GMRA Anatomy™
In a Nutshell™ Clause 2(ii):
2(ii) The Price Differential for any Transaction is Pricing Rate * Purchase Price * day count fraction for the actual number of days from (and including) the Purchase Date to (but excluding) the earlier of the calculation date and the Repurchase Date;
view template
Global Master Repurchase Agreement full text of Clause 2(ii):
2(ii) “Price Differential”, with respect to any Transaction as of any date, the aggregate amount obtained by daily application of the Pricing Rate for such Transaction to the Purchase Price for such Transaction (on a 360 day basis or 365 day basis in accordance with the applicable ISMA convention, unless otherwise agreed between the parties for the Transaction), for the actual number of days during the period commencing on (and including) the Purchase Date for such Transaction and ending on (but excluding) the date of calculation or, if earlier, the Repurchase Date;
view template
|