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Template:Failure to pay procedure: Difference between revisions
→{{{{{1}}}|Early Termination Amount}}
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There is a bit of a [[chicken licken]]-and-egg situation here as you can’t really work out their [[mark-to-market]] values for that date at any time ''before'' that date, unless you are able to see into the future or something. Anyway, that’s a conundrum for your [[Trader|trading]] people (and in-house [[Metaphysics|metaphysicians]]) to deal with and it need not trouble we [[Legal Eagles|eagles of the law]]. For our purposes, the trading and risk people need to come up with {{isdaprov|Close-out Amount}}s for all outstanding {{{{{1}}}|Transaction}}s. Once they have done that you are ready for your Section {{{{{1}}}|6(e)}} notice. | There is a bit of a [[chicken licken]]-and-egg situation here as you can’t really work out their [[mark-to-market]] values for that date at any time ''before'' that date, unless you are able to see into the future or something. Anyway, that’s a conundrum for your [[Trader|trading]] people (and in-house [[Metaphysics|metaphysicians]]) to deal with and it need not trouble we [[Legal Eagles|eagles of the law]]. For our purposes, the trading and risk people need to come up with {{isdaprov|Close-out Amount}}s for all outstanding {{{{{1}}}|Transaction}}s. Once they have done that you are ready for your Section {{{{{1}}}|6(e)}} notice. | ||
==={{{{{1}}}|Early Termination Amount}}=== | ===6. Pay your {{{{{1}}}|Early Termination Amount}} on the {{{{{1}}}|Early Termination Date}}=== | ||
Your | Your in-house metaphysicians having calculated your {{isdaprov|Close-out Amount}}s,<ref name="close out amounts"/> you must assemble all the values into an Early Termination Amount.<ref>Or, in the {{1992ma}}’s estimable prose, “the amount, if any, payable in respect of an {{isdaprov|Early Termination Date}} and determined pursuant to this Section”.</ref> This must be paid on that day you selected way back in step 4, when you designated an {{{{{1}}}|Early Termination Date}}. | ||