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| =={{1992ma}}==
| | {{newisdamanual|11}} |
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| 11. Expenses
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| A Defaulting Party will, on demand, indemnify and hold harmless the other party for and against all
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| reasonable out-of-pocket expenses, including legal fees and Stamp Tax, incurred by such other party by
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| reason of the enforcement and protection of its rights under this Agreement or any Credit Support Document
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| to which the Defaulting Party is a party or by reason of the early termination of any Transaction, including,
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| but not limited to, costs of collection.
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| =={{2002ma}}==
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| 11. Expenses
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| A Defaulting Party will on demand indemnify and hold harmless the other party for and against all reasonable out-of-
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| pocket expenses, including legal fees, execution fees and Stamp Tax, incurred by such other party by reason of the
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| enforcement and protection of its rights under this Agreement or any Credit Support Document to which the
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| Defaulting Party is a party or by reason of the early termination of any Transaction, including, but not limited to,
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| costs of collection.
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| ==Commentary==
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| Observers will note that, but for the odd comma, these two provisions are identical. And revolutionarily brief. Not that they couldn't be improved, of course; they just weren't.
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| The Expenses referred to in this provision would not be captured by the definition of "{{isdaprov|Close Out Amount}}" or "{{isdaprov|Early Termination Amount}}" because, qed, they arise only once that amount has been determined and the non-defaulting party is in the process of collecting it.
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| {{isdaanatomy}}
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