Template:Nutshell 2002 ISDA 5(a)(viii): Difference between revisions

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{{isdaprov|5(a)(viii)}} '''{{isdaprov|Merger Without Assumption}}'''. The party (or a {{isdaprov|Credit Support Provider}}) merges with or transfers or [[all or substantially all its assets]] to another entity and:―
:{{isdaprov|5(a)(viii)}} '''{{isdaprov|Merger Without Assumption}}'''. The party (or a {{isdaprov|Credit Support Provider}}) merges with or transfers or [[all or substantially all]] its assets to another entity and:―
:(1) the resulting entity fails to assume ''all'' the original party’s obligations under this {{isdaprov|Agreement}} or the relevant {{isdaprov|Credit Support Document}}; or
::(1) the resulting entity does not assume ''all'' the original party’s obligations under this {{isdaprov|Agreement}} (or {{isdaprov|Credit Support Document}}); or
:(2) the {{isdaprov|Credit Support Document}} does not extend to the resulting party’s performance under this {{isdaprov|Agreement}}.
::(2) the {{isdaprov|Credit Support Document}} does cover the resulting party’s obligations under this {{isdaprov|Agreement}}.

Latest revision as of 13:28, 2 August 2019

5(a)(viii) Merger Without Assumption. The party (or a Credit Support Provider) merges with or transfers or all or substantially all its assets to another entity and:―
(1) the resulting entity does not assume all the original party’s obligations under this Agreement (or Credit Support Document); or
(2) the Credit Support Document does cover the resulting party’s obligations under this Agreement.