Negative Interest Rates. Party A and Party B agree that: if, with respect to a Calculation Period for a Transaction, a party ("X") is obligated to pay a Floating Amount that is a negative number (either by reason of a negative Floating Rate or the subtraction of a Spread from the Floating Rate), the Floating Amount with respect to X for that Calculation Period will be deemed to be zero.
Appears in 3 contracts
Sources: Isda Master Agreement (Credit Suisse First Boston Mortgage Securities Corp), Isda Master Agreement (Credit Suisse First Boston Mortgage Securities Corp), Isda Master Agreement (Credit Suisse First Boston Mortgage Securities Corp)