Template:ISDA English Law Credit Support Annex 1995 6: Difference between revisions

Paragraph .{{csaprov|6}}. '''{{csaprov|Default}}'''.<br>

If an {{isdaprov|Early Termination Date}} is designated or {{f|deemed}} to occur as a result of an {{isdaprov|Event of Default}} in relation to a party, an amount equal to the {{csaprov|Value}} of the {{csaprov|Credit Support Balance}}, determined as though the {{isdaprov|Early Termination Date}} were a {{csaprov|Valuation Date}}, will be {{f|deemed}} to be an {{isdaprov|Unpaid Amount}} due to the {{csaprov|Transferor}} (which {{f|may or may not be}} the {{isdaprov|Defaulting Party}}) for purposes of Section {{isdaprov|6(e)}}. {{f|For the avoidance of doubt}}, if {{isdaprov|Market Quotation}} is the applicable payment measure for purposes of Section {{isdaprov|6(e)}}, then the {{isdaprov|Market Quotation}} determined under Section {{isdaprov|6(e)}} in relation to the {{isdaprov|Transaction}} constituted by this {{csaprov|Annex}} will be {{f|deemed}} to be zero, and, if {{isdaprov|Loss}} is the {{f|applicable}} payment measure for purposes of Section {{isdaprov|6(e)}}, then the {{isdaprov|Loss}} determined under Section {{isdaprov|6(e)}} in relation to the {{isdaprov|Transaction}} will be limited to the {{isdaprov|Unpaid Amount}} representing the {{csaprov|Value}} of the {{csaprov|Credit Support Balance}}. <br />