Template:2014 ISDA Credit Derivatives Definitions 12: Difference between revisions

'''Section {{cddprov|12.4}} Initial Payment Date'''. “'''{{cddprov|Initial Payment Date}}'''” means the date specified as such in the related Confirmation, or, if no such date is specified, the date that is three {{cddprov|Business Day}}s immediately following the Trade Date.<br>

'''Section {{cddprov|12.5}} Fixed Amount'''. “'''{{cddprov|Fixed Amount}}'''” means, in respect of a {{cddprov|Credit Derivative Transaction}} and a Fixed Rate Payer, an amount that, subject to any applicable condition precedent, is payable by the Fixed Rate Payer on a {{cddprov|Fixed Rate Payer Payment Date}} and is specified in the related {{cddprov|Confirmation}} or, if no such amount is specified, is determined in accordance with Section {{cddprov|12.12}} (Calculation of Fixed Amount).<br>

'''Section {{cddprov|12.7}} {{cddprov|Fixed Rate Payer Calculation Amount}}'''. “'''{{cddprov|Fixed Rate Payer Calculation Amount}}'''” means the amount specified as such in the related {{cddprov|Confirmation}} or, if an amount is not so specified, the {{cddprov|Floating Rate Payer Calculation Amount}}.<br>

'''Section {{cddprov|12.8}} {{cddprov|Fixed Rate Payer Period End Date}}'''. “'''{{cddprov|Fixed Rate Payer Period End Date}}'''” means each date specified as such in the related {{cddprov|Confirmation}} or, if no such dates are specified, each date specified in the related {{cddprov|Confirmation}} as a {{cddprov|Fixed Rate Payer Payment Date}}.<br>

:(f) if neither “'''{{cddprov|Actual/365}}'''”, “'''{{cddprov|Actual/Actual}}'''”, “'''{{cddprov|Actual/365 (Fixed)}}'''”, “'''{{cddprov|Actual/360}}'''”, “'''{{cddprov|Act/360}}'''”, “'''{{cddprov|A/360}}'''”, “'''{{cddprov|30/360}}'''”, “'''{{cddprov|Bond Basis}}'''”, “'''{{cddprov|30E/360}}'''” nor “'''{{cddprov|Eurobond Basis}}'''” is specified as applicable in the related Confirmation, the {{cddprov|Fixed Rate Day Count Fraction}} shall be “'''{{cddprov|Actual/360}}'''”.<br>

'''Section {{cddprov|12.15}} Relating Fixed Rate Payer Payments to {{cddprov|Fixed Rate Payer Calculation Period}}s'''. Unless otherwise specified in the related Confirmation, where the Fixed Amount is calculated by reference to a {{cddprov|Fixed Rate Payer Calculation Period}}, the Fixed Amount applicable to a {{cddprov|Fixed Rate Payer Payment Date}} will be the Fixed Amount calculated with reference to the {{cddprov|Fixed Rate Payer Calculation Period}} ending on, but excluding, the {{cddprov|Fixed Rate Payer Period End Date}} that is (or is closest in time to) that {{cddprov|Fixed Rate Payer Payment Date}} or, in the case of the final {{cddprov|Fixed Rate Payer Calculation Period}}, ending on and including the earliest to occur of (a) the {{cddprov|Scheduled Termination Date}}, (b) the {{cddprov|Event Determination Date}}and (c) in the case of a {{cddprov|Reference Obligation Only}} Trade only, the Termination Date.<br>

'''Section {{cddprov|12.17}} {{cddprov|Floating Rate Payer Calculation Amount}}'''. “'''{{cddprov|Floating Rate Payer Calculation Amount}}'''” means, on the Trade Date, the amount specified as such in the related {{cddprov|Confirmation}} and on any day thereafter, such amount as may have been reduced pursuant to Sections {{cddprov|1.18}} (Different Event Determination Dates), {{cddprov|1.33}} ({{cddprov|Credit Event Notice}} after {{cddprov|M(M)R Restructuring}}), or {{cddprov|2.2}}(n)(ii) (Provisions for Determining a Successor).<br>