Transactions in respect of which it is designating the relevant day as an Early Termination Date, a day not earlier than two Local Business Days following the day on which such notice becomes effective as an Early Termination Date in respect of less than all Affected Transactions. Upon receipt of a notice designating an Early Termination Date in respect of less than all Affected Transactions, the other party may, by notice to the designating party, if such notice is effective on or before the day so designated, 後之任一天作為提前終止日。另一方於收到僅就部分受影響交易指定提前終止日之通知後得通知指定方(該通知須於指定之提前終止日或之前生效)就任何或所有其他受影響交易指定同日為提前終止日。
designate that same day as an Early Termination Date in respect of any or all other Affected Transactions.
(B) An Affected Party (if the Illegality or Force Majeure Event relates to performance by such party or any Credit Support Provider of such party of an obligation to make any payment or delivery under, or to compliance with any other material provision of, the relevant Credit Support Document) will only have the right to designate an Early Termination Date under Section 6(b)(iv)(2)(A) as a result of an Illegality under Section 5(b)(i)(2) or a Force Majeure Event under Section 5(b)(ii)(2) following the prior designation by the other party of an Early Termination Date, pursuant to Section 6(b)(iv)(2)(A), in respect of less than all Affected Transactions.
(c) Effect of Designation. (i) If notice designating an Early Termination Date is given under Section 6(a) or 6(b), the Early Termination Date will occur on the date so designated, whether or not the relevant Event of Default or Termination Event is then continuing.
(ii) Upon the occurrence or effective designation of an Early Termination Date, no further payments or deliveries under Section 2(a)(i) or 9(h)(i) in respect of the Terminated Transactions will be required to be made, but without prejudice to the other provisions of this Agreement. The amount, if any, payable in respect of an Early Termination Date will be determined pursuant to Sections 6(e) and 9(h)(ii).
(d) Calculations; Payment Date. (i) Statement. On or as soon as reasonably practicable following the occurrence of an Early Termination Date, each party will make the calculations on its part, if any, contemplated by Section 6(e) and will provide to the other party a statement (l) showing, in reasonable detail, such calculations (including any quotations, market data or information from internal sources used in making such calculations), (2) specifying (except where there are two Affected Parties) any Early Termination Amount payable and (3) giving details of the relevant account to which any amount payable to it is to be paid. In the absence of written confirmation from the source of a quotation or market data obtained in determining a
(B) 任何受影響方(如非法或不可抗力事件係與該方或該方之任何信用支持提供者履行有關信用支持文件下支付或交付之義務有關，或與遵守有關信用支持文件任何其他重要條款有關)僅於另一方根據第6(b)(iv)(2)(A)條就部分受影響交易指定提前終止日之後，始有權按第6(b)(iv)(2)(A)條就第5(b)(i)(2)條下之非法或第5(b)(ii)(2)條下之不可抗力事件造成之結果指定提前終止日。
(c) 指定之效力。
(i) 如按第6(a)或6(b)條發出通知指定提前終止日，則不論相關之違約事件或終止事件是否持續，該提前終止日將於指定之日期生效。
(ii) 當提前終止日發生或被有效指定時，無須再就已終止交易進行第2(a)(i)或第9(h)(i)條下之付款或交付，惟本協議之其他規定將不受影響。有關提前終止日應支付之款項(如有)將按第6(e)和第9(h)(ii)條之規定決定。
(d) 計算；付款日。
(i) 報告。於提前終止日或其後合理可行之最短時間內，各方應按第6(e)條之規定計算其帳目，並提供對方一份報告：(1)合理詳細地說明此等計算(包括計算中使用之任何報價、市場數據或內部訊息)，(2)說明應付之任何提前終止款項(於有兩個受影響方之情況除外)，以及(3)詳細說明其應收款項應存入之有關帳戶。若於確定結算款項之過程中，就一項報價或市場數據無法自其來源得到書面確認，則獲取該報價或市場數據一方之記錄將成為該報價或市場數據存在及正確性之絕對證明。
Close-out Amount, the records of the party obtaining such quotation or market data will be conclusive evidence of the existence and accuracy of such quotation or market data.
