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. If there is one Affected Party, the Early Termination Amount will be determined as if they wereEvents of Default under Section 6(e)(i) (but note the Mid-Market Events rider below).
- (2) Two Affected Parties. If there are two Affected Parties, each party will determine the Termination Currency Equivalent of the Close-out Amounts for all 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 minus
- (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 either case where the Termination Event is 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.