82,465
edits
Set-off - ISDA Provision: Difference between revisions
Jump to navigation
Jump to search
→Commentary
Amwelladmin (talk | contribs) |
Amwelladmin (talk | contribs) |
||
| Line 9: | Line 9: | ||
==Commentary== | ==Commentary== | ||
In a nutshell <superscript>(TM)</superscript> | |||
{{box|. Without prejudice to its other rights, an {{isdaprov|Innocent Party}} may set-off any part of an {{isdaprov|Early Termination Amount}} (in respect of all outstanding {{isdaprov|Transactions}}) against any “Other Amounts” payable under any agreement between the parties. <br> | |||
To do so it may: | |||
*convert one such amount into the other’s currency at a commercially reasonable rate. | |||
*make a good faith estimate of any unascertained obligation, provided it accounts for any difference when such an amount is finally ascertained. <br> | |||
The Innocent Party must give notice of any set-off.<br> | |||
This clause does not create a charge or other security interest.}} | |||
==={{1992ma}}=== | ==={{1992ma}}=== | ||