termination Currency from third party dealers for a replacement {{ietaprov|Transaction}} for the same amount of {{ietaprov|Period Traded Allowance}}s (without taking into account the current credit-worthiness of the {{ietaprov|Requesting Party}} or any existing {{ietaprov|Credit Support Docum..." |
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:{{ietaprov|13.2(b)}} Two-way {{ietaprov|Market Quotation}} {{ietaprov|Termination Payment}}. Both Parties shall go into the market and obtain three (3) mid-market quotations in the Termination Currency from third party dealers for a replacement {{ietaprov|Transaction}} for the same amount of {{ietaprov|Period Traded Allowance}}s (without taking into account the current credit-worthiness of the {{ietaprov|Requesting Party}} or any existing {{ietaprov|Credit Support Document}}). Each Party will then calculate the average of the quotations it obtained and the amount payable shall be equal to (A) the sum of (I) one-half of the difference between the higher amount so determined (the Party determining the higher amount being “X”) and the lower amount so determined (the Party determining the lower amount being “Y”) and (II) any {{ietaprov|Unpaid Amounts}} owing to X less (B) any {{ietaprov|Unpaid Amounts}} owing to Y. If the resultant amount is a positive number, Y shall pay it to X; if it is a negative number, X shall pay the absolute value of such amount to Y. If three (3) mid- market quotations cannot be obtained, all quotations will be deemed to be zero.<br> | :{{ietaprov|13.2(b)}} Two-way {{ietaprov|Market Quotation}} {{ietaprov|Termination Payment}}. Both Parties shall go into the market and obtain three (3) mid-market quotations in the Termination Currency from third party dealers for a replacement {{ietaprov|Transaction}} for the same amount of {{ietaprov|Period Traded Allowance}}s (without taking into account the current credit-worthiness of the {{ietaprov|Requesting Party}} or any existing {{ietaprov|Credit Support Document}}). Each Party will then calculate the average of the quotations it obtained and the amount payable shall be equal to (A) the sum of (I) one-half of the difference between the higher amount so determined (the Party determining the higher amount being “X”) and the lower amount so determined (the Party determining the lower amount being “Y”) and (II) any {{ietaprov|Unpaid Amounts}} owing to X less (B) any {{ietaprov|Unpaid Amounts}} owing to Y. If the resultant amount is a positive number, Y shall pay it to X; if it is a negative number, X shall pay the absolute value of such amount to Y. If three (3) mid- market quotations cannot be obtained, all quotations will be deemed to be zero.<br> | ||
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Latest revision as of 10:04, 12 July 2023
- 13.2(b) Two-way Market Quotation Termination Payment. Both Parties shall go into the market and obtain three (3) mid-market quotations in the Termination Currency from third party dealers for a replacement Transaction for the same amount of Period Traded Allowances (without taking into account the current credit-worthiness of the Requesting Party or any existing Credit Support Document). Each Party will then calculate the average of the quotations it obtained and the amount payable shall be equal to (A) the sum of (I) one-half of the difference between the higher amount so determined (the Party determining the higher amount being “X”) and the lower amount so determined (the Party determining the lower amount being “Y”) and (II) any Unpaid Amounts owing to X less (B) any Unpaid Amounts owing to Y. If the resultant amount is a positive number, Y shall pay it to X; if it is a negative number, X shall pay the absolute value of such amount to Y. If three (3) mid- market quotations cannot be obtained, all quotations will be deemed to be zero.