Template:ISDA Master Agreement 1992 6(e)(ii): Difference between revisions

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:(1) '''One {{isdaprov|Affected Party}}'''. If there is one {{isdaprov|Affected Party}}, the amount payable will be determined <br>in accordance with Section {{isdaprov|6(e)(i)(3)}}, if {{isdaprov|Market Quotation}} applies, or Section {{isdaprov|6(e)(i)(4)}}, if <br>{{isdaprov|Loss}} <br>applies, except that, in either case, references to the {{isdaprov|Defaulting Party}} and to the {{isdaprov|Non-defaulting Party}} <br>will be deemed to be references to the {{isdaprov|Affected Party}} and the party which is not the <br>{{isdaprov|Affected Party}}, respectively, and, if {{isdaprov|Loss}} applies and fewer than all the {{isdaprov|Transactions}} are being <br>terminated, {{isdaprov|Loss}} shall be calculated in respect of all {{isdaprov|Terminated Transactions}}. <br>  
:(1) '''One {{isdaprov|Affected Party}}'''. If there is one {{isdaprov|Affected Party}}, the amount payable will be determined <br>in accordance with Section {{isdaprov|6(e)(i)(3)}}, if {{isdaprov|Market Quotation}} applies, or Section {{isdaprov|6(e)(i)(4)}}, if <br>{{isdaprov|Loss}} <br>applies, except that, in either case, references to the {{isdaprov|Defaulting Party}} and to the {{isdaprov|Non-defaulting Party}} <br>will be deemed to be references to the {{isdaprov|Affected Party}} and the party which is not the <br>{{isdaprov|Affected Party}}, respectively, and, if {{isdaprov|Loss}} applies and fewer than all the {{isdaprov|Transactions}} are being <br>terminated, {{isdaprov|Loss}} shall be calculated in respect of all {{isdaprov|Terminated Transactions}}. <br>  
:(2) '''Two {{isdaprov|Affected Parties}}'''. If there are two {{isdaprov|Affected Parties}}: — <br>
:(2) '''Two {{isdaprov|Affected Parties}}'''. If there are two {{isdaprov|Affected Parties}}: — <br>
::(A) if {{isdaprov|Market Quotation}} applies, each party will determine a {{isdaprov|Settlement Amount}} in <br>respect of the {{isdaprov|Terminated Transactions}}, and an amount will be payable equal to (I) the <br>sum of (a) one-half of the difference between the {{isdaprov|Settlement Amount}} of the party with <br>the higher {{isdaprov|Settlement Amount}} ("'''X'''") and the Settlement Amount of the party with the <br>lower {{isdaprov|Settlement Amount}} ("'''Y'''") and (b) the {{isdaprov|Termination Currency Equivalent}} of the <br>{{isdaprov|Unpaid Amounts}} owing to X less (II) the {{isdaprov|Termination Currency Equivalent}} of the Unpaid <br>Amounts owing to Y; and <br>
::(A) if {{isdaprov|Market Quotation}} applies, each party will determine a {{isdaprov|Settlement Amount}} in <br>respect of the {{isdaprov|Terminated Transactions}}, and an amount will be payable equal to (I) the <br>sum of (a) one-half of the difference between the {{isdaprov|Settlement Amount}} of the party with <br>the higher {{isdaprov|Settlement Amount}} ('''X'''") and the Settlement Amount of the party with the <br>lower {{isdaprov|Settlement Amount}} ('''Y'''") and (b) the {{isdaprov|Termination Currency Equivalent}} of the <br>{{isdaprov|Unpaid Amounts}} owing to X less (II) the {{isdaprov|Termination Currency Equivalent}} of the Unpaid <br>Amounts owing to Y; and <br>
::(B) if {{isdaprov|Loss}} applies, each party will determine its Loss in respect of this {{isdaprov|Agreement}} (or, <br>if fewer than all the {{isdaprov|Transactions}} are being terminated, in respect of all Terminated <br>Transactions) and an amount will be payable equal to one-half of the difference between <br>the {{isdaprov|Loss}} of the party with the higher Loss (“'''X'''”) and the Loss of the party with the lower <br>{{isdaprov|Loss}} (“'''Y'''”). <br>
::(B) if {{isdaprov|Loss}} applies, each party will determine its Loss in respect of this {{isdaprov|Agreement}} (or, <br>if fewer than all the {{isdaprov|Transactions}} are being terminated, in respect of all Terminated <br>Transactions) and an amount will be payable equal to one-half of the difference between <br>the {{isdaprov|Loss}} of the party with the higher Loss (“'''X'''”) and the Loss of the party with the lower <br>{{isdaprov|Loss}} (“'''Y'''”). <br>


:If the amount payable is a positive number, Y will pay it to X; if it is a negative number, X <br>will pay the absolute value of that amount to Y. <br>
:If the amount payable is a positive number, Y will pay it to X; if it is a negative number, X <br>will pay the absolute value of that amount to Y. <br>

Revision as of 10:22, 19 December 2017

6(e)(ii) Termination Events. If the Early Termination Date results from a Termination Event: —

(1) One Affected Party. If there is one Affected Party, the amount payable will be determined
in accordance with Section 6(e)(i)(3), if Market Quotation applies, or Section 6(e)(i)(4), if
Loss
applies, except that, in either case, references to the Defaulting Party and to the Non-defaulting Party
will be deemed to be references to the Affected Party and the party which is not the
Affected Party, respectively, and, if Loss applies and fewer than all the Transactions are being
terminated, Loss shall be calculated in respect of all Terminated Transactions.
(2) Two Affected Parties. If there are two Affected Parties: —
(A) if Market Quotation applies, each party will determine a Settlement Amount in
respect of the Terminated Transactions, and an amount will be payable equal to (I) the
sum of (a) one-half of the difference between the Settlement Amount of the party with
the higher Settlement Amount (“X") and the Settlement Amount of the party with the
lower Settlement Amount (“Y") and (b) the Termination Currency Equivalent of the
Unpaid Amounts owing to X less (II) the Termination Currency Equivalent of the Unpaid
Amounts owing to Y; and
(B) if Loss applies, each party will determine its Loss in respect of this Agreement (or,
if fewer than all the Transactions are being terminated, in respect of all Terminated
Transactions) and an amount will be payable equal to one-half of the difference between
the Loss of the party with the higher Loss (“X”) and the Loss of the party with the lower
Loss (“Y”).
If the amount payable is a positive number, Y will pay it to X; if it is a negative number, X
will pay the absolute value of that amount to Y.