In a Nutshell™ Section 6(e)(v):
- 6(e)(v) Pre-Estimate. The parties acknowledge that:
- (a) Each Early Termination Amount is a reasonable pre-estimate of loss and not a penalty; and
- (b) neither party may recover any additional damages as a consequence of terminating Terminated Transactions.
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2002 ISDA full text of Section 6(e)(v):
- 6(e)(v) Pre-Estimate. The parties agree that an amount recoverable under this Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such amount is payable for the loss of bargain and the loss of protection against future risks, and, except as otherwise provided in this Agreement, neither party will be entitled to recover any additional damages as a consequence of the termination of the Terminated Transactions.
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Click here for the text of Section 6(e)(v) in the 1992 ISDA
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