Base Currency Equivalent - VM CSA Provision

2016 ISDA Credit Support Annex (VM) (English law)
A Jolly Contrarian owner’s manual™

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Resources Full wikitext \| Nutshell wikitext Navigation 1 (Interpretation) \| 2 (Credit Support Obligations) \| 3 (Transfers, Calculations and Exchanges) \| 4 (Dispute Resolution) \| 5 (Title Transfer etc) \| 6 (Default) \| 7 (Representation) \| 8 (Expenses) \| 9 (Miscellaneous) \| 10 (Definitions) \| 11 (Elections and Variables) Index: Click ᐅ to expand: 2016 VM CSA 2018 CSD 1995 CSA

Paragraph Base Currency Equivalent in a Nutshell™

Use at your own risk, campers!

“Base Currency Equivalent” of an amount in a currency other than the Base Currency (the “Other Currency”) is the amount of Base Currency the Valuation Agent determines is needed to buy that Other Currency amount at the prevailing spot exchange rate on the Valuation Date. view template

Full text of Paragraph Base Currency Equivalent

“Base Currency Equivalent” means, with respect to an amount on a Valuation Date, in the case of an amount denominated in the Base Currency, such Base Currency amount and, in the case of an amount denominated in a currency other than the Base Currency (the “Other Currency”), the amount of Base Currency required to purchase such amount of the Other Currency at the spot exchange rate on such Valuation Date as determined by the Valuation Agent. view template