Template:Nutshell 1992 ISDA 6(e)

6(e)(i) Events of Default. If the Early Termination Date follows an Event of Default: —

(1) If First Method and Market Quotation applies, the Defaulting Party must pay any positive excess of (A) the sum of Settlement Amount and the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party over (B) the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party.

(2) If First Method and Loss applies, the Defaulting Party must pay the Non-defaulting Party’s positive Loss (if it has suffered one).

(3) If Second Method and Market Quotation applies, the amount payable will be (A) the sum of the Settlement Amount for the Terminated Transactions and the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party less (B) the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party. If positive, the Defaulting Party will pay that amount to the Non-defaulting Party; if negative, the Non-defaulting Party will pay its absolute value to the Defaulting Party.

(4) If Second Method and Loss applies, the Non-defaulting Party’s Loss in respect of this Agreement will be payable. If it is positive number, the Defaulting Party will pay it to the Non-defaulting Party; if negative, the Non-defaulting Party will pay its absolute value to the Defaulting Party.