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Amwelladmin (talk | contribs) (Created page with "“'''{{nyvmcsaprov|Exposure}}'''” means, unless otherwise specified in Paragraph {{nyvmcsaprov|13}}, for any {{nyvmcsaprov|Valuation Date}} or other date for which {{nyvmcs...") |
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“'''{{nyvmcsaprov|Exposure}}'''” means, unless otherwise specified in Paragraph {{nyvmcsaprov|13}}, for any {{nyvmcsaprov|Valuation Date}} or other date for which {{nyvmcsaprov|Exposure}} is calculated and subject to Paragraph 5 in the case of a dispute:<br> | “'''{{nyvmcsaprov|Exposure}}'''” means, unless otherwise specified in Paragraph {{nyvmcsaprov|13}}, for any {{nyvmcsaprov|Valuation Date}} or other date for which {{nyvmcsaprov|Exposure}} is calculated and subject to Paragraph {{nyvmcsaprov|5}} in the case of a dispute:<br> | ||
:{{nyvmcsaprov|(i)}} if this Agreement is a | :{{nyvmcsaprov|(i)}} if this Agreement is a {{1992ma}}, the amount, if any, that would be payable to a party that is the {{nyvmcsaprov|Secured Party}} by the other party (expressed as a positive number) or by a party that is the {{nyvmcsaprov|Secured Party}} to the other party (expressed as a negative number) pursuant to Section {{isdaprov|6(e)(ii)(2)(A)}} of this Agreement as if all {{nyvmcsaprov|Covered Transactions}} were being terminated as of the relevant {{nyvmcsaprov|Valuation Time}} on the basis that the {{nyvmcsaprov|Base Currency}} is the {{isdaprov|Termination Currency}}; provided that {{isdaprov|Market Quotation}} will be determined by the {{nyvmcsaprov|Valuation Agent}} on behalf of that party using its estimates at [[mid-market]] of the amounts that would be paid for {{isdaprov|Replacement Transaction}}s (as that term is defined in the definition of “{{isdaprov|Market Quotation}}”); and<br> | ||
:{{nyvmcsaprov|(ii)}} if this Agreement is an | :{{nyvmcsaprov|(ii)}} if this Agreement is an {{2002ma}} or a {{1992ma}} in which the definition of {{isdaprov|Loss}} [[and/or]] {{isdaprov|Market Quotation}} has been amended (including where such amendment has occurred pursuant to the terms of a separate agreement or protocol) to reflect the definition of {{isdaprov|Close-out Amount}} from the pre-printed form of the {{2002ma}} as published by ISDA, the amount, if any, that would be payable to a party that is the {{nyvmcsaprov|Secured Party}} by the other party (expressed as a positive number) or by a party that is the {{nyvmcsaprov|Secured Party}} to the other party (expressed as a negative number) pursuant to Section {{isdaprov|6(e)(ii)(1)}} (but without reference to clause (3) of Section {{isdaprov|6(e)(ii)}} of this Agreement as if all {{nyvmcsaprov|Covered Transactions}} were being terminated as of the relevant {{nyvmcsaprov|Valuation Time}} on the basis that the {{nyvmcsaprov|Base Currency}} is the {{isdaprov|Termination Currency}}; provided that the {{isdaprov|Close-out Amount}} will be determined by the {{nyvmcsaprov|Valuation Agent}} on behalf of that party using its estimates at mid-market of the amounts that would be paid for {{isdaprov|Transaction}}s providing the economic equivalent of | ||
::(X) the material terms of the {{nyvmcsaprov|Covered Transactions}}, including the payments and deliveries by the parties under Section 2(a)(i) in respect of the {{nyvmcsaprov|Covered Transactions}} that would, but for the occurrence of the relevant {{isdaprov|Early Termination Date}}, have been required after that date (assuming satisfaction of the conditions precedent in Section 2(a)(iii)), and | |||
::(Y) the option rights of the parties in respect of the {{nyvmcsaprov|Covered Transactions}}.<br> |