Template:Nutshell 2002 ISDA 6(e)(ii)
- 6(e)(ii) Termination Events. If the Early Termination Date results from a Termination Event:―
- (1) One Affected Party. Subject to clause 6(e)(ii)(3), if there is one Affected Party, the Early Termination Amount will be determined the same was as for Events of Default under Section 6(e)(i) mutatis mutandis.
- (2) Two Affected Parties. Subject to clause 6(e)(ii)(3) below, if there are two Affected Parties, each party will determine the Termination Currency Equivalent of the total the Close-out Amounts for each Terminated Transaction and the Early Termination Amount will be:
- (A) the sum of
- (I) half of the difference between the higher amount (determined by party “X”) and the lower amount (determined by party “Y”) and
- (II) the Termination Currency Equivalent of the Unpaid Amounts owing to X less
- (I) half of the difference between the higher amount (determined by party “X”) and the lower amount (determined by party “Y”) and
- (B) the Termination Currency Equivalent of the Unpaid Amounts owing to Y.
- (A) the sum of
- If the Early Termination Amount is a positive number, Y will pay it to X; if negative , X will pay its absolute value to Y.
- (3) Mid-Market Events. In the case of an Illegality or a Force Majeure Event, when determining a Close-out Amount the Determining Party will use mid-market quotations or values that do not take into account the Determining Party’s own creditworthiness.