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| ==Article 12 {{cddprov|Initial Payment Amount}}, Fixed Amounts And {{cddprov|Floating Rate Payer Calculation Amount}}==
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| '''Section {{cddprov|12.1}} Initial Payment'''. If an {{cddprov|Initial Payment Payer}} and an {{cddprov|Initial Payment Amount}} are specified in the related Confirmation, the {{cddprov|Initial Payment Payer}} will pay to the other party an amount equal to the {{cddprov|Initial Payment Amount}} on the Initial Payment Date.<br>
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| '''Section {{cddprov|12.2}} {{cddprov|Initial Payment Payer}}'''. “'''{{cddprov|Initial Payment Payer}}'''” means the party specified as such in the related Confirmation.<br>
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| '''Section {{cddprov|12.3}} {{cddprov|Initial Payment Amount}}'''. “'''{{cddprov|Initial Payment Amount}}'''” means the amount specified as such in the related Confirmation.<br>
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| '''Section {{cddprov|12.4}} Initial Payment Date'''. “'''{{cddprov|Initial Payment Date}}'''” means the date specified as such in the related Confirmation, or, if no such date is specified, the date that is three {{cddprov|Business Day}}s immediately following the Trade Date.<br>
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| '''Section {{cddprov|12.5}} Fixed Amount'''. “'''{{cddprov|Fixed Amount}}'''” means, in respect of a {{cddprov|Credit Derivative Transaction}} and a Fixed Rate Payer, an amount that, subject to any applicable condition precedent, is payable by the Fixed Rate Payer on a {{cddprov|Fixed Rate Payer Payment Date}} and is specified in the related {{cddprov|Confirmation}} or, if no such amount is specified, is determined in accordance with Section {{cddprov|12.12}} (Calculation of Fixed Amount).<br>
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| '''Section {{cddprov|12.6}} Fixed Rate Payer'''. “'''{{cddprov|Fixed Rate Payer}}'''” means, in respect of a {{cddprov|Credit Derivative Transaction}}, the party specified as such in the related Confirmation.<br>
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| '''Section {{cddprov|12.7}} {{cddprov|Fixed Rate Payer Calculation Amount}}'''. “'''{{cddprov|Fixed Rate Payer Calculation Amount}}'''” means the amount specified as such in the related {{cddprov|Confirmation}} or, if an amount is not so specified, the {{cddprov|Floating Rate Payer Calculation Amount}}.<br>
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| '''Section {{cddprov|12.8}} {{cddprov|Fixed Rate Payer Period End Date}}'''. “'''{{cddprov|Fixed Rate Payer Period End Date}}'''” means each date specified as such in the related {{cddprov|Confirmation}} or, if no such dates are specified, each date specified in the related {{cddprov|Confirmation}} as a {{cddprov|Fixed Rate Payer Payment Date}}.<br>
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| '''Section {{cddprov|12.9}} {{cddprov|Fixed Rate Payer Calculation Period}}'''. “'''{{cddprov|Fixed Rate Payer Calculation Period}}'''” means each period from, and including, one {{cddprov|Fixed Rate Payer Period End Date}} to, but excluding, the next following {{cddprov|Fixed Rate Payer Period End Date}}, except that (a) the initial {{cddprov|Fixed Rate Payer Calculation Period}} will commence on and include the Effective Date and (b) the final {{cddprov|Fixed Rate Payer Calculation Period}} will end on and include the earliest to occur of (i) the {{cddprov|Scheduled Termination Date}}, (ii) the {{cddprov|Event Determination Date}}and (iii) with respect to a {{cddprov|Reference Obligation Only}} Trade only, the Termination Date.<br>
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| '''Section {{cddprov|12.10}} Effective Date'''. “'''{{cddprov|Effective Date}}'''” means the date specified as such in the related Confirmation, and if a date is not so specified, the {{cddprov|Fixed Rate Payer Payment Date}} falling on or immediately prior to the calendar day immediately following the Trade Date. The Effective Date shall not be subject to adjustment in accordance with any {{cddprov|Business Day Convention}}.<br>
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| '''Section {{cddprov|12.11}} {{cddprov|Fixed Rate Payer Payment Date}}'''. “'''{{cddprov|Fixed Rate Payer Payment Date}}}'''” means each date specified as such in the related Confirmation, provided that (a) if an {{cddprov|Event Determination Date}}occurs, the earlier of the {{cddprov|Termination Date}} and the first Settlement Date with respect to the {{cddprov|Credit Event}} to which such {{cddprov|Event Determination Date}}relates, shall be the final {{cddprov|Fixed Rate Payer Payment Date}} and (b) if the {{cddprov|Credit Derivative Transaction}} is a {{cddprov|Reference Obligation Only}} Trade and the {{cddprov|Termination Date}} occurs other than following the occurrence of an {{cddprov|Event Determination Date}}, the final {{cddprov|Fixed Rate Payer Payment Date}} shall be the Termination Date.<br>
