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Amwelladmin (talk | contribs) (Searching out embedded templates in 2002 ISDA summ) Tag: Reverted |
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{{isda 2 comp|isdaprov}} | {{isda 2 comp|isdaprov}} | ||
===Section 2(a)=== | ===Section 2(a)=== | ||
{{ | Section {{isdaprov|2(a)}} is identical in the {{1992ma}} and the {{2002ma}}. | ||
===Section 2(b)=== | ===Section 2(b)=== | ||
{{ | But for the new definition of {{isdaprov|Scheduled Settlement Date}} in the {{2002ma}}, the {{1992ma}} text is formally the same. | ||
===Section 2(c) === | ===Section 2(c) === | ||
{{ | Section {{isdaprov|2(c)}} is about “settlement” or “payment” {{tag|netting}} — that is, the operational settlement of offsetting payments due on any day under the normal operation of the Agreement — and not the more drastic [[close-out netting]], which is the {{isdaprov|Early Termination}} of all {{isdaprov|Transactions}} under Section {{isdaprov|6}}. | ||
If you want to know more about '''[[close-out netting]]''', see {{isdaprov|Single Agreement}} and {{isdaprov|Early Termination Amount}}. | |||
===Section 2(d)=== | ===Section 2(d)=== | ||
{{ | Observant and ''less'' obedient scholars will remark what a pig’s ear the ISDA drafting committee made of a simple concept and, when given a once-in-a-decade opportunity to improve it in 2002, the combined intellectual might of {{tag|ISDA}}, its members, friends, relations and their divers [[mediocre lawyer|counsel]], retinue and entourage, couldn’t. | ||
Or didn’t. | |||
Both are excruciating in the conveyance of a fairly simple idea, which, in a {{nutshell}} is set out at the top of the panel on the right. |