Model Clauses for Commodity Negative Prices
Model Clauses for Use with the 2005 ISDA Commodity Definitions (Negative Floating Amounts)
These Model Clauses are intended for use with the 2005 ISDA Commodity Definitions (the “Commodity Definitions”). They are designed to enable parties to incorporate express contractual provisions into confirmations and/or ISDA Master Agreements to clarify the consequences of a Floating Amount determined under Section 6.1 (Calculation of a Floating Amount) of the Commodity Definitions being a negative amount. Please note that the publication of these Model Clauses does not imply, and should not be construed as implying, that a negative Floating Amount would or would not be payable under the terms of the Commodity Definitions (absent use of one of the Model Clauses).