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Bilateral Setoff Sample Clause 3
Derivatives Deskbook: Close-Out Netting, Risk Mitigation, Litigation 2nd Edition (Rel#2, 2016)
Book Publication Date:
Setoff rights are included in master agreements for swap transactions as a way to reduce the credit exposure of the parties and the financial sytem as a whole.
Bilateral setoff rights allow the two parties to offset debts owed to each other and create one net payment in the event a transaction is terminated.
PLI Item #:
Banking, Bankruptcy & Restructuring, Corporate & Securities
"event of default"
"termination currency equivalent"
"early termination date"
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