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

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

Revision as of 09:40, 6 January 2024

1,609 bytes removed ,  6 January
Replaced content with "{{isda 6(f) summ|isdaprov}}"
(Created page with "===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 :Categor...")
 
(Replaced content with "{{isda 6(f) summ|isdaprov}}")
Tag: Replaced
 
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===A bit of a bish in the {{2002ma}}===
{{isda 6(f) summ|isdaprov}}
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
*{{isdaprov|Payee}} owes {{isdaprov|Payer}} {{isdaprov|Other Amounts}} of 50
----
*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}}?
 
*{{isdaprov|Payer}} owes Payee an {{ETA}} of 10
*'''{{isdaprov|Payer}} owes Payee {{isdaprov|Other Amounts}} of 40'''
*{{isdaprov|Payee}} owes {{isdaprov|Payer}} {{isdaprov|Other Amounts}} of 50
----
*Net: {{isdaprov|Payee}} owes {{isdaprov|Payer}} 40.
*'''''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'''”), ...
 
==={{1992ma}}===
{{1992 isda set-off}}
{{sa}}
*[[Set-off]] generally.
{{ref}}
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