Template:Nutshell 2002 ISDA 5(d): Difference between revisions
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{{isdaprov|5(d)}} '''{{isdaprov|Deferral of Payments and Deliveries During Waiting Period}}'''. If an {{isdaprov|Illegality}} or a {{isdaprov|Force Majeure Event}} exists for a {{isdaprov|Transaction}}, payment and delivery obligations under that {{isdaprov|Transaction}} will be deferred until:― <br> | {{isdaprov|5(d)}} '''{{isdaprov|Deferral of Payments and Deliveries During Waiting Period}}'''. If an {{isdaprov|Illegality}} or a {{isdaprov|Force Majeure Event}} exists for a {{isdaprov|Transaction}}, payment and delivery obligations under that {{isdaprov|Transaction}} will be deferred until:― <br> | ||
:{{isdaprov|5(d)(i)}} the first {{isdaprov|Local Business Day}} (or, for deliveries the first {{isdaprov|Local Delivery Day}}) following the end of | :{{isdaprov|5(d)(i)}} the first {{isdaprov|Local Business Day}} (or, for deliveries, the first {{isdaprov|Local Delivery Day}}) following the end of the {{isdaprov|Waiting Period}} for event in question; or, if earlier:<br> | ||
:{{isdaprov|5(d)(ii)}} the first {{isdaprov|Local Business Day}} or {{isdaprov|Local Delivery Day}} on which the {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}} does not exist. <br> | :{{isdaprov|5(d)(ii)}} the first {{isdaprov|Local Business Day}} or {{isdaprov|Local Delivery Day}} on which the {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}} does not exist. <br> | ||
Latest revision as of 12:18, 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) following the end of the 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.