82,469
edits
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 6: | Line 6: | ||
For example: | For example: | ||
*{{isdaprov|Payer}} owes Payee an {{ETA}} of 10 | *{{isdaprov|Payer}} owes Payee an {{ETA}} of 10 | ||
*{{isdaprov|Payee}} owes {{isdaprov|Payer}} {{isdaprov|Other Amounts}} of 50 | *{{isdaprov|Payee}} owes {{isdaprov|Payer}} {{isdaprov|Other Amounts}} of 50 | ||
---- | ---- | ||
*Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40. | *Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40. | ||
But what if there are {{isdaprov|Other Amounts}} payable the same way as the {{isdaprov|Early Termination Amount}}? | But what if there are {{isdaprov|Other Amounts}} payable the same way as the {{isdaprov|Early Termination Amount}}? | ||
*{{isdaprov|Payer}} owes Payee an {{ETA}} of 10 | *{{isdaprov|Payer}} owes Payee an {{ETA}} of 10 | ||
*'''{{isdaprov|Payer}} owes Payee {{isdaprov|Other Amounts}} of 40''' | *'''{{isdaprov|Payer}} owes Payee {{isdaprov|Other Amounts}} of 40''' | ||
Line 21: | Line 19: | ||
*Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40. | *Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40. | ||
*'''''Whoops: {{isdaprov|Payee}} is still owed 40 by {{isdaprov|Payer}} so is an unsecured creditor ''''' | *'''''Whoops: {{isdaprov|Payee}} is still owed 40 by {{isdaprov|Payer}} so is an unsecured creditor ''''' | ||
Not ideal. But fixable if | Not ideal. But fixable if you’re prepare to add some dramatically anal language: | ||
:{{isdaprov|6(f)}} {{isdaprov|Set-Off}}. Any {{isdaprov|Early Termination Amount}} ''(or any other amounts, whether or not arising under this {{isdaprov|Agreement}}, matured, contingent and irrespective of the currency, place of payment of booking of the obligation)” payable to one party (the “'''Payee'''”) by the other party (the “'''Payer'''”), ...}} | |||
===Cross-[[affiliate]] [[set-off]]=== | ===Cross-[[affiliate]] [[set-off]]=== |