Termination Currency Equivalent - ISDA Provision: Difference between revisions

A fabulous example of the English language getting the better of a committee of seasoned professional users of that language, ISDA’s remarkable “{{isdaprov|Termination Currency Equivalent}}” definition erodes the fabric into which the basic assumptions of people who share a common language are woven.

They have managed to convolute to the point of incomprehensibility an intellectual concept that is well enough described by the three words of its name. Who would labour under a doubt, and how serious would such a doubt be, about the expression, “one party must pay the other the amount in its ''termination currency equivalent''”? Failing that, “one party must pay the other ''an equivalent amount in the termination currency''”?

The idea of an amount in one currency of an amount expressed in another really ought not be that hard to master, but to see how hard someone with [[profound ontological uncertainty]] can make it, have a gander at this ==>