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Template:Nutshell 2002 ISDA 2(c): Difference between revisions
Template:Nutshell 2002 ISDA 2(c) (view source)
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{{ | {{ISDA clausehead|2(c)|}}. If on any date amounts would otherwise be payable by each party to the other | ||
:(i) in the same currency; and | :(i) in the same currency; and | ||
:(ii) under the same Transaction, | :(ii) under the same Transaction, | ||
then those obligations will be satisfied and replaced by an obligation on the party owing the larger amount to pay the difference. The parties may net payments across multiple specified {{isdaprov|Transactions}} by applying “{{isdaprov|Multiple Transaction Payment Netting}}” (and clause {{isdaprov|2(c)(ii)}} will therefore not apply). | then those obligations will be satisfied and replaced by an obligation on the party owing the larger amount to pay the difference. The parties may net payments across multiple specified {{isdaprov|Transactions}} by applying “{{isdaprov|Multiple Transaction Payment Netting}}” (and clause {{isdaprov|2(c)(ii)}} will therefore not apply). | ||
{{isdaprov|Multiple Transaction Payment Netting}} arrangements may apply to different groups of {{isdaprov|Transaction}}s, will apply separately to each pairing of specified {{isdaprov|Offices}} and will take effect as agreed between the parties.<br> | {{isdaprov|Multiple Transaction Payment Netting}} arrangements may apply to different groups of {{isdaprov|Transaction}}s, will apply separately to each pairing of specified {{isdaprov|Offices}} and will take effect as agreed between the parties.<br> | ||