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Early Termination Amount - ISDA Provision: Difference between revisions
Early Termination Amount - ISDA Provision (view source)
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{{isdaprov|Early Termination Amount}} is not actually defined in the {{1992ma}}, but is referred to obliquely in Section {{isdaprov|6(e)}} as: | {{isdaprov|Early Termination Amount}} is not actually defined in the {{1992ma}}, but is referred to obliquely in Section {{isdaprov|6(e)}} as: | ||
:''...The amount, if any, payable in respect of an Early Termination Date and determined pursuant to this Section ...'' | :''...The amount, [[if any]], payable in respect of an {{isdaprov|Early Termination Date}} and determined pursuant to this Section ...'' | ||
Correctly, it is best referred to as a "Section {{isdaprov|6(e)}} Amount" under the {{1992ma}}, although of course everyone does call it the ''Early Termination Amount''. This inevitability was recognised in the {{2002ma}}, where it is defined in Section 6(e) as follows: | Correctly, it is best referred to as a "Section {{isdaprov|6(e)}} Amount" under the {{1992ma}}, although of course everyone does call it the ''{{isdaprov|Early Termination Amount}}''. This inevitability was recognised in the {{2002ma}}, where it is defined in Section {{isdaprov|6(e)}} as follows: | ||
:''... the amount, if any, payable in respect of that {{isdaprov|Early Termination Date}}.'' | :''... the amount, if any, payable in respect of that {{isdaprov|Early Termination Date}}.'' | ||
But the {{2002ma}} also has a close-out Amount, so you may want to know what is {{isdaprov|the difference between the Early Termination Amount and the Close-out Amount}}. Yes? Go on, then! | But the {{2002ma}} also has a close-out Amount, so you may want to know what is {{isdaprov|the difference between the Early Termination Amount and the Close-out Amount}}. Yes? Go on, then! | ||