Template:Nutshell 2002 ISDA 6(e)(iv): Difference between revisions

:{{isdaprov|6(e)(iv)}} '''{{isdaprov|Adjustment for Illegality or Force Majeure Event}}'''. The failure by a party or its {{isdaprov|Credit Support Provider}} to pay an {{isdaprov|Early Termination Amount}} when due will not be a {{isdaprov|Failure to Pay or Deliver}} or a {{isdaprov|Credit Support Default}} if caused by an event or circumstance which amount to an {{isdaprov|Illegality}} or a {{isdaprov|Force Majeure Event}} under a {{isdaprov|Transaction}}. Such a failure will:

:(1) accrue [[interest]] and will be treated as an {{isdaprov|Unpaid Amount}} for a subsequent {{isdaprov|Early Termination Date}} resulting from an {{isdaprov|Event of Default}}, a {{isdaprov|Credit Event Upon Merger}} or an {{isdaprov|Additional Termination Event}} affecting all outstanding {{isdaprov|Transactions}}; and  

:(2) otherwise accrue interest in accordance with Section {{isdaprov|9(h)}}(ii)(2). <br>