Template:Nutshell 2002 ISDA 5(a)(v): Difference between revisions
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:{{isdaprov|5(a)(v)}} '''{{isdaprov|Default Under Specified Transaction}}'''. The party or | :{{isdaprov|5(a)(v)}} '''{{isdaprov|Default Under Specified Transaction}}'''. The party or one of its {{isdaprov|Credit Support Provider}}s or {{isdaprov|Specified Entities}}:― <br> | ||
::(1) defaults on any payment due under a {{isdaprov|Specified Transaction}} (or any related credit support arrangement) and | ::(1) defaults on any payment due under a {{isdaprov|Specified Transaction}} (or any related credit support arrangement) and as a result that {{isdaprov|Specified Transaction}} is validly [[accelerated]]; | ||
::(2) defaults on any final payment due under a {{isdaprov|Specified Transaction}} | ::(2) defaults on any final payment due under a {{isdaprov|Specified Transaction}} after one {{isdaprov|Local Business Day}}; | ||
::(3) defaults on any delivery due under a {{isdaprov|Specified Transaction}} (or any related [[Credit support|credit support arrangement]]) and, all {{isdaprov|Transactions}} under the relevant Master Agreement are validly [[accelerated]] | ::(3) defaults on any delivery due under a {{isdaprov|Specified Transaction}} (or any related [[Credit support|credit support arrangement]]) and, all {{isdaprov|Transactions}} under the relevant Master Agreement are validly [[accelerated]]; or | ||
::(4) repudiates any {{isdaprov|Specified Transaction}} (or any related credit support arrangement); <br> | ::(4) repudiates any {{isdaprov|Specified Transaction}} (or any related credit support arrangement); <br> | ||
Latest revision as of 15:46, 1 July 2021
- 5(a)(v) Default Under Specified Transaction. The party or one of its Credit Support Providers or Specified Entities:―
- (1) defaults on any payment due under a Specified Transaction (or any related credit support arrangement) and as a result that Specified Transaction is validly accelerated;
- (2) defaults on any final payment due under a Specified Transaction after one Local Business Day;
- (3) defaults on any delivery due under a Specified Transaction (or any related credit support arrangement) and, all Transactions under the relevant Master Agreement are validly accelerated; or
- (4) repudiates any Specified Transaction (or any related credit support arrangement);