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| '''Section {{cddprov|12.12}} Calculation of Fixed Amount'''. The Fixed Amount payable by a Fixed Rate Payer on a {{cddprov|Fixed Rate Payer Payment Date}} will be:<br>
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| :(a) if an amount is specified in the related {{cddprov|Confirmation}} as the Fixed Amount payable by the Fixed Rate Payer for that {{cddprov|Fixed Rate Payer Payment Date}} or for the related {{cddprov|Fixed Rate Payer Calculation Period}}, such amount; or<br>
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| :(b) if an amount is not specified in the related {{cddprov|Confirmation}} as the Fixed Amount payable by the Fixed Rate Payer for that {{cddprov|Fixed Rate Payer Payment Date}} or for the related {{cddprov|Fixed Rate Payer Calculation Period}}, an amount calculated on a formula basis for that {{cddprov|Fixed Rate Payer Payment Date}} or for the related {{cddprov|Fixed Rate Payer Calculation Period}} as follows:<br>
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| Fixed Amount = {{cddprov|Fixed Rate Payer Calculation Amount}} x Fixed Rate x {{cddprov|Fixed Rate Day Count Fraction}}<br>
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| '''Section {{cddprov|12.13}} Fixed Rate'''. “'''{{cddprov||Fixed Rate}}'''” means, for any {{cddprov|Fixed Rate Payer Payment Date}} or for any {{cddprov|Fixed Rate Payer Calculation Period}} in respect of a {{cddprov|Fixed Rate Payer Payment Date}}, a rate, expressed as a decimal, equal to the per annum rate specified in the related Confirmation.<br>
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| '''Section {{cddprov|12.14}} {{cddprov|Fixed Rate Day Count Fraction}}'''. “'''{{cddprov|Fixed Rate Day Count Fraction}}'''” means, in respect of a {{cddprov|Credit Derivative Transaction}} and the calculation of a Fixed Amount:<br>
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| :(a) if “'''{{cddprov|Actual/365}}'''” or “'''{{cddprov|Actual/Actual}}'''” is specified as applicable in the related Confirmation, the actual number of days in the {{cddprov|Fixed Rate Payer Calculation Period}} in respect of which payment is being made divided by 365 (or, if any portion of that {{cddprov|Fixed Rate Payer Calculation Period}} falls in a leap year, the sum of (i) the actual number of days in that portion of the {{cddprov|Fixed Rate Payer Calculation Period}} falling in a leap year divided by 366 and (ii) the actual number of days in that portion of the {{cddprov|Fixed Rate Payer Calculation Period}} falling in a non-leap year divided by 365);<br>
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| :(b) if “'''{{cddprov|Actual/365 (Fixed)}}'''” is specified as applicable in the related Confirmation, the actual number of days in the {{cddprov|Fixed Rate Payer Calculation Period}} in respect of which payment is being made divided by 365;<br>
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| :(c) if “'''{{cddprov|Actual/360}}'''”, “'''{{cddprov|Act/360}}'''” or “'''{{cddprov|A/360}}'''” is specified as applicable in the related Confirmation, the actual number of days in the {{cddprov|Fixed Rate Payer Calculation Period}} in respect of which payment is being made divided by 360;<br>
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| :(d) if “'''{{cddprov|30/360}}'''” or “'''{{cddprov|Bond Basis}}'''” is specified as applicable in the related Confirmation, the number of days in the {{cddprov|Fixed Rate Payer Calculation Period}} in respect of which payment is being made divided by 360 (the number of days to be calculated on the basis of a year of 360 days with twelve thirty-day months unless (i) the last day of the {{cddprov|Fixed Rate Payer Calculation Period}} is the thirty-first day of a month but the first day of the {{cddprov|Fixed Rate Payer Calculation Period}} is a day other than the thirtieth or thirty-first day of a month, in which case the month that includes that last day shall not be considered to be shortened to a thirty-day month, or (ii) the last day of the {{cddprov|Fixed Rate Payer Calculation Period}} is the last day of the month of February, in which case the month of February shall not be considered to be lengthened to a thirty-day month);<br>
