Definition of Portfolio Hedge Termination Payment


Portfolio Hedge Termination Payment means the amount, if positive, equal to (a) the amount of the payment required to be paid by Merrill Lynch upon the early termination or liquidation of the Portfolio Hedge minus (b) any amounts included in the calculation of the amount specified in clause (a) of this definition owing by Merrill Lynch that have accrued under the Portfolio Hedge prior to but excluding the date of the early termination or liquidation of the Portfolio Hedge but not yet been paid plus (c) any amounts included in the calculation of the amount specified in clause (a) of this definition owing to Merrill Lynch that have accrued (but not yet been paid) under the Portfolio Hedge prior to but excluding the date of the early termination or liquidation of the Portfolio Hedge; and otherwise, zero.
Sample 1