Legal glossary
“close-out netting”
Defined in 1 Acts. A definition holds for the Act that gives it; the same word can mean something else in another Act.
The Bilateral Netting of Qualified Financial Contracts Act, 2020 · s. 2
(e) "close-out netting" means a process involving termination of obligations under a qualified financial contract with a party in default and subsequent combining of positive and negative replacement values into a single net payable or receivable as set out in section 6;
Read section 2