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Second Method - ISDA Provision: Difference between revisions
Second Method - ISDA Provision (view source)
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*'''{{isdaprov|Second Method}}''': the net [[close-out]] amount is always paid out to the party to which it is due, regardless whether it is the {{isdaprov|Defaulting Party}} or the {{isdaprov|Non-defaulting party}}. {{isdaprov|First Method}} is a backdoor to withhold payments due under the {{isdama}} and set those off with other (possible) defaulted payments and is therefore undesirable. | *'''{{isdaprov|Second Method}}''': the net [[close-out]] amount is always paid out to the party to which it is due, regardless whether it is the {{isdaprov|Defaulting Party}} or the {{isdaprov|Non-defaulting party}}. {{isdaprov|First Method}} is a backdoor to withhold payments due under the {{isdama}} and set those off with other (possible) defaulted payments and is therefore undesirable. | ||
===See also=== | |||
*{{isdaprov|General Conditions}} - the ominous subject of Section {{isdaprov|2(a)(iii)}} and the [[Metavante]] case. | |||
{{isdaanatomy}} | {{isdaanatomy}} | ||