Walkaway clause means any provision which permits a party to a netting agreement that is not in default to make limited payments or no payments at all, to a defaulting party under the same netting agreement, even if the party that is in default is a net creditor under the netting agreement.
Walkaway clause means a provision in a netting agree- ment or a qualified financial contract that, after calculation of a value of a party’s position or an amount due to or from one of the parties in accordance with its terms upon termination, liquidation, or acceleration of the netting agreement or qualified financial con- tract, either does not create a payment obligation of a party or extinguishes a payment obligation of a party, in whole or in part, solely because of the party’s status as a nondefaulting party.
Walkaway clause means any provision which permits a party to a netting agreement that is not in default to make limited payments or no payments at all, to a defaulting party under the same netting agreement, even if the party that is in default is a net creditor under the netting agreement but does not include any provision which provides for an enforceable set-off arrangement.
Examples of Walkaway clause in a sentence
The Walkaway clause is in its infancy, but it appears to have given Hyundai a competitive advantage.149 Ford and General Motors have already developed their own variations,150 and only time will tell what the future holds for its evolution.151 3.
The corporate credit union maintains in its files documentation adequate to sup- port the netting of an off-balance sheet de- rivative contract.5 (iii) Walkaway clause.
More Definitions of Walkaway clause
Walkaway clause means a provision in a netting
Walkaway clause means a provision in a bilateral netting contract that permits a nondefaulting counterparty to make a lower payment than it would make otherwise under the bilateral netting contract, or no payment at all, to a defaulter or the estate of a defaulter, even if the defaulter or the es- tate of the defaulter is a net creditor under the bilateral netting contract.
Walkaway clause means a provision in a netting agreement or a
Walkaway clause means a provision under which a party to a netting agreement or qualified financial contract that, after calculation of a value of a party's position or an amount due to or from one of the parties in accordance with its terms upon termination, liquidation, or acceleration of the netting agreement or qualified financial contract is not obligated to pay or does not have a payment obligation extinguished under the agreement or contract, in whole or in part, solely because the party is a nondefaulting party.
Walkaway clause means a provision in a netting agreement or a qualified financial contract that,
Walkaway clause means a provision in a
Walkaway clause means any provision which permits a party to a netting agreement that is not in default to make limited payments or no payments at all, to a defaulting party under the same netting agreement,