Template:ISDA Master Agreement 1992 Termination Currency Equivalent: Difference between revisions

“'''{{isdaprov|Termination Currency Equivalent}}'''” means, in respect of any amount denominated in the Termination Currency, such {{isdaprov|Termination Currency}} amount and, in respect of any amount denominated in a currency other than the {{isdaprov|Termination Currency}} (the “Other Currency”), the amount in the {{isdaprov|Termination Currency}} determined by the party making the relevant determination as being required to purchase such amount of such Other Currency as at the relevant {{isdaprov|Early Termination Date}}, or, if the relevant {{isdaprov|Market Quotation}} or {{isdaprov|Loss}} (as the case may be), is determined as of a later date, that later date, with the {{isdaprov|Termination Currency}} at the rate equal to the spot exchange rate of the foreign exchange agent (selected as provided below) for the purchase of such Other Currency with the {{isdaprov|Termination Currency}} at or about 11:00 a.m. (in the city in which such foreign exchange agent is located) on such date as would be customary for the determination of such a rate for the purchase of such Other Currency for value on the relevant {{isdaprov|Early Termination Date}} or that later date. The foreign exchange agent will, if only one party is obliged to make a determination under Section {{isdaprov|6(e)}}, be selected in good faith by that party and otherwise will be agreed by the parties. <br>