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| {{manual|MI|2002|Close-out Amount|Definition|Loss|medium}} | | {{manual|MI|2002|Close-out Amount|Definition|Loss|medium}} |
| From the [[you'll be sorry you asked]] file. Have a butchers at the nutshell version on the right:
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| If, having read that, you're still not really feeling sorry, the full text (below) right might get your remorse radar pinging.
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| Close-out amount as a concept was introduced in the {{2002ma}} and doesn't exist under the {{1992ma}}. Instead, in the good old days, terminated transactions were valued according to {{isdaprov|Market Quotation}} or {{isdaprov|Loss}} and those utterly unintuitive [[First Method - ISDA Provision|first]] and [[Second Method - ISDA Provision|second]] methods.
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| Note prominent requirement to achieve a [[reasonable]] ({{1992ma}}) or [[commercially reasonable]] ({{2002ma}}) result. On what that means see {{casenote|Barclays|Unicredit}}.
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| There are some local variations which are worth bearing in mind:
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| ==={{isdaprov|Close-out Amount}} and Italian counterparties===
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| See for more detail, here: [[Close-out Amount - ISDA Provision/Italian counterparties|Italian counterparties]]
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| ===Releationship with Early Termination Amount===
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| For those curious about {{isdaprov|the difference between the Early Termination Amount and the Close-out Amount}} in the {{2002ma}}, look no further than back there, along the sentence you've just read. Go on!
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| {{sa}}
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| *Section {{isdaprov|6(e)}} of the {{isdama}}
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| *{{isdaprov|Early Termination Amount}}
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| *{{isia}}
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| *{{isdaprov|Market Quotation}}
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| *{{isdaprov|Loss}}
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| {{isdacomparison}} <br />
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| {{sa}}
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| *{{casenote|Barclays|Unicredit}} on what amounts to acting in a [[commercially reasonable manner]]
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