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Failure to Pay, DUST and Cross Default under the ISDA: Difference between revisions
Failure to Pay, DUST and Cross Default under the ISDA (view source)
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*'''{{isdaprov|DUST}}''' covers trades under other master trading agreements (and distinct {{isdama}}s — unlikely, but not impossible) ''between the same two parties'' | *'''{{isdaprov|DUST}}''' covers trades under other master trading agreements (and distinct {{isdama}}s — unlikely, but not impossible) ''between the same two parties'' | ||
*'''{{isdaprov|Cross Default}}''' covers {{isdaprov|Specified Indebtedness}} (unless you’re odd, that means [[borrowed money]]) between the [[counterparty]] and any [[third party]]. | *'''{{isdaprov|Cross Default}}''' covers {{isdaprov|Specified Indebtedness}} (unless you’re odd, that means [[borrowed money]]) between the [[counterparty]] and any [[third party]]. | ||
{{isdaprov|Failure to Pay}} and {{isdaprov|DUST}} are meant to be mutually exclusive. | |||