Common use of Calculation of the Settlement Amount Clause in Contracts

Calculation of the Settlement Amount. 8.1.1. The Replacement Value for each terminated Client Transaction shall be determined together with, if appropriate, the Amount Due by each Party and the Liquidity Costs and Liquidity Gains of the Party responsible for calculation (if not already integrated in the Replacement Value). Replacement Values, Amounts Due and Liquidity Costs and Gains 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 Client Transactions, the Party responsible for the calculation shall deduct from the total of (i) the positive Replacement Values, (ii) the Amounts Due by the other Party and (iii) its own Liquidity Costs the total of (i) the negative Replacement Values, (ii) the Amounts Due by it and (iii) its own Liquidity Gains. The (positive or negative) difference shall be the Settlement Amount. 8.1.3. Any Replacement Value, Amount Due, Liquidity Cost or Liquidity Gain 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. For the purposes of the application of this Article 8.1,

Calculation of the Settlement Amount. 8.1.1. The Replacement Value for each terminated Client Transaction shall be determined together with, if appropriate, the Amount Due by each Party and the Liquidity Costs and Liquidity Gains of the Party responsible for calculation (if not already integrated in the Replacement Value). Replacement Values, Amounts Due and Liquidity Costs and Gains 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 carried out as soon as possible. 8.1.2. In order to determine the Settlement Amount for all terminated Client Transactions, the Party responsible for the calculation shall deduct from the total of (i) the positive Replacement Values, (ii) the Amounts Due by the other Party and (iii) its own Liquidity Costs Costs, the total of (i) the negative Replacement Values, (ii) the Amounts Due by it and (iii) its own Liquidity Gains. The (positive or negative) difference shall be the Settlement Amount. 8.1.3. Any Replacement Value, Amount Due, Liquidity Cost or Liquidity Gain 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. For the purposes of the application of this Article 8.1,.