Confirmation Procedures. Except as otherwise expressly provided in a Confirmation with respect to a Transaction, for each Transaction that Party A and Party B enter hereunder, Party A shall promptly send to Party B a Confirmation setting forth the terms of such Transaction. Party B shall promptly execute and return the Confirmation to Party A or request correction of any error. Failure of Party B to respond within such period shall not affect the validity or enforceability of such Transaction and shall be deemed to be an affirmation and acceptance of such terms.
Appears in 4 contracts
Sources: Isda 2002 Master Agreement (FS Investment Corp III), 2002 Master Agreement (FS Investment Corp III), 2002 Master Agreement (NewStar Financial, Inc.)
Confirmation Procedures. Except as otherwise expressly provided in a Confirmation with respect to a Transaction, for For each Transaction that Party A and Party B enter hereunder, Party A shall promptly send to Party B a Confirmation setting forth the terms of such Transaction. Party B shall promptly execute and return the Confirmation to Party A or request correction of any errorerror within five Business Days of receipt. Failure of Party B to respond within such period shall not affect the validity or enforceability of such Transaction and shall be deemed to be an affirmation and acceptance of such terms.
Appears in 2 contracts
Sources: Isda Master Agreement (Lifepoint Hospitals, Inc.), Isda Master Agreement (Parallel Petroleum Corp)
Confirmation Procedures. Except as otherwise expressly provided in a Confirmation with respect to a Transaction, for For each Transaction that Party A and Party B enter into hereunder, Party A shall promptly send to Party B a Confirmation setting forth the terms of such Transaction. Party B shall promptly execute and return the Confirmation to Party A or request correction of any errorerror therein within the next Business Day following receipt. Failure of Party A to send a Confirmation or of Party B to respond within such period shall not affect the validity or enforceability of such Transaction and or the applicability to it of this Agreement. Absent manifest error, there shall be deemed to be an affirmation and acceptance a presumption that the terms contained in such Confirmation are the terms of such termsthe Transaction.
Appears in 1 contract