Negative Interest. Reference is made to the ISDA 2014 Collateral Agreement Negative Interest Protocol as published by the International Swap Dealers Association, Inc. which is hereby incorporated by reference with effect from the Effective Date of this Credit Support Annex (the “Implementation Date” as defined therein) under which this Credit Support Annex shall constitute a Protocol Covered Collateral Agreement. Clause10 Material Reason
Negative Interest. If the Transferee is required to pay any negative interest in relation to any portion of the Credit Support Balance comprised of cash to the provider of any account in which such cash is or is to be held, the Transferor shall deliver an amount equal to the absolute value of such negative interest to the Transferee on the first Local Business Day following the end of each calendar month in which such interest is payable, or if that date is not a Valuation Date, the next following Valuation Date, provided that the Transferee shall give notice to the Transferor of the amount so payable not later than the first Local Business Day prior to the end of each calendar month in which such interest is payable.
Negative Interest. If the Reference Interest Rate used to ascertain the Interest Amount for Cash collateral as set out in Clause 9(1) is a negative number, the related absolute value negative Interest Amount as calculated by the Valuation Agent will be used to determine the Interest Amount. Clause10 Material Reason
Negative Interest. 9.8 The interest rate on your Account can be greater than 0% per annum, less than 0% per annum or 0% per annum. Where the interest rate applied to your Account is less than 0% per annum this is called negative interest and this means that you must pay us any negative interest amount that we calculate is due to us on your Account.
Negative Interest. The Account is non-interest bearing, provided that if in respect of any day, the interest rate applicable to a Currency (such Currency, a “Negative Rate Currency”) of the Account in respect of such day (as determined by GTJAF in its sole and absolute discretion) is a negative figure, the Client shall pay the absolute value of the interest amount (the “Client Interest Amount”) equal to the product of (i) the interest rate; and (ii) the amount denominated in such Negative Rate Currency and deposited in the Account in respect of such day, in each case, as determined by GTJAF in its sole and absolute discretion. Without prejudice to any other provisions, the Client irrevocably and unconditionally authorises GTJAF to apply, on the first trading day of each calendar month, any amounts (in whatever Currency and converted into the Negative Rate Currency at GTJAF's spot exchange rate determined by GTJAF in its sole and absolute discretion) standing to the credit of the Account and/or any other account(s) in the Client's name with GTJAF or with any of GTJAF's Affiliates in reduction of the total Client Interest Amount payable by the Client on all such days on which the interest rate is negative in the previous calendar month under the Agreement.
Negative Interest. Notwithstanding anything to the contrary in this Agreement, the parties hereby agree that, with respect to any Transaction as of any date, the Pricing Rate may be negative and the Price Differential may be a negative number.
