Template:Nutshell 2002 ISDA Termination Currency Equivalent

“Termination Currency Equivalent” means, for an amount denominated in another currency, the Termination Currency amount needed to buy that other amount at the relevant date using the FX agent’s spot exchange rate at 11:00 a.m. (in its location) on the day one would customarily calculate such a spot rate to purchase that currency on the relevant date.

If there is an Innocent Party it will select the FX agent in good faith. If not, the parties must agree the FX agent.