Closing Out. (a) On or as soon as reasonably practicable following the occurrence of an Early Termination Date, Party A shall calculate the Early Termination Amount payable (together with Late Payment Compensation Charges) on the day on which notice on the amount payable is effective on the Early Termination Date. (b) An Early Termination Amount due in respect of any Early Termination Date will (together with any amount of Late Payment Compensation Charges) be payable on the day on which the notice of the amount payable is effective.
Appears in 2 contracts
Sources: Islamic Foreign Exchange and Islamic Foreign Exchange Options Master Agreement, Islamic Foreign Exchange and Islamic Foreign Exchange Options Master Agreement
Closing Out. (a) On or as soon as reasonably practicable following the occurrence of an Early Termination Date, Party A shall calculate the Early Termination Amount payable (together with Late Payment Compensation Chargesinterest at Default Rate) on the day on which notice on the amount payable is effective on the Early Termination Date.
(b) An Early Termination Amount due in respect of any Early Termination Date will (together with any amount of Late Payment Compensation Charges) be payable on the day on which the notice of the amount payable is effective.
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Sources: Foreign Exchange and Foreign Exchange Options Master Agreement