Template:Nutshell 2002 ISDA 5(d): Difference between revisions
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Revision as of 12:14, 6 August 2018
5(d) Deferral of Payments and Deliveries During Waiting Period. If an Illegality or a Force Majeure Event exists for a Transaction, payment and delivery obligations under that Transaction will be deferred until:―
- 5(d)(i) the first Local Business Day ( or for deliveries) the first Local Delivery Day (had there not been an Illegality or Force Majeure Event) following the end of any applicable Waiting Period for event in question; or, if earlier
- 5(d)(ii) the first Local Business Day or Local Delivery Day on which the Illegality or Force Majeure Event does not exist.