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Line 4: |
| {{isdasnap|2(d)(ii)}} | | {{isdasnap|2(d)(ii)}} |
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| ==Commentary==
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| Observant and diligent scholars will notice that these two clauses are, more or less, identical.
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| Observant and less obedient scholars will remark how much of a pig's ear the ISDA drafting committee can make of drafting a relatively simple concept and, given a once-in-a-decade opportunity to improve its first attempt in the {{1992ma}}, how in 2002 the combined intellectual might of ISDA, its members, friends and relations, and their divers counsel, retinue and entourage, couldn't.
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| This is, therefore, the apex of all possible derivatives drafting. Make you feel great to be alive, doesn't it.
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| But here: let *me* have a go.
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| {{nuts|ISDA|Gross Up}}
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| {{isdaanatomy}} | | {{isdaanatomy}} |
| }} | | }} |