Template:M comp disc 2002 ISDA 6(e)

The 1992 ISDA does not define “Early Termination Amount” but refers to it obliquely in Section 6(e) as:

...The amount, if any, payable in respect of an Early Termination Date and determined pursuant to this Section ...

Correctly, it is best referred to as a “Section 6(e) Amount” under the 1992 ISDA, although of course everyone does call it the Early Termination Amount. This inevitability was recognised in the 2002 ISDA, where it is defined in Section 6(e) as follows:

... the amount, if any, payable in respect of that Early Termination Date.

But the 2002 ISDA also has a “Close-out Amount”, so you may want to know what the difference between the Early Termination Amount and the Close-out Amount, you know, is. Yes?