(ii) Payment Date. An Early Termination Amount due in respect of any Early Termination Date will, together with any amount of interest payable pursuant to Section 9(h)(ii)(2), be payable (1) on the day on which notice of the amount payable is effective in the case of an Early Termination Date which is designated or occurs as a result of an Event of Default and (2) on the (ii) 付款日。就任何提前終止日所計算之提前終止款項將連同根據第9(h)(ii)(2)條應付之任何利息款項，(1)於因違約事件指定提前終止日時，應於付款通知書生效當日支付，及(2)於因終止事件指定提前終止日時，應於付款通知書生效日後之第二個當地營業日支付(或如有兩個受影響方，則於第二方根據day which is two Local Business Days after the day on which notice of the amount payable is effective (or, if there are two Affected Parties, after the day on which the statement provided pursuant to clause (i) above by the second party to provide such a statement is effective) in the case of an Early Termination Date which is designated as a result of a Termination Event.
(e) Payments on Early Termination. If an Early Termination Date occurs, the amount, if any, payable in respect of that Early Termination Date (the “Early Termination Amount”) will be determined pursuant to this Section 6(e) and will be subject to Section 6(f).
(i) Events of Default. If the Early Termination Date results from an Event of Default, the Early Termination Amount will be an amount equal to (1) the sum of (A) the Termination Currency Equivalent of the Close-out Amount or Close-out Amounts (whether positive or negative) determined by the Non-defaulting Party for each Terminated Transaction or group of Terminated Transactions, as the case may be, and (B) the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party less (2) the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party. If the Early Termination Amount is a positive number, the Defaulting Party will pay it to the Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay the absolute value of the Early Termination Amount to the Defaulting Party.
(ii) Termination Events. If the Early Termination Date results from a Termination Event:―
(1) One Affected Party. Subject to clause (3) below, if there is one Affected Party, the Early Termination Amount will be determined in accordance with Section 6(e)(i), except that references to the Defaulting Party and to the Non-defaulting Party will be deemed to be references to the Affected Party and to the Non-affected Party, respectively.
(2) Two Affected Parties. Subject to clause (3) below, if there are two Affected Parties, each party will determine an amount equal to the Termination Currency Equivalent of the sum of the Close-out Amount or Close-out Amounts (whether positive or negative) for each Terminated Transaction or group of Terminated Transactions, as the case may be, and the Early Termination Amount will be an amount equal to (A) the sum of (I) one-half of the
第(i)款所提供之報告生效日之後支付)。
(e) 提前終止之付款。如發生提前終止日時，就提前終止日應繳付之款項(如有)(以下簡稱“提前終止款項”)將根據本第6(e)條確定且須遵守第6(f)條之規定。
(i) 違約事件。如提前終止日係因違約事件產生，提前終止款項等於(1)以下(A)項與(B)項之和：(A)為未違約方就每一項終止交易或一組終止交易(視情況而定)決定之結算款項(無論是正數還是負數)相當於終止貨幣之金額；(B)為積欠未違約方之未付款項相當於終止貨幣之金額，減去(2)積欠違約方之未付款項相當於終止貨幣之金額。如該提前終止款項為正數，應由違約方向未違約方支付；如該提前終止款項為負數，未違約方應向違約方支付該金額之絕對值。
(ii) 終止事件。如提前終止日係因終止事件產生：–
(1) 一個受影響方。除依下述第(3)款之規定，倘只有一個受影響方，提前終止款項應按第6(e)(i)條決定，惟有關違約方與未違約方之事項將分別視為對受影響方及未受影響方之事項。
(2) 兩個受影響方。除依下述第(3)款之規定，如有兩個受影響方，各方將就每一項終止交易或一組終止交易(視情況而定)決定一筆相等於終止貨幣金額之結算款項(無論是正數還是負數)，而提前終止款項將等於(A)以下(I)項與(II)項之和：(I)為(由“X”方)決定之較高之金額與(由“Y”方)決定之較低金額之差額之一半；(II)積欠X方之未付款項之相當於終止貨幣之金額，減去
difference between the higher amount so determined (by party “X”) and the lower amount so determined (by party “Y”) and (II) the Termination Currency Equivalent of the Unpaid Amounts owing to X less (B) the Termination Currency Equivalent of the Unpaid Amounts owing to Y. If the Early Termination Amount is a positive number, Y will pay it to X; if it is a negative number, X will pay the absolute value of the Early Termination Amount to Y.
