Close-out Amount means, with respect to each Terminated Transaction or each group of Terminated Transactions and a Determining Party, the amount of the losses or costs of the Determining Party that are or would be incurred under then prevailing circumstances (expressed as a positive number) or gains of the Determining Party that are or would be realised under then prevailing circumstances (expressed as a negative number) in replacing, or in providing for the Determining Party the economic equivalent of, (a) the material terms of that Terminated Transaction or group of Terminated Transactions, including the payments and deliveries by the parties under Section 2(a)(i) in respect of that Terminated Transaction or group of Terminated Transactions that would, but for the occurrence of the relevant Early Termination Date, have been required after that date (assuming satisfaction of the conditions precedent in Section 2(a)(iii)) and (b) the option rights of the parties in respect of that Terminated Transaction or group of Terminated Transactions. Any Close-out Amount will be determined by the Determining Party (or its agent), which will act in good faith and use commercially reasonable procedures in order to produce a commercially reasonable result. The Determining Party may determine a Close-out Amount for any group of Terminated Transactions or any individual Terminated Transaction but, in the aggregate, for not less than all Terminated Transactions. Each Close-out Amount will be determined as of the Early Termination Date or, if that would not be commercially reasonable, as of the date or dates following the Early Termination Date as would be commercially reasonable. Unpaid Amounts in respect of a Terminated Transaction or group of Terminated Transactions and legal fees and out-of-pocket expenses referred to in Section 11 are to be excluded in all determinations of Close-out Amounts. In determining a Close-out Amount, the Determining Party may consider any relevant information, including, without limitation, one or more of the following types of information:—
Close-out Amount means with respect to each Contract, the amount (expressed in U.S. Dollars or the U.S. Dollar Equivalent) calculated as payable by one party to the other upon Close-out of such Contract determined in accordance with the provisions of such Contract, or if no such provisions are specified, by following such procedures as the BNPP Entities determine in good faith are commercially reasonable and in accordance with industry practice.
Close-out Amount has the meaning given to it in Section 8.1.
Examples of Close-out Amount in a sentence
If this Agreement is terminated pursuant to Section 11.3, the Performing Party shall determine in a commercially reasonable manner a termination payment equal to (a) the sum of (i) the greater of (x) the Close-out Amount determined by and owing to the Performing Party and (y) $0, plus (ii) the Unpaid Amounts owing to the Performing Party less (b) the Unpaid Amounts owing to the Defaulting Party (“Termination Payment”).
More Definitions of Close-out Amount
Close-out Amount has the meaning given to it in Section 5.1.
Close-out Amount means the single net positive or negative amount denominated in Euro determined by the non-defaulting Clearing Member pursuant to Article B.6.2.2-ter in accordance with Legislative Decree 21 May 2004 No. 170.
Close-out Amount shall have the meaning ascribed to it in the Intercreditor Agreement.
Close-out Amount means, with respect to each Terminated Transaction or each group of Terminated Transactions and a Determining Party, the amount of the losses or costs of the Determining Party that are or would be incurred under then prevailing circumstances (expressed as a positive number) or gains of the Determining Party that are or would be realised under then prevailing circumstances (expressed as a negative number) in replacing, or in providing for the Determining Party the economic equivalent of, (a) the material terms of that Terminated Transaction or group of Terminated Transactions, including the payments and deliveries by the parties under Section 2(a)(i) in respect of that Terminated Transaction or group of Terminated Transactions that would, but for the occurrence of the relevant Early Termination Date, have been required after that date (assuming satisfaction of the conditions precedent in Section 2(a)(iii)) and (b) the option rights of the parties in respect of that Terminated Transaction or group of Terminated Transactions.
Close-out Amount means the single termination amount, calculated as due from one party to the other if an Hedge Contract is terminated;
Close-out Amount means the amount due under a Covered Agreement, including any credit support or other property deliverable, as a result of the acceleration, termination or other close-out of such Covered Agreement in accordance with the terms thereof.”
Close-out Amount means, unless otherwise specifically provided for in the transaction documentation applicable to a particular transaction or group of transactions, with respect to each terminated transaction, the amount of the losses or costs of SHKCOM that are or would be incurred under then prevailing circumstances (expressed as a positive number) or gains of SHKCOM that are or would be realised under then prevailing circumstances (expressed as a negative number) in replacing, or in providing for SHKCOM the economic equivalent of the material terms of that terminated transaction. Any Close-out Amount will be determined by SHKCOM (or its agent), which will act in good faith and use commercially reasonable procedures in order to produce a commercially reasonable result. Unpaid Amounts in respect of a terminated transaction and legal fees and out-of-pocket expenses are to be excluded in all determinations of Close-out Amounts. In determining a Close-out Amount, SHKCOM may consider any relevant information, including, without limitation, quotations (either firm or indicative) for replacement transactions supplied by one or more third parties and market data in the relevant market. When it is commercially reasonable to do so, SHKCOM may in addition consider in calculating a Close-out Amount any loss or cost (or gain) incurred in connection with its terminating, liquidating or re-establishing any hedge related to a terminated transaction. Commercially reasonable procedures used in determining a Close-out Amount may include the application of pricing or other valuation models that are, at the time of the determination of the Close-out Amount, used by SHKCOM in the regular course of its business in pricing or valuing transactions.