Template:2014 ISDA Credit Derivatives Definitions 1: Difference between revisions

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Template:2014 ISDA Credit Derivatives Definitions 1 (view source)

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'''Section {{cddprov|1.5}} Calculation Agent'''. “'''{{cddprov|Calculation Agent}}'''” means the party to a {{cddprov|Credit Derivative Transaction}} (or a third party) specified as such in the related {{cddprov|Confirmation}} (or, if a person is not so specified, {{cddprov|Seller}}) who is responsible for making the determinations required to be made by the {{cddprov|Calculation Agent}} under the {{cddprov|Credit Derivative Transaction}} in accordance with the terms of the related Confirmation. Whenever the {{cddprov|Calculation Agent}} is required to act or to exercise judgment, it will do so in good faith and in a commercially reasonable manner. The {{cddprov|Calculation Agent}} shall, as soon as practicable after making any of the required determinations, notify the parties of such determination. Furthermore, each party agrees that the {{cddprov|Calculation Agent}} is not acting as a fiduciary for or as an advisor to such party in respect of its duties as {{cddprov|Calculation Agent}} in connection with any {{cddprov|Credit Derivative Transaction}}.<br>
 
'''Section {{cddprov|1.6}} Credit Derivatives Determinations Committee'''. “'''{{cddprov|Credit Derivatives Determinations Committee}}'''” means each committee established pursuant to the {{cddprov|DC Rules}} for purposes of reaching certain {{cddprov|DC Resolution}}s in connection with {{cddprov|Credit Derivative Transaction}}s .<br>
'''Section {{cddprov|1.6}} Credit Derivatives Determinations Committee'''. “'''{{cddprov|Credit Derivatives Determinations Committee}}'''” means each committee established pursuant to the {{cddprov|DC Rules}} for purposes of reaching certain {{cddprov|DC Resolution}}s in connection with {{cddprov|Credit Derivative Transaction}}s .<br>
'''Section {{cddprov|1.7}} DC Rules'''. “'''{{cddprov|DC Rules}}'''” means the Credit Derivatives Determinations Committees Rules, as published by ISDA on its website at www.isda.org (or any successor website thereto) from time to time and as amended from time to time in accordance with the terms thereof.<br>
'''Section {{cddprov|1.7}} DC Rules'''. “'''{{cddprov|DC Rules}}'''” means the Credit Derivatives Determinations Committees Rules, as published by ISDA on its website at www.isda.org (or any successor website thereto) from time to time and as amended from time to time in accordance with the terms thereof.<br>
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