Affiliate - ISDA Provision: Difference between revisions

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m Text replace - "1992 ISDA Master Agreement" to "{{1992ma}}"
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==[[1992 ISDA Master]] Agreement==
=={{1992ma}}==
  "'''Affiliate'''" means, subject to the Schedule, in relation to any person, any entity controlled, directly or
  "'''Affiliate'''" means, subject to the Schedule, in relation to any person, any entity controlled, directly or
  indirectly, by the person, any entity that controls, directly or indirectly, the person or any entity directly or
  indirectly, by the person, any entity that controls, directly or indirectly, the person or any entity directly or

Revision as of 20:03, 9 July 2012

1992 ISDA

"Affiliate" means, subject to the Schedule, in relation to any person, any entity controlled, directly or
indirectly, by the person, any entity that controls, directly or indirectly, the person or any entity directly or
indirectly under common control with the person. For this purpose, "control" of any entity or person means
ownership of a majority of the voting power of the entity or person.

Commentary

A potentially wide definition which could include, for example, special purpose vehicles whose shareholding is owned by the same corporate service provider, or separate stand-alone hedge funds managed by the same administrator or investment manager.