Template:Nutshell 2002 ISDA 6(f): Difference between revisions

Template:Nutshell 2002 ISDA 6(f) (view source)

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-{{isdaprov|6(f)}} An {{isdaprov|Innocent Party}} may set-off any part of an {{isdaprov|Early Termination Amount}} payable by a {{isdaprov|Payer}} to the {{isdaprov|Payee}}  against any  {{isdaprov|Other Amounts}} payable by the {{isdaprov|Payee}} to the {{isdaprov|Payer}} under any other agreement. <br>
+{{isdaprov|6(f)}} An {{isdaprov|Innocent Party}} may, by notice, [[set-off]] any part of an {{isdaprov|Early Termination Amount}} payable by one party against any {{isdaprov|Other Amounts}} payable by the other under any other agreement, converting currencies if necessary and estimating unascertained obligations in [[good faith]], but it must account for any difference between its estimate and the amount when it is finally ascertained.<br>
-To do so it may:
-*convert one such amount into the other’s currency at a commercially reasonable rate.
-*make a good faith estimate of any unascertained obligation, provided it accounts for any difference when such an amount is finally ascertained. <br>
-The {{isdaprov|Innocent Party}} must give notice of any set-off. This clause does not create any security interest.<br>