Template:ISDA English Law Credit Support Annex 2016 4(a): Difference between revisions

{{csaprov|4(a)}} '''{{csaprov|Disputed Calculations or Valuations}}'''. If a party (a “'''{{csaprov|Disputing Party}}'''”) reasonably disputes (I) the {{csaprov|Valuation Agent}}’s calculation of a {{csaprov|Delivery Amount (VM)}} or a {{csaprov|Return Amount (VM)}} or (II) the {{csaprov|Value}} of any transfer of {{csaprov|Eligible Credit Support (VM)}} or {{csaprov|Equivalent Credit Support (VM)}}, then:  

:(1) the {{csaprov|Disputing Party}} will notify the other party and the {{csaprov|Valuation Agent}} (if the {{csaprov|Valuation Agent}} is not the other party) not later than the close of business on the date that the transfer is due in respect of such {{csaprov|Delivery Amount (VM)}} or {{csaprov|Return Amount (VM)}} in the case of (I) above, or, in the case of (II) above, the {{csaprov|Local Business Day}} following the date of transfer;  

:(2) in the case of (I) above, the appropriate party will transfer the undisputed amount to the other party not later than the close of business on the date that the transfer is due in respect of such {{csaprov|Delivery Amount (VM)}} or {{csaprov|Return Amount (VM)}};  

Following a recalculation pursuant to this Paragraph, the {{csaprov|Valuation Agent}} will notify each party (or the other party, if the {{csaprov|Valuation Agent}} is a party) as soon as possible but in any event not later than the {{csaprov|Notification Time}} on the {{csaprov|Local Business Day}} following the {{csaprov|Resolution Time}}. The appropriate party will, upon demand following such notice given by the {{csaprov|Valuation Agent}} or a resolution pursuant to (3) above and subject to Paragraph {{csaprov|3(a)}}, make the appropriate transfer. <br>