Template:ISDA Master Agreement 1992 6(d): Difference between revisions
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{{isdaprov|6(d)}} '''{{isdaprov|Calculations}}'''. <br> | {{isdaprov|6(d)}} '''{{isdaprov|Calculations}}'''. <br> | ||
:(i) '''Statement'''. On or as soon as reasonably practicable following the occurrence of an Early <br>Termination Date, each party will make the calculations on its part, if any, contemplated by Section {{isdaprov|6(e)}} <br>and will provide to the other party a statement (1) showing, in reasonable detail, such calculations <br>(including all relevant quotations and specifying any amount payable under Section {{isdaprov|6(e)}}) and (2) giving <br>details of the relevant account to which any amount payable to it is to be paid. In the absence of written <br>confirmation from the source of a quotation obtained in determining a {{isdaprov|Market Quotation}}, the records of <br>the party obtaining such quotation will be conclusive evidence of the existence and accuracy of such <br>quotation. <br> | :(i) '''Statement'''. On or as soon as reasonably practicable following the occurrence of an Early <br>Termination Date, each party will make the calculations on its part, if any, contemplated by Section {{isdaprov|6(e)}} <br>and will provide to the other party a statement (1) showing, in reasonable detail, such calculations <br>(including all relevant quotations and specifying any amount payable under Section {{isdaprov|6(e)}}) and (2) giving <br>details of the relevant account to which any amount payable to it is to be paid. In the absence of written <br>confirmation from the source of a quotation obtained in determining a {{isdaprov|Market Quotation}}, the records of <br>the party obtaining such quotation will be conclusive evidence of the existence and accuracy of such <br>quotation. <br> | ||
:(ii) '''Payment Date'''. An amount calculated as being due in respect of any {{isdaprov|Early Termination Date}} <br>under Section {{isdaprov|6(e)}} will be payable on the day that notice of the amount payable is effective (in the <br>case of an {{isdaprov|Early Termination Date}} which is designated or occurs as a result of an {{isdaprov|Event of Default}}) <br>and on the day which is two {{isdaprov|Local Business Days}} after the day on which notice of the amount payable <br>is effective (in the case of an {{isdaprov|Early Termination Date}} which is designated as a result of a | :(ii) '''Payment Date'''. An amount calculated as being due in respect of any {{isdaprov|Early Termination Date}} <br>under Section {{isdaprov|6(e)}} will be payable on the day that notice of the amount payable is effective (in the <br>case of an {{isdaprov|Early Termination Date}} which is designated or occurs as a result of an {{isdaprov|Event of Default}}) <br>and on the day which is two {{isdaprov|Local Business Days}} after the day on which notice of the amount payable <br>is effective (in the case of an {{isdaprov|Early Termination Date}} which is designated as a result of a Termination <br>Event). Such amount will be paid together with (to the extent permitted under applicable law) <br>interest thereon (before as well as after judgment) in the {{isdaprov|Termination Currency}}, from (and including) <br>the relevant {{isdaprov|Early Termination Date}} to (but excluding) the date such amount is paid, at the <br>{{isdaprov|Applicable Rate}}. Such interest will be calculated on the basis of daily compounding and the actual <br>number of days elapsed. <br> | ||
Revision as of 10:57, 9 May 2013
- (i) Statement. On or as soon as reasonably practicable following the occurrence of an Early
Termination Date, each party will make the calculations on its part, if any, contemplated by Section 6(e)
and will provide to the other party a statement (1) showing, in reasonable detail, such calculations
(including all relevant quotations and specifying any amount payable under Section 6(e)) and (2) giving
details of the relevant account to which any amount payable to it is to be paid. In the absence of written
confirmation from the source of a quotation obtained in determining a Market Quotation, the records of
the party obtaining such quotation will be conclusive evidence of the existence and accuracy of such
quotation. - (ii) Payment Date. An amount calculated as being due in respect of any Early Termination Date
under Section 6(e) will be payable on the day that notice of the amount payable is effective (in the
case of an Early Termination Date which is designated or occurs as a result of an Event of Default)
and on the day which is two Local Business Days after the day on which notice of the amount payable
is effective (in the case of an Early Termination Date which is designated as a result of a Termination
Event). Such amount will be paid together with (to the extent permitted under applicable law)
interest thereon (before as well as after judgment) in the Termination Currency, from (and including)
the relevant Early Termination Date to (but excluding) the date such amount is paid, at the
Applicable Rate. Such interest will be calculated on the basis of daily compounding and the actual
number of days elapsed.