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Template:M detail 2002 ISDA 6(f): Difference between revisions
Template:M detail 2002 ISDA 6(f) (view source)
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So how might we say this, given a fresh piece of paper? | So how might we say this, given a fresh piece of paper? | ||
{{quote|{{isdaprov|6(f)}} Following the designation of an {{isdaprov|Early Termination Date}} for all {{isdaprov|Transaction}}s, an {{isdaprov|Innocent Party}} may, by notice, [[set-off]] any {{isdaprov|Payable}}s it owes against any {{isdaprov|Payable}}s the other {{isdaprov|Party}} owes the {{isdaprov|Innocent Party}}, converting currencies if necessary and estimating unascertained obligations in [[good faith]], but the {{isdaprov|Innocent Party}} must account for any difference between its estimate and the amount when it is finally ascertained. In this clause: <br> | {{quote|{{isdaprov|6(f)}} '''{{isdaprov|Set-off}}''': Following the designation of an {{isdaprov|Early Termination Date}} for all {{isdaprov|Transaction}}s, an {{isdaprov|Innocent Party}} may, by notice, [[set-off]] any {{isdaprov|Payable}}s it owes against any {{isdaprov|Payable}}s the other {{isdaprov|Party}} owes the {{isdaprov|Innocent Party}}, converting currencies if necessary and estimating unascertained obligations in [[good faith]], but the {{isdaprov|Innocent Party}} must account for any difference between its estimate and the amount when it is finally ascertained. In this clause: <br> | ||
'''{{isdaprov|Innocent Party}}''' means a {{isdaprov|Non-defaulting Party}} or a {{isdaprov|Non-affected Party}}, [[as the case may be]] and, when determining any Payables owed by or to such a party, includes its Affiliates”.<br> | '''{{isdaprov|Innocent Party}}''' means a {{isdaprov|Non-defaulting Party}} or a {{isdaprov|Non-affected Party}}, [[as the case may be]] and, when determining any Payables owed by or to such a party, includes its Affiliates”.<br> | ||
“'''{{isdaprov|Payable}}'''” means any amount owed by the party in question, whether or not arising under this Agreement, matured or contingent and irrespective of its currency, place of payment or booking.}} | “'''{{isdaprov|Payable}}'''” means any amount owed by the party in question, whether or not arising under this Agreement, matured or contingent and irrespective of its currency, place of payment or booking.}} | ||