Talk:Deutscher rahmenvertrag: Difference between revisions

:{{drvfprov|6(5)}} '''{{drvfprov|Calculation  Period}}'''  means  the  period  beginning  with,  and including, the effective date of the {{drvfprov|Transaction}}, or a {{drvfprov|Payment Date}}, and ending with, but excluding, the next following {{drvfprov|Payment Date}} or the termination date, or, where the parties have specified '''{{drvfprov|Due Date}}/{{drvfprov|Due Date}}''' in the terms of the {{drvfprov|Transaction}} with respect to floating  amounts,  the  period  beginning  with,  and  including,  the effective date of the {{drvfprov|Transaction}}, or a {{drvfprov|Due Date}}, and ending with, but excluding, the next following {{drvfprov|Due Date}} or the termination date. For the purposes of this {{drvfprov|Agreement}}, '''{{drvfprov|Payment Date}}''' means the day on which the payment is actually to be made, where applicable after adjustment in accordance with Clause 3 sub-Clause (5), and '''{{drvfprov|Due Date}}''' means the contractually agreed day for payment, without any such adjustment.<br>

:{{drvfprov|6(6)}} If a floating amount, or a fixed amount to be calculated pursuant to sub-Clause (2) above, sentence 2, is due, the Bank shall notify the Counterparty of such amount, in the first case together with the applicable reference basis.<br>

{{drvfprov|8}} '''{{drvfprov|Claims for Damages and Compensation for Benefits Received}}'''<br>

:{{drvfprov|8(1)}} In the event of {{drvfprov|Termination}}, the party giving notice or the solvent party, as the case may be, (hereinafter called '''{{drvfprov|Party Entitled to Damages}}''') shall be entitled to claim damages. Damages shall be determined on the basis of replacement transactions, to be effected without undue delay, which provide the {{drvfprov|Party Entitled to Damages}} with all payments and the performance of all other obligations to which it would have been entitled had the {{drvfprov|Agreement}} been properly performed. Such party shall be entitled to enter into contracts which, in its opinion, are suitable for this purpose. If it refrains from entering into such substitute transactions, it may base the calculation of damages on that amount which it would have needed to pay for such replacement transactions on the basis of interest rates, forward rates, exchange rates, market prices, indices and any other calculation basis, as well as costs and expenses, at the time of giving notice or upon becoming aware of the insolvency, as the case may be. Damages shall be calculated by taking into account all {{drvfprov|Transaction}}s; any financial benefit arising from the {{drvfprov|Termination}} of {{drvfprov|Transaction}}s (including those in respect of which the {{drvfprov|Party Entitled to Damages}} has already received all payments and performance of all other obligations by the other party) shall be taken into account as a reduction of damages otherwise determined.<br>