In this Agreement, a "netting agreement" means any agreement for the time being in effect between the Parties (and including, without limitation, this Agreement and agreements of the kind listed in Appendix 1 to this Agreement), including such modifications and additions thereto as may be agreed between the ECB and the Counterparty (hereinafter referred to as the Parties) from time to time, which contains provisions to the effect that, should any event of default as defined for the purposes of such agreement occur, there may be an early termination, liquidation, closing-out or acceleration of transactions or obligations under transactions or any analogous event (a "default termination") and the respective obligations of the Parties under such agreement may be combined, aggregated or set-off against each other so as to produce a single net balance payable by one Party to the other.
V tem sporazumu "vzorčni sporazum o neto poravnavi" pomeni katerikoli obstoječi sporazum med strankama (vključujoč, brez izjem, ta sporazum in vse take sporazume, ki so našteti v Dodatku 1 k temu sporazumu), vključno s tistimi spremembami in dodatki, o katerih se lahko občasno dogovorita ECB in sodelujoča stranka (v nadaljevanju "stranki"), ki vsebuje določbe v smislu, da, če pride do kakršnegakoli primera kršitve, ki je opredeljen za namene takšnega sporazuma, obstaja možnost predčasne odpovedi, likvidacije, zaključka ali povezovanja v zvezi z odpovedjo bodisi transakcij bodisi obveznosti v okviru transakcij ("odpoved zaradi kršitve"), in da se lahko ustrezne obveznosti strank v okviru takšnega sporazuma sestavijo, združijo ali poravnajo med strankama tako, da se pripravi samo en poravnalni znesek, ki ga ena stranka plača drugi.