Payment Netting definition

Payment Netting means in respect of a Hedging Agreement based on an ISDA Master Agreement, netting under section 2(c) of the relevant ISDA Master Agreement.

Payment Netting means: (a) in respect of a Secured Hedge Agreement based on an ISDA Master Agreement, netting under section 2(c) of the relevant ISDA Master Agreement; and (b) in respect of a Secured Hedge Agreement not based on an ISDA Master Agreement, netting pursuant to any provision of that Secured Hedge Agreement which has a similar effect to the provision referenced in paragraph (a) above.

Payment Netting means a netting arrangement where on any day on which amounts are due between the parties in respect of one or more transactions, the party with the higher gross payment obligation is obligated to pay to the other party the net amount of the gross payment obligations of the parties;

Examples of Payment Netting in a sentence

• If Multiple Transaction Payment Netting is applicable to Transactions, it will apply to those Transactions with effect from the starting date specified in the Schedule or such Confirmation, or, if a starting date is not specified in the Schedule or such Confirmation, the starting date otherwise agreed by the parties in writing.

• The election may be made in the Schedule or any Confirmation by specifying that "Multiple Transaction Payment Netting" applies to the Transactions identified as being subject to the election (in which case clause (ii) above will not apply to such Transactions).

• Multiple Transaction Payment Netting and the provisions of Section 6(f) of the Agreement shall not apply.

• In case of Party A, as with the provisions of § 13.3 (Payment Netting) of the EFET Agreement Party A is to be paid under the Contract, if the assignee of Party A is an Affiliate of Party A, then Parties agree that such assignee needs not to prove to be financially sound.

• Multiple Transaction Payment Netting will not apply for the purposes of Section 2(c) of this Agreement.

More Definitions of Payment Netting

Payment Netting. If the payment dates for this transaction and any other forward, swap or option transaction entered into between the parties shall fall on the same day and if the payment obligations thereof shall be denominated in the same currency, such payments shall be made on a net basis so that the party obligated to pay the larger amount shall day the other party an amount equal to the excess of the larger aggregate amount over the smaller aggregate amount or if such amounts are equal, no payment shall be made. Representations: ESKOM shall have the option to terminate this Transaction upon 5 Business Days written notice if at any time the transaction between ESKOM and X. Xxxx & Company dated the date hereof (the "Related Hedge") shall be closed out and terminated, provided, however, that no payment of Termination Value shall be due under this Transaction until any termination value payment under the Related Hedge is due. ESKOM and Durban agree that the Termination Value of this Transaction shall equal the Termination Value of the Related Hedge, provided that the obligations incurred by Eskom under the related hedge are based on this transaction. ESKOM agrees it shall give Durban prompt written notice of the occurrence of any Termination Event with respect to the Related Hedge.

Payment Netting means: A44420063

Payment Netting means netting under section 2(c) of the relevant Hedging Agreement.

Payment Netting means netting under section 2(c) of the 2002 ISDA Master Agreement.

Payment Netting means netting under section 2(c) of the ISDA Master Agreement. "Permitted External Creditor Payment" means the Payments permitted by Clause 3.1 (Payment of External Creditor Liabilities).

Payment Netting means netting under section 2(c) of the relevant ISDA Master Agreement.

Payment Netting means netting under section 2(c) of the ISDA Master Agreement. PCOD Sunset Date means 1 April 2024.