Template:ISDA English Law Credit Support Annex 2016 3(b): Difference between revisions

{{vmcsaprov|3(b)}} '''{{vmcsaprov|Calculations}}'''. All calculations of {{vmcsaprov|Value}} and {{vmcsaprov|Exposure}} for purposes of Paragraph {{vmcsaprov|2}} and Paragraph {{vmcsaprov|4(a)}} will be made by the relevant {{vmcsaprov|Valuation Agent}} as of the relevant {{vmcsaprov|Valuation Time}}, provided that, the {{vmcsaprov|Valuation Agent}} may use, in the case of any calculation of (i) {{vmcsaprov|Value}}, {{vmcsaprov|Values}} most recently reasonably available for [[close of business]] in the relevant market for the relevant {{vmcsaprov|Eligible Credit Support (VM)}} as of the {{vmcsaprov|Valuation Time}} and (ii) {{vmcsaprov|Exposure}}, relevant information or data most recently reasonably available for close of business in the relevant market(s) as of the {{vmcsaprov|Valuation Time}}. The {{vmcsaprov|Valuation Agent}} will notify each party (or the other party, if the {{vmcsaprov|Valuation Agent}} is a party) of its calculations not later than the {{vmcsaprov|Notification Time}} on the {{vmcsaprov|Local Business Day}} following the applicable {{vmcsaprov|Valuation Date}} (or, in the case of Paragraph {{vmcsaprov|4}}(a), following the date of calculation). <br>