Template:Nutshell 2002 ISDA Local Business Day: Difference between revisions

“'''{{isdaprov|Local Business Day}}'''” means

:(a) when [[2(a)(i) - ISDA Provision|performing ones general obligations]], a {{isdaprov|General Business Day}} where specified in the {{isdaprov|Confirmation}} and where any relevant settlement system is operating; <br>

:(b) to work out when a {{isdaprov|Waiting Period}} expires, a {{isdaprov|General Business Day}} in the place where the {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}} occurs, <br>

:(c) for any other payment, a {{isdaprov|General Business Day}} where the account is located and, the principal financial centre for the currency of that payment (or where the settlement system necessary to make that payment is located), <br>  

:(d) for any communication,  a {{isdaprov|General Business Day}} (or a day that, but for an {{isdaprov|Illegality}} or or {{isdaprov|Force Majeure Event}}, would have been a {{isdaprov|General Business Day}} ) for the recipient and, for a {{isdaprov|Change of Account}}, the place where the new account will be located; and <br>  

:(e) for a {{isdaprov|Default under Specified Transaction}}, a {{isdaprov|General Business Day}} in the relevant locations for performance under the {{isdaprov|Specified Transaction}}. <br>

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