Template:Isda 6(e)(iii) summ: Difference between revisions
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{{ | Section {{{{{1}}}|6(e)(iii)}} is somewhat gnomic, but is designed to build in some flex to allow for the weird things that happen in the netherworld of corporate insolvency, especially where your {{{{{1}}}|Early Termination Date}} happened, thanks to its [[automatic early termination|automatic]] trigger, ''without anyone knowing about it''. | ||
If an [[AET]] has been “”Therefore if the parties (especially the {{{{{1}}}|Non-Defaulting Party}}) blithely carried on with their business of making payments and deliveries unaware that the technical insolvency of one of them meant all payment and delivery obligations were suspended — Section {{{{{1}}}|2(a)(iii)}} and all that — then you will find you have the opposite of Unpaid Amounts: you will have ''overpaid'' Amounts. | |||
Revision as of 11:31, 5 January 2023
Section {{{{{1}}}|6(e)(iii)}} is somewhat gnomic, but is designed to build in some flex to allow for the weird things that happen in the netherworld of corporate insolvency, especially where your {{{{{1}}}|Early Termination Date}} happened, thanks to its automatic trigger, without anyone knowing about it.
If an AET has been “”Therefore if the parties (especially the {{{{{1}}}|Non-Defaulting Party}}) blithely carried on with their business of making payments and deliveries unaware that the technical insolvency of one of them meant all payment and delivery obligations were suspended — Section {{{{{1}}}|2(a)(iii)}} and all that — then you will find you have the opposite of Unpaid Amounts: you will have overpaid Amounts.