Template:M summ 2002 ISDA 6(f): Difference between revisions

Template:M summ 2002 ISDA 6(f) (view source)

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 {{set off capsule}}
-===A bit of a bish in the {{2002ma}}===
+====A bit of a bish in the {{2002ma}}====
 Set-off in the {{2002ma}} borrows from the text used to build it into the {{1992ma}} (see below) but still contains a rather [[:Category:Schoolboy error|elementary fluff]]. It imagines a world where the {{isdaprov|Early Termination Amount}} is payable one way, while ''all'' {{isdaprov|Other Amounts}} are only payable the other. Life, [[as any fule kno]], is not always quite that convenient.
 For example:
-*{{isdaprov|Payer}} owes Payee an {{ETA}} of 10
+{{subtableflex|47|
-*{{isdaprov|Payee}} owes {{isdaprov|Payer}} {{isdaprov|Other Amounts}} of 50
+{{isdaprov|Payer}} owes Payee an {{ETA}} of 10<br>
+{{isdaprov|Payee}} owes {{isdaprov|Payer}} {{isdaprov|Other Amounts}} of 50<br>
 ----
-*Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40.
+Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40.
+}}
 But what if there are {{isdaprov|Other Amounts}} payable ''the same way'' as the {{isdaprov|Early Termination Amount}}?
+{{subtableflex|47|
-*{{isdaprov|Payer}} owes Payee an {{ETA}} of 10
+{{isdaprov|Payer}} owes Payee an {{ETA}} of 10 <br>
-*'''{{isdaprov|Payer}} owes Payee {{isdaprov|Other Amounts}} of 40'''
+{{isdaprov|Payer}} owes Payee {{isdaprov|Other Amounts}} of 40<br>
-*{{isdaprov|Payee}} owes {{isdaprov|Payer}} {{isdaprov|Other Amounts}} of 50
+{{isdaprov|Payee}} owes {{isdaprov|Payer}} {{isdaprov|Other Amounts}} of 50<br>
 ----
-*Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40.
+Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40.<br>
-*'''''Whoops: {{isdaprov|Payee}} is still owed 40 by {{isdaprov|Payer}} so is an unsecured creditor '''''
+''Whoops: {{isdaprov|Payee}} is still owed 40 by {{isdaprov|Payer}} so is an unsecured creditor '''}}
 Not ideal. But fixable if you’re prepared to add some dramatically anal language:
-:{{isdaprov|6(f)}} {{isdaprov|Set-Off}}. Any {{isdaprov|Early Termination Amount}} ''(or any other amounts, whether or not arising under this {{isdaprov|Agreement}}, matured, contingent and irrespective of the currency, place of payment of booking of the obligation)” payable to one party (the “'''Payee'''”) by the other party (the “'''Payer'''”), ...
+{{quote|{{isdaprov|6(f)}} {{isdaprov|Set-Off}}. Any {{isdaprov|Early Termination Amount}} ''(or any other amounts, whether or not arising under this {{isdaprov|Agreement}}, matured, contingent and irrespective of the currency, place of payment of booking of the obligation)” payable to one party (the “'''Payee'''”) by the other party (the “'''Payer'''”), ...}}