Specified Condition - NY VM CSA Provision: Difference between revisions

Latest revision as of 15:53, 7 February 2022

2016 ISDA Credit Support Annex (VM) (New York law)
A Jolly Contrarian owner’s manual™

Resources and navigation

Resources Wikitext \| Nutshell wikitext Navigation 1 (Interpretation) \| 2 (Security Interest) \| 3 (Credit Support Obligations) \| 4 ( Conditions Precedent, Transfer Timing, Calculations and Substitutions) \| 5 (Dispute Resolution) \| 6 (Holding and Using Posted Collateral (VM)) \| 7 (Events of Default) \| 8 (Certain Rights and Remedies) \| 9 (Representations) \| 10 (Expenses) \| 11 (Miscellaneous) \| 12 (Definitions) \| 13 (Elections and Variables) Index: Click ᐅ to expand: 2016 NY VM CSA

Paragraph Specified Condition in a Nutshell™

Use at your own risk, campers!

Template:Nutshell 2016 NY CSA Specified Condition view template

Full text of Paragraph Specified Condition

“Specified Condition” means, with respect to a party, any event specified as such for that party in Paragraph 13. view template

Related agreements and comparisons

Related Agreements Click here* for the text of Section Specified Condition in the 1994 New York law CSA* Click here* for the text of Section Specified Condition in the 1995 English Law CSA* Click here* for the text of Section Specified Condition in the 2016 English Law VM CSA* Comparisons Template:2nycsadiff Specified Condition Template:Nycsadiff Specified Condition Template:Csadiff Specified Condition

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Unique to the New York law CSAs these Specified Conditions are an extra little means of adding still more triggers into your ISDA Master Agreement — as if the Events of Default and Early Termination Events you have laboriously written in aren’t enough.

These Specified Conditions, you might imagine, have a slightly softer pallor as they confer less onerous rights — simply disabling a Secured Party’s right to rehypothecate the Posted Collateral (VM) a Pledgor may have given to it, and things like that.

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-{{csaanat|Specified Condition|2016ny}}
+{{Manual|MCAN|2016|Specified Condition|Paragraph|Specified Condition|short}}
-Unique to the {{nyvmcsa}} these {{nyvmcsaprov|Special Condition}}s are an extra little means of adding still ''more'' triggers into your {{isdama}} — as if the {{isdaprov|Events of Default}} and {{isdaprov|Early Termination Event}}s you have laboriously written in aren’t enough.
-These {{nyvmcsaprov|Specified Condition}}s, you might imagine, have a slightly softer pallor as they confer less onerous rights — simply disabling a {{nyvmcsaprov|Secured Party}}’s right to [[rehypothecate]] the {{nyvmcsaprov|Posted Collateral (VM)}} a {{nyvmcsaprov|Pledgor}} may have given to it.