Loss - 1992 ISDA Provision: Difference between revisions

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Loss - 1992 ISDA Provision (view source)

Revision as of 10:12, 5 July 2017

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=={{1992ma}}==
{{fullanat2|isda|2002|Close-out Amount|Loss|1992}}
 
“'''Loss'''” means, with respect to this Agreement or one or more {{isdaprov|Terminated Transactions}}, as the case may be, and
a party, the {{isdaprov|Termination Currency Equivalent}} of an amount that party reasonably determines in good faith to be
its total losses and costs (or gain, in which case expressed as a negative number) in connection with this Agreement
or that Terminated Transaction or group of Terminated Transactions, as the case may be, including any loss of
bargain, cost of funding or, at the election of such party but without duplication, loss or cost incurred as a result
of its terminating, liquidating, obtaining or reestablishing any hedge or related trading position (or any gain
resulting from any of them). Loss includes losses and costs (or gains) in respect of any payment or delivery
required to have been made (assuming satisfaction of each applicable condition precedent) on or before the
relevant {{isdaprov|Early Termination Date}} and not made, except, so as to avoid duplication, if Section 6(e)(i)(1) or (3) or
6(e)(ii)(2)(A) applies. Loss does not include a party’s legal fees and out-of-pocket expenses referred to under
Section 11. A party will determine its Loss as of the relevant Early Termination Date, or, if that is not reasonably
practicable, as of the earliest date thereafter as is reasonably practicable. A party may (but need not) determine
its Loss by reference to quotations of relevant rates or prices from one or more leading dealers in the relevant
markets.


{{isdacomparison}}
{{isdacomparison}}
2002


{{anat|isda}}
{{isia}}
{{isia}}
{{seealso}}
*{{isdaprov|Market Quotation}}
*{{isdaprov|Market Quotation}}
*{{isdaprov|Close-out Amount}}
*{{isdaprov|Close-out Amount}}
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