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Expenses - ISDA Provision: Difference between revisions
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==Commentary== | ==Commentary== | ||
Observers will note that, but for the odd comma, these two provisions are identical. And revolutionarily brief. Not that they | Observers will note that, but for the odd comma, these two provisions are identical. And revolutionarily brief. Not that they ''couldn’t'' be improved, of course; they just weren’t. | ||
The {{isdaprov|Expenses}} referred to in this provision would not be captured by the definition of "'''{{isdaprov|Close Out Amount}}'''" or "'''{{isdaprov|Early Termination Amount}}'''" because, [[qed]], they arise only once that amount has been determined and the non-defaulting party is in the process of collecting it. | The {{isdaprov|Expenses}} referred to in this provision would not be captured by the definition of "'''{{isdaprov|Close Out Amount}}'''" or "'''{{isdaprov|Early Termination Amount}}'''" because, [[qed]], they arise only once that amount has been determined and the non-defaulting party is in the process of collecting it. | ||
{{anat|isda}} | {{anat|isda}} | ||