Second Method and Loss. If the Second Method and Loss apply, an amount will be payable equal to the Non-defaulting Party's Loss in respect of this Agreement. If that amount is a positive number, the Defaulting Party will pay it to the Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay the absolute value of that amount to the Defaulting Party.
Second Method and Loss. 4. Calculation Agent: JPMorgan, whose calculations and determinations shall be made in good faith and in a commercially reasonable manner, including with respect to calculations and determinations that are made in its sole discretion.
Second Method and Loss. If the amount of a Non-defaulting Party’s Loss is a positive number, the Defaulting Party pays that sum to the Non-defaulting Party but if it is a negative number, the Non-defaulting Party pays the absolute value of that amount to the Defaulting Party. The Non-defaulting Party makes the calculations. An easy way to remember who gets what (particularly under the Second Method) is to view the positive and negative amounts from the Non-default- ing Party’s viewpoint. If the close-out amount is positive, the Non-defaulting Party receives it and could be said to view the situation positively. If the close- out amount is negative, the Non-defaulting Party has to pay it over and so views the situation negatively.
