Disputed Calculations or Valuations. If a party (a “Disputing Party”) reasonably disputes (I) the Valuation Agent’s calculation of a Delivery Amount or a Return Amount or (II) the Value of any transfer of Eligible Credit Support or Equivalent Credit Support, then:
(1) the Disputing Party will notify the other party and the Valuation Agent (if the Valuation Agent is not the other party) not later than the close of business on the Local Business Day following, in the case of (I) above, the date that the demand is received under Paragraph 2 or, in the case of (II) above, the date of transfer;
(2) in the case of (I) above, the appropriate party will transfer the undisputed amount to the other party not later than the close of business on the Settlement Day following the date that the demand is received under Paragraph 2;
(3) the parties will consult with each other in an attempt to resolve the dispute; and
(4) if they fail to resolve the dispute by the Resolution Time then:
(i) in the case of a dispute involving a Delivery Amount or Return Amount, unless otherwise specified in Paragraph 11(c), the Valuation Agent will recalculate the Exposure and the Value as of the Recalculation Date by:
(A) utilising any calculations of that part of the Exposure attributable to the Transactions that the parties have agreed are not in dispute;
(B) calculating that part of the Exposure attributable to the Transactions in dispute by seeking four actual quotations at mid-market from Reference Market-makers for purposes of calculating Market Quotation, and taking the arithmetic average of those obtained; provided that if four quotations are not available for a particular Transaction, then fewer than four quotations may be used for that Transaction, and if no quotations are available for a particular Transaction, then the Valuation Agent’s original calculations will be used for the Transaction; and
(C) utilising the procedures specified in Paragraph 11(e)(ii) for calculating the Value, if disputed, of the outstanding Credit Support Balance;
(ii) in the case of a dispute involving the Value of any transfer of Eligible Credit Support or Equivalent Credit Support, the Valuation Agent will recalculate the Value as of the date of transfer pursuant to Paragraph 11(e)(ii). Following a recalculation pursuant to this Paragraph, the Valuation Agent will notify each party (or the other party, if the Valuation Agent is a party) as soon as possible but in any event not later than the Notification Time on the Local Business Day fo...
Disputed Calculations or Valuations. If a party (a "Disputing Party") reasonably disputes (I) the Valuation Agent's calculation of a Delivery Amount or a Return Amount or (II) the Value of any transfer of Eligible Credit Support or Equivalent Credit Support, then:
(1) the Disputing Party will notify the other party and the Valuation Agent (if the Valuation Agent is not the other party) not later than the close of business on the Local Business Day following, in the case of (I) above, the date that the demand is received under Paragraph 2 or, in the case of (II) above, the date of transfer;
(2) in the case of (I) above, the appropriate party will transfer the undisputed amount to the other party not later than the close of business on the Settlement Day following the date that the demand is received under Paragraph 2;
(3) the parties will consult with each other in an attempt to resolve the dispute; and
(4) if they fail to resolve the dispute by the Resolution Time, then:
Disputed Calculations or Valuations. Upon receipt of the quarterly calculation from the Debtor, the Secured Party shall have the right to reasonably object to such calculation and to offer a reasonable proposal for the amount of the reserves described in Section 3.02 hereof. If the parties in good faith are not able to resolve the disagreement within two weeks of the Secured Party's indication of disagreement, the parties shall mutually agree upon an independent actuarial firm to determine an appropriate level of aggregate reserves as described in Section 3.02 hereof with respect to the Reinsurance Contracts, such level to be no more than the amount proposed by the Secured Party and no less than the amount reported by the Debtor, and both parties agree to be bound by such determination. In such case the Debtor shall deposit sufficient Qualifying Assets with a fair market value equal to Excess Reserves (if any) within 3 Local Business Days after receipt of the actuary report. The fees and expenses of the actuarial firm shall be shared equally by the Debtor and the. Secured Party.
Disputed Calculations or Valuations. If a party (a "Disputing Party") reasonably disputes (I) the Valuation Agent's calculation of a Delivery Amount or a Return Amount or (II) the Value of any transfer of Eligible Credit Support or Equivalent Credit Support, then:
Disputed Calculations or Valuations. If a party (a “Disputing Party”) reasonably disputes (I) the Valuation Agent’s calculation of a Delivery Amount or a Return Amount or (II) the Value of any transfer of Eligible Credit Support or Equivalent Credit Support, then:
(1) the Disputing Party will notify the other party and the Valuation Agent (if the Valuation Agent is not the other party) not later than the close of business on the Local Business Day following, in the case of (I) above, the date that the demand is received under Paragraph 2 or, in the case of (II) above, the date of transfer; The purpose of this Share Swap and Share Basket Swap Master Confirmation Agreement (this “Master Confirmation Agreement”) is entered between Doo Prime (“Party A” or “DP”) and Client (“Party B” or “Counterparty”) to confirm certain general terms and conditions of the Share Swap and/or Share Basket Swap Transactions (each, a “Transaction”) to be entered into between us from time to time and to facilitate the process of entering into and confirming such Transactions. The parties intend that each Transaction shall be a separate Transaction for the purposes of the Master Agreement referred to below. The confirmation applicable to each Transaction, which shall constitute a “Confirmation” for purposes of the Master Agreement, shall consist of this Master Confirmation Agreement as supplemented by the trade details applicable to such Transaction as set forth in a Transaction Supplement which may be in the form of Annex 2 (Transaction Supplement for Share Swaps) or Annex 3 (Transaction Supplement for Share Basket Swaps) attached hereto or in a different form to which the parties agree, or any amendment to any of the foregoing (each, a “Transaction Supplement”). All provisions contained in this Master Confirmation Agreement govern each Confirmation except as expressly modified in a Transaction Supplement. Notwithstanding the foregoing, the parties acknowledge and agree that the execution of this Master Confirmation Agreement does not require them to document Transactions in accordance with this Master Confirmation Agreement. This Master Confirmation Agreement, together with any Transaction Supplement, supplements, forms a part of, and is subject to, an ISDA 2002 Master Agreement (the “Master Agreement”) as amended and supplemented from time to time, between DP and Counterparty and the ISDA 1995 Credit Support Annex (English law) between DP and Counterparty (together with the Master Agreement, the “Agreement”). All pro...
Disputed Calculations or Valuations. If a party (a "Disputing Party") reasonably disputes the Value of any transfer of Eligible Credit Support or Collateral, then:
Disputed Calculations or Valuations. The following provision replaces Paragraph 4(a)(4)(i)(B):
