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Template:ISDA English Law Credit Support Annex 1995 4(a): Difference between revisions
Template:ISDA English Law Credit Support Annex 1995 4(a) (view source)
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{{csaprov|4(a)}} '''{{csaprov|Disputed Calculations or Valuations}}'''. If a party (a "'''{{csaprov|Disputing Party}}'''") reasonably disputes (I) the <br>{{csaprov|Valuation Agent}}’s calculation of a {{csaprov|Delivery Amount}} or a {{csaprov|Return Amount}} or (II) the {{csaprov|Value}} of any transfer <br>of {{csaprov|Eligible Credit Support}} or {{csaprov|Equivalent Credit Support}}, then:<br> | {{csaprov|4(a)}} '''{{csaprov|Disputed Calculations or Valuations}}'''. If a party (a "'''{{csaprov|Disputing Party}}'''") reasonably disputes (I) the <br>{{csaprov|Valuation Agent}}’s calculation of a {{csaprov|Delivery Amount}} or a {{csaprov|Return Amount}} or (II) the {{csaprov|Value}} of any transfer <br>of {{csaprov|Eligible Credit Support}} or {{csaprov|Equivalent Credit Support}}, then:<br> | ||
:(1) the {{csaprov|Disputing Party}} will notify the other party and the {{csaprov|Valuation Agent}} (if the Valuation <br>Agent is not the other party) not later than the close of business on the {{csaprov|Local Business Day}} <br>following, in the case of (I) above, the date that the demand is received under Paragraph {{csaprov|2}} or, in the <br>case of (II) above, the date of transfer;<br> | :(1) the {{csaprov|Disputing Party}} will notify the other party and the {{csaprov|Valuation Agent}} (if the Valuation <br>Agent is not the other party) not later than the close of business on the {{csaprov|Local Business Day}} <br>following, in the case of (I) above, the date that the demand is received under Paragraph {{csaprov|2}} or, in the <br>case of (II) above, the date of transfer;<br> | ||
:(2) in the case of (I) above, the appropriate party will transfer the undisputed amount to the <br>other party not later than the close of business on the | :(2) in the case of (I) above, the appropriate party will transfer the undisputed amount to the <br>other party not later than the close of business on the {{csaprov|Settlement Day}} following the date that the <br>demand is received under Paragraph {{csaprov|2}}; | ||
:(3) the parties will consult with each other in an attempt to resolve the dispute; and<br> | :(3) the parties will consult with each other in an attempt to resolve the dispute; and<br> | ||
:(4) if they fail to resolve the dispute by the Resolution Time, then:<br> | :(4) if they fail to resolve the dispute by the Resolution Time, then:<br> | ||