Template:Nutshell 1995 CSA Exposure

“Exposure” means, with respect to a party on a Valuation Date any amount payable to one party by the other (if so a positive number) or by that party to the other (if so a negative number) under Section 6(e)(ii)(1) if all Transactions (other than the CSA) were being terminated at the Valuation Time, assuming that:

(i) that party is not the Affected Party and

(ii) the Base Currency is the Termination Currency;

provided that the Valuation Agent will determine Market Quotations based on its mid-market estimates for Replacement Transactions (as conteomplated in “Market Quotation”).