(3) Mid-Market Events. If that Termination Event is an Illegality or a Force Majeure Event, then the Early Termination Amount will be determined in accordance with clause (1) or (2) above, as appropriate, except that, for the purpose of determining a Close-out Amount or Close-out Amounts, the Determining Party will:―
(A) if obtaining quotations from one or more third parties (or from any of the Determining Party’s Affiliates), ask each third party or Affiliate (I) not to take account of the current creditworthiness of the Determining Party or any existing Credit Support Document and (II) to provide mid-market quotations; and
(B) in any other case, use mid-market values without regard to the creditworthiness of the Determining Party.
(iii) Adjustment for Bankruptcy. In circumstances where an Early Termination Date occurs because Automatic Early Termination applies in respect of a party, the Early Termination Amount will be subject to such adjustments as are appropriate and permitted by applicable law to reflect any payments or deliveries made by one party to the other under this Agreement (and retained by such other party) during the period from the relevant Early Termination Date to the date for payment determined under Section 6(d)(ii).
(iv) Adjustment for Illegality or Force Majeure Event. The failure by a party or any Credit Support Provider of such party to pay, when due, any Early Termination Amount will not constitute an Event of Default under Section 5(a)(i) or 5(a)(iii)(1) if such failure is due to the occurrence of an event or circumstance which would, if it occurred with respect to payment, delivery or compliance related to a Transaction, constitute or give rise to an Illegality or a Force Majeure Event. Such amount will (1) accrue interest and otherwise be treated as an Unpaid Amount owing to the other party if subsequently an Early Termination Date results from an Event of Default, a Credit Event Upon Merger or an Additional Termination Event in respect of which all outstanding Transactions are Affected Transactions and (2) otherwise accrue interest in accordance with Section 9(h)(ii)(2).
(v) Pre-Estimate. The parties agree that an amount recoverable under this Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such amount is payable for the loss of bargain and the loss of protection
(B)積欠Y方之未付款項之相當於終止貨幣之金額。如提前終止款項為正數，Y方應向X方支付；如提前終止款項為負數，X方應向Y方支付該金額之絕對值。
(3) 市場中間價事件。如該終止事件係非法或不可抗力事件，則提前終止款項將根據上述第(1)及第(2)款(視情況而定)決定，但決定方在確定結算款項時將：–
(A) 若自一個或數個第三方(或自決定方之任何關係人)獲取報價，則該第三方或關係人應：(I)不考慮決定方目前之信用情況或任何現存之信用支持文件，及(II)提供中間市場報價；及
(B) 於其他情況下，使用市場中間價，並且毋須考慮決定方之信用情況。
(iii) 破產調整。如提前終止日因自動提前終止適用於一方而產生，提前終止款項將根據相關法律而得為適當之調整，以反映自有關提前終止日起至第6(d)(ii)條決定之付款日止之期間內，一方於本協議下對另一方支付(並為該方保留)之任何款項或其它交付。
(iv) 就非法或不可抗力事件所為之調整。一方或該方之信用支持提供者未能於到期日支付任何提前終止款項，並且此一未能按期付款之事件或情況如發生於有關交易下之付款、交付或遵守協議之義務時將構成或導致非法或不可抗力事件，此一行為將不構成第5(a)(i)、或5(iii)(1)條下之違約事件。該款項係：(1)累計利息，及倘隨後由於違約事件、因合併造成之信用事件或其他終止事件致所有未完成交易成為受影響交易而導致提前終止日之發生，而應被視為積欠另一方之未付款項；及(2)根據第9(h)(ii)(2)條計算利息。
(v) 預先估計。雙方同意，按第6(e)條支付之款項係對虧損之合理預先估計而非違約金。支付該數額之目的係為補償交易之未能實現及保障未來損失之風險。除非本協議另有規定，任何一方均無權因終
against future risks, and, except as otherwise provided in this Agreement, neither party will be entitled to recover any additional damages as a consequence of the termination of the Terminated Transactions.
