Common use of NETTING AGREEMENT Clause in Contracts

NETTING AGREEMENT. 62.1 If on any date the same amounts are payable by a Party to this Agreement to another Party to this Agreement in the same currency, then, each Party’s obligations to make payment of any such amount(s) will be automatically satisfied by ‘netting’. 62.2 If the amounts are not in the same currency, the amounts may be converted in accordance with the principles set forth in Section 50 hereinabove. 62.3 If the aggregate amount that is payable by one Party exceeds the aggregate amount that is payable by the other Party, then the Party by whom the larger aggregate amount is payable shall pay the excess to the other Party and the obligations to make payment of each party will be satisfied and discharged. 62.4 If the client relationship is terminated according to Sections 85, 0 and/or 87 and 88 hereinafter, then the claims that the Parties have against each other shall be finally discharged by means of netting (closed). The value of any open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the Parties shall be the difference between the payment obligations of the parties. 62.5 Rates based on which any such Transactions and/or Contracts shall be closed shall be the market rates applicable on the day on which we decide to close such Transactions and/or Contracts. We may, at our reasonable discretion, determine the rates by obtaining an offer from a market maker in the asset in question or by applying rates from electronic financial information systems. When determining the value of any such transactions and/or Contracts to be netted, we shall apply our usual spreads and include all costs and other charges. 62.6 This netting agreement shall be binding on all Parties to this Agreement and on the estate and/or creditors of all Parties to the client relationship under this Agreement.

NETTING AGREEMENT. 62.1 38.9.1. If on any date the same amounts are payable by a Party to this Agreement to another Party party to this Agreement in the same currency, then, each Party’s obligations to make payment of any such amount(s) will be automatically satisfied by ‘netting’. 62.2 . If the amounts are not in the same currency, the amounts may be converted in accordance with the principles set forth in Section 50 46 hereinabove. 62.3 38.9.2. If the aggregate amount that is payable by one Party party exceeds the aggregate amount that is payable by the other Partythird party, then the Party party by whom the larger aggregate amount is payable shall pay the excess to the other Party third party and the obligations to make payment of each party will be satisfied and discharged. 62.4 38.9.3. If the client Client relationship is terminated according to Sections 85, 0 and/or 87 and 88 hereinafterthe terms of this Agreement, then the claims that the Parties have against each other shall be finally discharged by means of netting (closed). The value of any open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the Parties shall be the difference between the payment obligations of the parties. 62.5 38.9.4. Rates based on which any such Transactions Transaction and/or Contracts Contract shall be closed shall be the market rates applicable on the day on which we decide to close such Transactions Transaction and/or ContractsContract. We may, at our reasonable discretion, determine the rates by obtaining an offer from a market maker in the asset in question or by applying rates from electronic financial information systems. When determining the value of any such transactions Transaction and/or Contracts Contract to be netted, we shall apply our usual spreads and include all costs and other additional charges. 62.6 38.9.5. This netting agreement shall be binding on all Parties to this Agreement and on the estate and/or creditors of all Parties to the client Client relationship under this Agreement.

NETTING AGREEMENT. 62.1 69.1 If on any date the same amounts are payable by a Party to this Agreement to another Party to this Agreement in the same currency, then, each Party’s obligations to make payment of any such amount(s) will be automatically satisfied by ‘netting’. 62.2 69.2 If the amounts are not in the same currency, the amounts may be converted in accordance with the principles set forth in Section 50 hereinabove. 62.3 69.3 If the aggregate amount that is payable by one Party exceeds the aggregate amount that is payable by the other Party, then the Party by whom the larger aggregate amount is payable shall pay the excess to the other Party and the obligations to make payment of each party will be satisfied and discharged. 62.4 69.4 If the client relationship is terminated according to Sections 8579, 0 and/or 87 81 and 88 hereinafter, then the claims that the Parties have against each other shall be finally discharged by means of netting (closed). The value of any open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the Parties shall be the difference between the payment obligations of the parties. 62.5 69.5 Rates based on which any such Transactions and/or Contracts shall be closed shall be the market rates applicable on the day on which we decide to close such Transactions and/or Contracts. We may, at our reasonable discretion, determine the rates by obtaining an offer from a market maker in the asset in question or by applying rates from electronic financial information systems. When determining the value of any such transactions and/or Contracts to be netted, we shall apply our usual spreads and include all costs and other charges. 62.6 69.6 This netting agreement shall be binding on all Parties to this Agreement and on the estate and/or creditors of all Parties to the client relationship under this Agreement.