Template:Nutshell GMRA 4(c)
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4(c) Net Exposure calculation: A party’s Net Exposure to the other party is the excess of:
- (A) the total of its Transaction Exposures plus any Income Payments the other party owes minus the Net Margin provided to it by the other party, over
- (B) the total of the other party's Transaction Exposures plus any Income Payments it owes the other party minus any Net Margin it provided to the other party;
converting amounts into the Base Currency at the prevailing Spot Rate where necessary.