(f) Set-Off. Any Early Termination Amount payable to one party (the “Payee”) by the other party (the “Payer”), in circumstances where there is a Defaulting Party or where there is one Affected Party in the case where either a Credit Event Upon Merger has occurred or any other Termination Event in respect of which all outstanding Transactions are Affected Transactions has occurred, will, at the option of the 止交易之終止而收取任何額外賠償。
(f) 抵銷。在出現違約方或發生因合併造成之信用事件而產生一個受影響方之情況下，或發生任何其他終止事件而所有未完成交易成為受影響交易時，一方(以下簡稱“付款人”)應向另一方(以下簡稱“收款人”)支付之任何提前終止款項將按未違約方或未受影響方(視情況而定，以下簡稱“X”方)之選擇(無需事先通知違約方或受影響方Non-defaulting Party or the Non-affected Party, as the case may be (“X”) (and without prior notice to the Defaulting Party or the Affected Party, as the case may be), be reduced by its set-off against any other amounts (“Other Amounts”) payable by the Payee to the Payer (whether or not arising under this Agreement, matured or contingent and irrespective of the currency, place of payment or place of booking of the obligation). To the extent that any Other Amounts are so set off, those Other Amounts will be discharged promptly and in all respects. X will give notice to the other party of any set-off effected under this Section 6(f).
For this purpose, either the Early Termination Amount or the Other Amounts (or the relevant portion of such amounts) may be converted by X into the currency in which the other is denominated at the rate of exchange at which such party would be able, in good faith and using commercially reasonable procedures, to purchase the relevant amount of such currency.
If an obligation is unascertained, X may in good faith estimate that obligation and set off in respect of the estimate, subject to the relevant party accounting to the other when the obligation is ascertained.
Nothing in this Section 6(f) will be effective to create a charge or other security interest. This Section 6(f) will be without prejudice and in addition to any right of set-off, offset, combination of accounts, lien, right of retention or withholding or similar right or requirement to which any party is at any time otherwise entitled or subject (whether by operation of law, contract or otherwise).
7. Transfer
Subject to Section 6(b)(ii) and to the extent permitted by applicable law, neither this Agreement nor any interest or obligation in or under this Agreement may be transferred (whether by way of security or otherwise) by either party without the prior written consent of the other party, except that:―
(a) a party may make such a transfer of this Agreement pursuant to a consolidation or amalgamation with, or merger with or into, or transfer of all or substantially all its assets to, another entity (but without prejudice to any other right or remedy under this Agreement); and
(b) a party may make such a transfer of all or any part of its interest in any Early Termination Amount payable to it by a Defaulting Party, together with any amounts payable on or with respect to that interest and any other rights associated
(視情況而定))下用於扣減抵銷收款人應向付款人支付之任何其他款項(以下簡稱“其他款項”)(無論其是否基於本協議所產生、到期的或或有的，亦無論該債務之幣別、支付地點或債務入帳之地點)。於任何其他款項以此方式抵銷時，此等其他款項之付款義務將被立即全部解除。X方將通知另一方根據本第6(f)條所為之任何抵銷。
為此項之目的，X方得以善意依合理之商業程序購得相關數額該種貨幣時之匯率將提前終止款項或其他款項(或此款項之相關部分)兌換成另一幣別之金額。
倘一項債務尚未確定，X方得以善意預估該債務並就該預估數目進行抵銷，惟該債務確定後應由相關交易方對交易他方為相關入帳。
本第6(f)條之規定不具有設定負擔或其他擔保權益之效力。本第6(f)條不影響，並且額外存在於任何一方得隨時享有之(不論係依法律、契約或其他規定)任何抵銷權、抵充權、帳戶合併權、留置權、保留權或預扣或類似之權利或要求。
7. 轉讓
依第6(b)(ii)條之規定並於相關法律允許之範圍內，未經另一方事先書面同意，本協議任何一方不得轉讓本協議或本協議下任何權益或義務(不論以擔保或其它方式)，惟下列情況除外：–
(a) 一方得透過與另一實體結合或合併，併購另一實體，或對另一實體轉讓其所有或大部份資產以轉讓本協議(但不影響本協議下任何其它權利或救濟措施)；及
(b) 一方得轉讓違約方應向其支付之任何提前終止款項之全部或部分之權益，以及其根據第8、第9(h)及第11條就上述款項享有之利息及任何其他權利。
with that interest pursuant to Sections 8, 9(h) and 11.
Any purported transfer that is not in compliance with this Section 7 will be void.
