Section 2(a)(iii): expired transactions not included in ISDA® Early Termination calculations (High Court) | Practical Law
In Pioneer Freight Futures Company Ltd v Cosco Bulk Carrier Company Ltd [2011] EWHC 1692 (Comm), the High Court has considered the effect of section 2(a)(iii) and the Automatic Early Termination, Loss and Second Method provisions of a 1992 ISDA Master Agreement to determine which transactions are to be brought into the close-out calculations following Automatic Early Termination.