§ 7437. Qualified financial contracts. (a) As used in this section:\n (1) "Actual direct compensatory damages" means and includes normal and\nreasonable costs of cover or other reasonable measures of damages\nutilized in the derivatives, securities or other market for the contract\nand agreement claims but does not include punitive or exemplary damages,\ndamages for lost profit or lost opportunity or damages for pain and\nsuffering.\n (2) "Business day" means a day other than a Saturday, a Sunday or any\nday on which either the New York stock exchange or the Federal Reserve\nBank of New York is closed.\n (3) "Commodity contract" means: (A) a contract for the purchase or\nsale of a commodity for future delivery on, or subject to the rules of,\na board of trade or contract market under the Commodity Exchange Act (7\nU.S.C. § 1, et seq.) or a board of trade outside the United States; (B)\nan agreement that is subject to regulation under section 19 of the\nCommodity Exchange Act (7 U.S.C. § 1, et seq.) and that is commonly\nknown to the commodities trade as a margin account, margin contract,\nleverage account or leverage contract; (C) an agreement or transaction\nthat is subject to regulation under section 4c(b) of the Commodity\nExchange Act (7 U.S.C. § 1, et seq.) and that is commonly known to the\ncommodities trade as a commodity option; (D) any combination of the\nagreements or transactions referred to in this paragraph; (E) any option\nto enter into an agreement or transaction referred to in this paragraph;\nor (F) any other contract that is included from time to time as a\ncommodity contract as defined in the Federal Deposit Insurance Act, 12\nU.S.C. § 1821(e)(8)(D).\n (4) "Contractual right" means and includes any right set forth in a\nrule or bylaw of a derivatives clearing organization (as defined in the\nCommodity Exchange Act), a multilateral clearing organization (as\ndefined in the Federal Deposit Insurance Corporation Improvement Act of\n1991), a national securities exchange, a national securities\nassociation, a securities clearing agency, a contract market designated\nunder the Commodity Exchange Act, a derivatives transaction execution\nfacility registered under the Commodity Exchange Act, or a board of\ntrade (as defined in the Commodity Exchange Act) or in a resolution of\nthe governing board thereof and any right, whether or not evidenced in\nwriting, arising under statutory or common law, or under law merchant,\nor by reason of normal business practice.\n (5) "Forward contract" shall have the meaning set forth in the Federal\nDeposit Insurance Act, 12 U.S.C. § 1821(e)(8)(D).\n (6) "Netting agreement" means: (A) a contract or agreement (including\nthe terms and conditions incorporated by reference in such agreement),\nincluding a master agreement (which master agreement, together with all\nschedules, confirmations, definitions and addenda thereto and\ntransactions under any thereof, shall be treated as one netting\nagreement), that documents one or more transactions between the parties\nto the agreement for or involving one or more qualified financial\ncontracts and that provides for the netting, offset, liquidation,\ntermination, acceleration or close out, under or in connection with one\nor more qualified financial contracts or present or future payment or\ndelivery obligations or payment or delivery entitlements thereunder\n(including liquidation or close-out values relating to such obligations\nor entitlements) among the parties to the netting agreement; (B) any\nmaster agreement or bridge agreement for one or more master agreements\ndescribed in subparagraph (A) of this paragraph; or (C) any security\narrangement related to one or more contracts or agreements described in\nsubparagraph (A) or (B) of this paragraph; provided that any contract or\nagreement described in subparagraph (A) or (B) of this paragraph\nrelating to agreements or transactions that are not qualified financial\ncontracts shall be
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