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Netting of Payments - ISDA Provision: Difference between revisions
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Netting of Payments - ISDA Provision (view source)
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===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 | 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}}. | ||
See, for close-out netting: | See, for close-out netting: | ||