8. Contractual Currency
(a) Payment in the Contractual Currency. Each payment under this Agreement will be made in the relevant currency specified in this Agreement for that payment (the “Contractual Currency”). To the extent permitted by applicable law, any obligation to make payments under this 與第7條不符之任何轉讓均為無效。
8. 約定貨幣
(a) 以約定貨幣進行之付款。本協議下各款項均應以本協議規定之相關貨幣(以下簡稱“約定貨幣”)支付。在適用法律許可之範圍內，本協議下以約定貨幣付款之任何義務如透過約定貨幣以外之其它貨幣償付，不視為己清Agreement in the Contractual Currency will not be discharged or satisfied by any tender in any currency other than the Contractual Currency, except to the extent such tender results in the actual receipt by the party to which payment is owed, acting in good faith and using commercially reasonable procedures in converting the currency so tendered into the Contractual Currency, of the full amount in the Contractual Currency of all amounts payable in respect of this Agreement. If for any reason the amount in the Contractual Currency so received falls short of the amount in the Contractual Currency payable in respect of this Agreement, the party required to make the payment will, to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall. If for any reason the amount in the Contractual Currency so received exceeds the amount in the Contractual Currency payable in respect of this Agreement, the party receiving the payment will refund promptly the amount of such excess.
(b) Judgments. To the extent permitted by applicable law, if any judgment or order expressed in a currency other than the Contractual Currency is rendered (i) for the payment of any amount owing in respect of this Agreement, (ii) for the payment of any amount relating to any early termination in respect of this Agreement or (iii) in respect of a judgment or order of another court for the payment of any amount described in clause (i) or (ii) above, the party seeking recovery, after recovery in full of the aggregate amount to which such party is entitled pursuant to the judgment or order, will be entitled to receive immediately from the other party the amount of any shortfall of the Contractual Currency received by such party as a consequence of sums paid in such other currency and will refund promptly to the other party any excess of the Contractual Currency received by such party as a consequence of sums paid in such other currency if such shortfall or such excess arises or results from any variation between the rate of exchange at which the Contractual Currency is converted into the currency of the judgment or order for the purpose of such judgment or order and the rate of exchange at which such party is able, acting in good faith and using commercially reasonable procedures in converting the currency received into the Contractual Currency, to purchase the Contractual Currency with the amount of the currency of the judgment or order actually received by such party.
(c) Separate Indemnities. To the extent permitted by applicable law, the indemnities in this Section 8 constitute separate and independent obligations from the other obligations in this Agreement, will be enforceable as separate and independent causes of action, will apply notwithstanding any indulgence granted by the party to
償或滿足，惟若該等償付款項被應收款方以善意按合理之商業程序將本協議下應付之所有數額全數兌換為約定貨幣並實際收訖，則不受此限。如因任何原因，所收約定貨幣少於本協議下應付之約定貨幣額，按要求付款一方於適用法律許可之範圍內，立即以約定貨幣支付該等額外數額以補足缺額。如因任何原因，所收約定貨幣超過本協議下應付之約定貨幣額，收款方應立即將該等超出額退回。
(b) 判決。在相關法律許可之範圍內，如任何判決或命令中明示以約定貨幣以外之貨幣支付：(i)本協議下所積欠任何款項；(ii)有關本協議任何提前終止之任何款項或(iii)另一法院所為有關支付上述第(i)或第(ii)款所載款項之判決或命令，則請求補償之一方於收取其根據判決或命令有權獲得之總金額後，有權立即自另一方獲得該方因以其它貨幣付款而少收之約定貨幣，或立即向另一方退回因以其它貨幣付款而多收之約定貨幣，倘該缺額或超出係因約定貨幣為該判決或命令之目的兌換為判決或命令中之貨幣時之匯率，與該方以善意按合理之商業程序以實際收到之判決或命令中之貨幣款項購買約定貨幣時能夠實際獲得之匯率不同而導致或產生。
(c) 分別賠償。在適用法律許可之範圍內，本第8條之賠償構成分別和獨立之義務，有別於本協議下其他義務，並將作為分別和獨立之理由而得據以執行，無論應收款一方是否給予任何寬容均得以適用，並不受就本協議下應付之任何其他款項因獲得之判決或提出要求或提