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Template:Nutshell 2002 ISDA 6(d): Difference between revisions
Template:Nutshell 2002 ISDA 6(d) (view source)
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{{isdaprov|6(d)}} '''{{isdaprov|Calculations; Payment Date}}'''. | {{isdaprov|6(d)}} '''{{isdaprov|Calculations; Payment Date}}'''. | ||
:(i) '''Statement'''. As soon as practicable following an {{isdaprov|Early Termination Date}}, each party will calculate its Section {{isdaprov|6(e)}} and give the other party a statement: | :(i) '''Statement'''. As soon as [[practicable]] following an {{isdaprov|Early Termination Date}}, each party will calculate its Section {{isdaprov|6(e)}} amount and give the other party a statement: | ||
::(1) showing reasonable detail of its calculations; | ::(1) showing reasonable detail of its calculations; | ||
::(2) specifying any {{isdaprov|Early Termination Amount}} payable; and | ::(2) specifying any {{isdaprov|Early Termination Amount}} payable; and | ||
::(3) giving its bank details for payment of the {{isdaprov|Early Termination Amount}}. | ::(3) giving its bank details for payment of the {{isdaprov|Early Termination Amount}}. | ||
:Its records of any quotation or market data it uses will be conclusive of their accuracy. | ::Its records of any quotation or market data it uses will be conclusive of their accuracy. | ||
:(ii) '''Payment Date'''. An {{isdaprov|Early Termination Amount}} due in respect of any {{isdaprov|Early Termination Date}} will, together with any | :(ii) '''Payment Date'''. An {{isdaprov|Early Termination Amount}} due in respect of any {{isdaprov|Early Termination Date}} will, together with any applicable [[9(h)(ii)(2) - ISDA Provision|interest]], be payable <br> | ||
:(1) | ::(1) on the day its Section {{isdaprov|6(d)}} statement is effective (if the {{isdaprov|Early Termination Date}} follows an {{isdaprov|Event of Default}}) and | ||
:(2) two {{isdaprov|Local Business Days}} after its | ::(2) two {{isdaprov|Local Business Days}} after the day its Section {{isdaprov|6(d)}} statement is effective (or, where there were two {{isdaprov|Affected Parties}}, after the second statement is effective) (where the {{isdaprov|Early Termination Date}} follows a {{isdaprov|Termination Event}}.<br> | ||