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| ==[[1992 ISDA Master]] Agreement==
| | #redirect[[Payments on Early Termination - ISDA Provision]] |
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| (ii) '''Termination Events'''. If the {{isdaprov|Early Termination Date}} results from a {{isdaprov|Termination Event}}: —
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|
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| (1) One {{isdaprov|Affected Party}}. If there is one Affected Party, the amount payable will be determined
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| in accordance with Section 6(e)(i)(3), if {{isdaprov|Market Quotation}} applies, or Section 6(e)(i)(4), if {{isdaprov|Loss}}
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| applies, except that, in either case, references to the {{isdaprov|Defaulting Party}} and to the {{isdaprov|Non-defaulting Party}}
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| will be deemed to be references to the {{isdaprov|Affected Party}} and the party which is not the
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| Affected Party, respectively, and, if Loss applies and fewer than all the {{isdaprov|Transactions}} are being
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| terminated, Loss shall be calculated in respect of all {{isdaprov|Terminated Transactions}}.
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| (2) Two Affected Parties. If there are two Affected Parties: —
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|
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| (A) if Market Quotation applies, each party will determine a {{isdaprov|Settlement Amount}} in
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| respect of the Terminated Transactions, and an amount will be payable equal to (I) the
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| sum of (a) one-half of the difference between the Settlement Amount of the party with
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| the higher Settlement Amount ("X") and the Settlement Amount of the party with the
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| lower Settlement Amount ("Y") and (b) the {{isdaprov|Termination Currency Equivalent}} of the
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| {{isdaprov|Unpaid Amounts}} owing to X less (II) the Termination Currency Equivalent of the Unpaid
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| Amounts owing to Y; and
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|
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| (B) if Loss applies, each party will determine its Loss in respect of this Agreement (or,
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| if fewer than all the Transactions are being terminated, in respect of all Terminated
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| Transactions) and an amount will be payable equal to one-half of the difference between
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| the Loss of the party with the higher Loss (“X”) and the Loss of the party with the lower
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| Loss (“Y”).
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| If the amount payable is a positive number, Y will pay it to X; if it is a negative number, X
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| will pay the absolute value of that amount to Y.
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| {{isdaanatomy}}
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| *{{isdaprov|Events of Default (Early Termination Payments)}} (Section 6(e)(i))
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