Template:ISDA Master Agreement 1992 Loss: Difference between revisions

“'''Loss'''” means, with respect to this {{isdaprov|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 {{isdaprov|Agreement}} or that {{isdaprov|Terminated Transaction}} or group of {{isdaprov|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). {{isdaprov|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 {{isdaprov|6(e)(i)}} (1) or (3) or {{isdaprov|6(e)(ii)}}(2)(A) applies. {{isdaprov|Loss}} does not include a party’s legal fees and out-of-pocket expenses referred to under Section {{isdaprov|11}}. A party will determine its {{isdaprov|Loss}} as of the relevant {{isdaprov|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 {{isdaprov|Loss}} by reference to quotations of relevant rates or prices from one or more leading dealers in the relevant markets. <br>