Talk:Market Value - GMSLA Provision

2022 ISDA

“Market Value” means, unless otherwise agreed between the parties, in relation to: (i) any Securities at any time on any date: (a) the price for such Securities obtained from the Relevant Pricing Source or, if no Relevant Pricing Source is specified, a generally recognized pricing source agreed by the parties; or (b) if a price from such a source is unavailable, the price obtained from a dealer for the relevant Securities as agreed by the parties, in each case as of that time on that date, or as otherwise agreed by the parties plus, in each case, the aggregate amount of Distributions which have accrued but not yet been paid in respect of the Securities to the extent not included in such price; and (ii) cash, the amount of the currency concerned. However, if Securities are suspended or cannot legally be Transferred, or are Transferred or required to be Transferred to a government, trustee or other third party (whether by reason of nationalization, expropriation or otherwise) the Market Value of those Securities shall be the amount agreed between the parties, or, absent agreement, an estimate of the market value of the Securities as of that time on that date provided by a dealer agreed between the parties. If the parties do not agree a dealer, then the Market Value of the Securities shall be the Arithmetic Mean of the Market Value of the Securities as of that time on that date quoted by two or more leading dealers in the relevant Securities selected by the party making the determination of Market Value in good faith.