close-out netting definition
close-out netting means a netting arrangement under which, following the occurrence of certain events specified by the parties to the arrangement, all or any of the transactions referred to in the netting arrangement may be terminated, and where so terminated the termination value becomes due and payable;
close-out netting means a process involving termination of obligations under a qualified financial contract with a party in default and subsequent combining of positive and negative replacement values into a single net payable or receivable as set out in section 6;
close-out netting means any step involved in determining an Early Termination Amount (as defined in the 2002 ISDA Master Agreement) under section 6(e) (Payments on Early Termination) of the 2002 ISDA Master Agreement.
More Definitions of close-out netting
close-out netting means: (a) in respect of a Secured Hedge Agreement based on a 1992 ISDA Master Agreement, any step involved in determining the amount payable in respect of an Early Termination Date (as defined in the 1992 ISDA Master Agreement) under section 6(e) (Payments on Early Termination) of the 1992 ISDA Master Agreement before the application of any subsequent Set-off (as defined in the 1992 ISDA Master Agreement); (b) in respect of a Secured Hedge Agreement based on a 2002 ISDA Master Agreement, any step involved in determining an Early Termination Amount (as defined in the 2002 ISDA Master Agreement) under section 6(e) (Payments on Early Termination) of the 2002 ISDA Master Agreement; and (c) in respect of a Secured Hedge Agreement not based on an ISDA Master Agreement, any step involved on a termination of the hedging transactions under that Secured Hedge Agreement pursuant to any provision of that Secured Hedge Agreement which has a similar effect to either provision referenced in paragraph (a) and paragraph (b) above.
close-out netting means a netting arrangement where
close-out netting means a contractual arrangement under Czech or foreign law,
close-out netting means a process involving termination of obligations under a Qualified Financial Contract with a party in default and subsequent combining of positive and negative replacement values into a single net payable or receivable in accordance with the Netting Act.
close-out netting means (a) in respect of a Hedge Agreement based on a 1992 ISDA Master Agreement, any step involved in determining the amount payable in respect of an Early Termination Date (as defined in the 1992 ISDA Master Agreement) under section 6(e) of the 1992 ISDA Master Agreement before the application of any subsequent Set-off (as defined in the 1992 ISDA Master Agreement); and (b) in respect of a Hedge Agreement based on a 2002 ISDA Master Agreement, any step involved in determining an Early Termination Amount (as defined in the 2002 ISDA Master Agreement) under section 6(e) of the 2002 ISDA Master Agreement before the application of any subsequent set-off pursuant to section 6(f) of the 2002 ISDA Master Agreement; and (c) in respect of any other Hedge Agreements set-off, account combination, close-out netting or payment netting (whether arising out of a cross agreement netting agreement or otherwise) relating to terminated Hedge Agreements but without application of any set-off of the type otherwise captured pursuant to section 6(f) of the 2002 ISDA Master Agreement.
close-out netting means any step involved in determining an Early Termination Amount (as defined in the relevant Hedging Agreement) under section 6(e) of the relevant ISDA Master Agreement; and
close-out netting means a contractual provision, including a provision in a collateral arrangement, or, in the absence of any such provision, any statutory rule, on the basis of which, upon the occurrence of a predefined event in relation to a