Final Payment - DRV-F Provision

DRV for Derivatives and Futures Anatomy™ This is an informal, non-binding and, by the looks, not massively idiomatic translation of the Deutscher Rahmenvertrag für Finanztermingeschäfte. So treat it, and the JC's summary of and uninformed musings about it, with even more caution than normal. →Go uptown In a Nutshell™ Clause 9: Template:Nutshell DRVF 9 view template DRV for Derivatives and Futures full text of Clause 9: 9 Final Payment 9(1) Unpaid amounts and any other unperformed obligations, and the damages which are payable, shall be combined by the Party Entitled to Damages into a single compensation claim denominated in Euro, for which purpose a money equivalent in Euro shall be determined, in accordance with the principles set forth in Clause 8(2) to 8(4), in respect of claims for performance of such other overdue obligations. 9(2) A compensation claim against the Party Entitled to Damages shall become due and payable only to the extent that such party does not, for any legal reason whatsoever, have any claims against the other party (Counterclaims). If Counterclaims exist, their value shall be deducted from the total amount of the compensation claim in order to determine the portion of the compensation claim that is due and payable. For the purpose of calculating the value of the Counterclaims, the Party Entitled to Damages shall: (i) to the extent that they are not payable in Euro, convert such Counterclaims into Euro at a selling rate to be determined, if possible, on the basis of the official foreign-exchange rate applicable on the day of computation, (ii) to the extent that they are not claims for the payment of money, convert them into a claim for damages expressed in Euro and (iii) to the extent that they are not yet due and payable, take them into account at their present value (also having regard to interest claims). The Party Entitled to Damages may set off the compensation claim of the other Party against the counterclaims calculated in accordance with sentence 3. To the extent that it fails to do so, the compensation claim shall become due and payable as soon as and to the extent that it exceeds the aggregate amount of Counterclaims. view template DRV-F · (wikitext) · (nutshell wikitext) Navigation: Table of contents | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 (being the Elections) Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.