Common use of Calculation of the Settlement Amount Clause in Contracts

Calculation of the Settlement Amount. 8.1.1. In application of the general principle relating to the determination of the Settlement Amount, the Replacement Value for each terminated Transaction, shall be determined together with, if appropriate, the Amount Due by each Party in respect of such Transaction. Replacement Values and Amounts Due shall be determined by the Non-Defaulting Party or the Non-Affected Party (or if there are two Affected Parties, by each Party). Such determination shall be made as soon as possible. 8.1.2. In order to determine the Settlement Amount for all terminated Transactions, the Party responsible for the calculation shall deduct from the total of the positive Replacement Values and the Amounts Due by the other Party the total of the negative Replacement Values and the Amounts Due by it. The difference (positive or negative) shall be the Settlement Amount. 8.1.3. Any Replacement Value or Amount Due denominated in a Currency other than the Termination Currency shall be converted into such Currency at the Termination Date on the basis of the spot rates available to the Party responsible for the calculation at 12 noon on such date.