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| :(e) if “'''{{cddprov|30E/360}}'''” or “'''{{cddprov|Eurobond Basis}}'''” is specified as applicable in the related Confirmation, the number of days in the {{cddprov|Fixed Rate Payer Calculation Period}} in respect of which payment is being made divided by 360 (the number of days to be calculated on the basis of a year of 360 days with twelve thirty-day months, without regard to the date of the first day or last day of the {{cddprov|Fixed Rate Payer Calculation Period}} unless, in the case of the final {{cddprov|Fixed Rate Payer Calculation Period}}, the last day of the final {{cddprov|Fixed Rate Payer Calculation Period}} is the last day of the month of February, in which case the month of February shall not be considered to be lengthened to a thirty-day month); and<br>
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| :(f) if neither “'''{{cddprov|Actual/365}}'''”, “'''{{cddprov|Actual/Actual}}'''”, “'''{{cddprov|Actual/365 (Fixed)}}'''”, “'''{{cddprov|Actual/360}}'''”, “'''{{cddprov|Act/360}}'''”, “'''{{cddprov|A/360}}'''”, “'''{{cddprov|30/360}}'''”, “'''{{cddprov|Bond Basis}}'''”, “'''{{cddprov|30E/360}}'''” nor “'''{{cddprov|Eurobond Basis}}'''” is specified as applicable in the related Confirmation, the {{cddprov|Fixed Rate Day Count Fraction}} shall be “'''{{cddprov|Actual/360}}'''”.<br>
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| '''Section {{cddprov|12.15}} Relating Fixed Rate Payer Payments to {{cddprov|Fixed Rate Payer Calculation Period}}s'''. Unless otherwise specified in the related Confirmation, where the Fixed Amount is calculated by reference to a {{cddprov|Fixed Rate Payer Calculation Period}}, the Fixed Amount applicable to a {{cddprov|Fixed Rate Payer Payment Date}} will be the Fixed Amount calculated with reference to the {{cddprov|Fixed Rate Payer Calculation Period}} ending on, but excluding, the {{cddprov|Fixed Rate Payer Period End Date}} that is (or is closest in time to) that {{cddprov|Fixed Rate Payer Payment Date}} or, in the case of the final {{cddprov|Fixed Rate Payer Calculation Period}}, ending on and including the earliest to occur of (a) the {{cddprov|Scheduled Termination Date}}, (b) the {{cddprov|Event Determination Date}}and (c) in the case of a {{cddprov|Reference Obligation Only}} Trade only, the Termination Date.<br>
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| '''Section {{cddprov|12.16}} Floating Rate Payer'''. “'''{{cddprov|Floating Rate Payer}}'''” means, in respect of a {{cddprov|Credit Derivative Transaction}}, the party specified as such in the related Confirmation.<br>
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| '''Section {{cddprov|12.17}} {{cddprov|Floating Rate Payer Calculation Amount}}'''. “'''{{cddprov|Floating Rate Payer Calculation Amount}}'''” means, on the Trade Date, the amount specified as such in the related {{cddprov|Confirmation}} and on any day thereafter, such amount as may have been reduced pursuant to Sections {{cddprov|1.18}} (Different Event Determination Dates), {{cddprov|1.33}} ({{cddprov|Credit Event Notice}} after {{cddprov|M(M)R Restructuring}}), or {{cddprov|2.2}}(n)(ii) (Provisions for Determining a Successor).<br>
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| ==Article 13 Credit Derivatives Physical Settlement Matrix== | | ==Article 13 Credit Derivatives Physical Settlement Matrix== |
| '''Section {{cddprov|13.1}} Application of Credit Derivatives Physical Settlement Matrix'''. In respect of a {{cddprov|Credit Derivative Transaction}} whose {{cddprov|Confirmation}} identifies a “'''{{cddprov|Transaction Type}}'''” that is included in the Credit Derivatives Physical Settlement Matrix, the terms set out in the Credit Derivatives Physical Settlement Matrix with respect to such “'''{{cddprov|Transaction Type}}'''” shall be deemed to apply to that {{cddprov|Credit Derivative Transaction}}, provided that the relevant {{cddprov|Confirmation}} does not specify any inconsistent terms, in which case the terms specified in such {{cddprov|Confirmation}} shall prevail.<br> | | '''Section {{cddprov|13.1}} Application of Credit Derivatives Physical Settlement Matrix'''. In respect of a {{cddprov|Credit Derivative Transaction}} whose {{cddprov|Confirmation}} identifies a “'''{{cddprov|Transaction Type}}'''” that is included in the Credit Derivatives Physical Settlement Matrix, the terms set out in the Credit Derivatives Physical Settlement Matrix with respect to such “'''{{cddprov|Transaction Type}}'''” shall be deemed to apply to that {{cddprov|Credit Derivative Transaction}}, provided that the relevant {{cddprov|Confirmation}} does not specify any inconsistent terms, in which case the terms specified in such {{cddprov|Confirmation}} shall prevail.<br> |