Netting of Payments - ISDA Provision: Difference between revisions

:(ii) in respect of the same {{isdaprov|Transaction}}, <br>by each party to the other, then, on such date, each party’s obligation to make payment of any such amount <br>will be automatically satisfied and discharged and, if the aggregate amount that would otherwise have been <br>payable by one party exceeds the aggregate amount that would otherwise have been payable by the other <br>party, replaced by an obligation upon the party by whom the larger aggregate amount would have been <br>payable to pay to the other party the excess of the larger aggregate amount over the smaller aggregate amount. <br>The parties may elect in respect of two or more {{isdaprov|Transactions}} that a net amount will be determined in respect <br>of all amounts payable on the same date in the same currency in respect of such {{isdaprov|Transactions}}, regardless of <br>whether such amounts are payable in respect of the same {{isdaprov|Transaction}}. The election may be made in the <br>{{isdaprov|Schedule}} or a {{isdaprov|Confirmation}} by specifying that subparagraph (ii) above will not apply to the {{isdaprov|Transactions}} <br>identified as being subject to the election, together with the starting date (in which case subparagraph {{isdaprov|2(c)(ii)}} <br>above will not, or will cease to, apply to such {{isdaprov|Transactions}} from such date). This election may be made <br>separately for different groups of {{isdaprov|Transactions}} and will apply separately to each pairing of {{isdaprov|Offices}} through <br>which the parties make and receive payments or deliveries. <br>|'''{{isdaprov|Netting of Payments}}'''. If on any date amounts would otherwise be payable:―  <br>