Template:Nutshell 1992 ISDA Local Business Day

“Local Business Day” means a day on which commercial banks are open:

(a) Transaction payments and deliveries: for any payment or delivery under a Transaction, where specified in the Confirmation,

(b) Other payments: for any other payment, where the relevant account is located and any principal financial centre of the currency of the payment,

(c) Communications: for any communication, in the city specified in the recipient’s specified address and, for a Section 2(b) notice, where the new account is to be located, and

(d) DUST: for a Default Under Specified Transaction, in the locations for performance for the Specified Transaction.