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Set-off - ISDA Provision: Difference between revisions
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→A slight asymmetry?
Amwelladmin (talk | contribs) |
Amwelladmin (talk | contribs) |
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*Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40. | *Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40. | ||
* {{isdaprov|Payee}} is | *'''''Whoops: {{isdaprov|Payee}} is still owed 40 by {{isdaprov|Payer}} so is an unsecured creditor ''''' | ||
}} | }} | ||
Not ideal. But fixable if you're prepare to add some dramatically anal language: | |||
{{box| {{isdaprov|6(f)}} {{isdaprov|Set-Off}}. Any {{isdaprov|Early Termination Amount}} '''''(or any other amounts whether or not arising under this Agreement, matured , contingent and irrespective of the currency, place of payment of booking of the obligation)''''' payable to one party (the “Payee”) by the other party (the “Payer”), ...}} | |||
====Affiliates==== | ====Affiliates==== | ||
The 2002 ISDA contains a standard {{isdaprov|Set-off}} provision which refers to a “Payer” and “Payee”. | The 2002 ISDA contains a standard {{isdaprov|Set-off}} provision which refers to a “Payer” and “Payee”. | ||