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Amwelladmin (talk | contribs) (Created page with "Section {{{{{1}}}|2}} contains the basic nuts and bolts of your obligations under the {{{{{1}}}|Transaction}}s you execute. Pay or deliver ''what'' you’ve promised to pay or deliver, ''when'' you’ve promised to pay it or deliver it, and all will be well. =====Scheduled Settlement Date===== Though it doesn’t say so, the date on which you are obliged to pay or deliver it is the “{{{{{1}}}|Scheduled Settlement Date}}”, a definition which then shows up only in S...") |
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Section {{{{{1}}}|2}} contains the basic nuts and bolts of your obligations under the {{{{{1}}}|Transaction}}s you execute. Pay or deliver ''what'' you’ve promised to pay or deliver, ''when'' you’ve promised to pay it or deliver it, and all will be well. | Section {{{{{1}}}|2}} contains the basic nuts and bolts of your obligations under the {{{{{1}}}|Transaction}}s you execute. Pay or deliver ''what'' you’ve promised to pay or deliver, ''when'' you’ve promised to pay it or deliver it, and all will be well. | ||
===== | =====“Scheduled Settlement Date”===== | ||
Though it doesn’t say so, the date on which you are obliged to pay or deliver | Though it doesn’t say so, at least in the {{2002ma}} the date on which you are obliged to pay or deliver an amount is the “{{{{{1}}}|Scheduled Settlement Date}}”. The ’02 definition only shows up only in Section {{{{{1}}}|2(b)}} (relating to the time by which you must have notified any change of account details) and then, later, in the tax-related {{{{{1}}}|Termination Events}} ({{{{{1}}}|Tax Event}} and {{{{{1}}}|Tax Event Upon Merger}}). That said, “Scheduled Settlement Date” isn’t defined at ''all'' in the {{1992ma}}. | ||
=====Section 2(a)(iii): the [[flawed asset]] provision===== | =====Section 2(a)(iii): the [[flawed asset]] provision===== | ||
And ''then'' there’s the mighty [[flawed asset]] provision of Section {{{{{1}}}|2(a)(iii)}}. This won’t trouble ISDA [[negotiator]]s on the way ''in''to a swap trading relationship — few enough people understand it sufficiently well to argue about it — but if, as it surely will, [[Omega|the great day of judgment]] should visit upon the financial markets again some time in the future, expect plenty of tasty argument, between highly-paid King’s Counsel who have spent exactly ''none'' of their careers considering derivative contracts, about what it means. | And ''then'' there’s the mighty [[flawed asset]] provision of Section {{{{{1}}}|2(a)(iii)}}. This won’t trouble ISDA [[negotiator]]s on the way ''in''to a swap trading relationship — few enough people understand it sufficiently well to argue about it — but if, as it surely will, [[Omega|the great day of judgment]] should visit upon the financial markets again some time in the future, expect plenty of tasty argument, between highly-paid King’s Counsel who have spent exactly ''none'' of their careers considering derivative contracts, about what it means. | ||
We have some thoughts on that topic, should you be interested, at Section {{{{{1}}}|2(a)(iii)}}. | We have some thoughts on that topic, should you be interested, at Section {{{{{1}}}|2(a)(iii)}}. |