5.1 Global netting Should a default termination occur , the ECB shall , as soon as is reasonably practicable , take an account of what is due from each party to the other under each netting agreement ( including under Appendix 2 of this Agreement ) in respect of which default termination has occurred and aggregate the sums due from each party to the other under such netting agreements ( including under Appendix 2 of this Agreement ) , in every case in or converted into the base currency , and only the net balance of the account shall be payable by the party owing the larger aggregate sum .
5.1 Global netting Should a default termination occur , the ECB shall , as soon as is reasonably practicable , take an account of what is due from each party to the other under each netting agreement ( including under Appendix 2 of this Agreement ) in respect of which default termination has occurred and aggregate the sums due from each party to the other under such netting agreements ( including under Appendix 2 of this Agreement ) , in every case in or converted into the base currency , and only the net balance of the account shall be payable by the party owing the larger aggregate sum .