Netting of Payments - ISDA Provision: Difference between revisions

Netting of Payments - ISDA Provision (view source)

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 {{fullanat2|isda|2(c)|1992|2(c)|2002}}
-===Settlement Netting===
+===[[Settlement netting]]===
-Note this section refers only to settlement {{tag|netting}} - the settlement of offsetting payments due on any day under the normal operation is the Agreement - and not the more drastic close-out {{tag|netting}} - which is the {{isdaprov|Early Termination}} of all Transactions under Section {{isdaprov|6}} and the summing of positive and negative MTMs to arrive at a settlement amount following the occurrence of an {{isdaprov|Event of Default}} or a {{isdaprov|Termination Event}}.
+Note this section refers only to settlement {{tag|netting}} — the operational settlement of offsetting payments due on any day under the normal operation of the Agreement —-  and not the more drastic [[close-out netting]], which is the {{isdaprov|Early Termination}} of all {{isdaprov|Transactions}} under Section {{isdaprov|6}}.
-See, for close-out netting:
+If you want  close-out netting, see here::
 * {{isdaprov|Single Agreement}}
 * {{isdaprov|Early Termination Amount}}