Template:Nutshell 2018 CSD 4(a): Difference between revisions

Latest revision as of 08:13, 20 April 2021

4(a) Conditions Precedent. The Chargor’s obligations to transfer under Paragraphs 3 and 5 and the Secured Party’s obligations to instruct transfers under Paragraphs 3, 4(e)(iii), 5 and the provisions requiring the return of zero-Valued Posted Credit Support (IM) are subject to the conditions precedent that:

(ii) No Early Termination Date has been designated for all Covered Transactions (IM) which has not been fully satisfied.

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-{{imcsdprov|4(a)}}	'''{{imcsdprov|Conditions Precedent}}'''. The {{imcsdprov|Chargor}}’s obligations to transfer under Paragraphs {{imcsdprov|3}} and {{imcsdprov|5}} and the {{imcsdprov|Secured Party}}’s obligations to instruct the {{imcsdprov|Custodian (IM)}} to transfer under Paragraphs {{imcsdprov|3}}, {{imcsdprov|4(e)(iii)}}, {{imcsdprov|5}} and the provisions of Paragraph {{imcsdprov|13}} about returning {{imcsdprov|Posted Credit Support (IM)}} with a zero {{imcsdprov|Value}} are subject to the [[conditions precedent]] that:
+{{imcsdprov|4(a)}}	'''{{imcsdprov|Conditions Precedent}}'''. The {{imcsdprov|Chargor}}’s obligations to transfer under Paragraphs {{imcsdprov|3}} and {{imcsdprov|5}} and the {{imcsdprov|Secured Party}}’s obligations to instruct transfers under Paragraphs {{imcsdprov|3}}, {{imcsdprov|4(e)(iii)}}, {{imcsdprov|5}} and the provisions requiring the return of zero-{{imcsdprov|Value}}d {{imcsdprov|Posted Credit Support (IM)}} are subject to the [[conditions precedent]] that:
 :(i)	There is no live {{isdaprov|Event of Default}}, {{isdaprov|Potential Event of Default}} or {{isdaprov|Specified Condition}} for the other party; and <br>
 :(ii)	No {{isdaprov|Early Termination Date}} has been designated for all {{imcsdprov|Covered Transactions (IM)}} which has not been fully satisfied. <br>