Template:2021 ISDA Interest Rate Derivatives Definitions 12.5
- 12.5.1 Payment of Premium. The Buyer shall, on the Premium Payment Date or on each Premium Payment Date if more than one is specified, pay to the Seller the Premium, if any, in respect of that Premium Payment Date.
- 12.5.2 Premium. “Premium” means the amount, if any, that is specified as such in the related Confirmation (or determined pursuant to a method specified for that purpose).
- 12.5.3 Premium Payment Date. “Premium Payment Date” means one or more dates specified as such in the Confirmation (or determined pursuant to a method specified for that purpose). Unless otherwise specified in the Confirmation, the Following Business Day Convention shall apply to the Premium Payment Date.