Default Rate - ISDA Provision

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2002 ISDA Master Agreement
A Jolly Contrarian owner’s manual™

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Section Default Rate in a Nutshell

Use at your own risk, campers!
Default Rate” means the payee’s self-certified cost of funding plus 1% per annum.

Full text of Section Default Rate

Default Rate” means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the relevant payee (as certified by it) if it were to fund or of funding the relevant amount plus 1% per annum.

Related agreements and comparisons

Related Agreements
Click here for the text of Section Default Rate in the 1992 ISDA
Comparisons
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Content and comparisons

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Summary

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General discussion

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See also

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References

One for the “thanks for writing in, fellas” file.