Template:Nutshell 2018 CSD 13(h): Difference between revisions

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{{imcsdprov|13(h)}} “'''{{imcsdprov|Secured Party Rights Event}}'''” means:
{{imcsdprov|13(h)}} “'''{{imcsdprov|Secured Party Rights Event}}'''” means:
:(i) an {{isdaprov|Early Termination Date}} in respect of all {{isdaprov|Transaction}}s happens because of an {{isdaprov|Event of Default}} or {{imcsdprov|Access Condition}} for the {{imcsdprov|Chargor}} [and the {{imcsdprov|Chargor}} has not paid its {{isdaprov|Obligation}}s in full when due]; or<br>
:(i) an {{isdaprov|Early Termination Date}} for all {{isdaprov|Transaction}}s happens because of an {{isdaprov|Event of Default}} or {{imcsdprov|Access Condition}} for the {{imcsdprov|Chargor}} [and the {{imcsdprov|Chargor}} has not paid its {{isdaprov|Obligation}}s in full when due]; or<br>
:(ii) if “{{isdaprov|Failure to Pay Early Termination Amount}}” applies,  
:(ii) if “{{isdaprov|Failure to Pay Early Termination Amount}}” applies, the {{imcsdprov|Chargor}} is suffering an ongoing {{isdaprov|Event of Default}} and its Section {{isdaprov|6(e)}} payment obligation for an {{isdaprov|Early Termination Date}} for all {{isdaprov|Transaction}}s ''[umm something seems to be missing here?]'':  
:the {{imcsdprov|Chargor}} is subject to an ongoing {{isdaprov|Event of Default}} and its Section {{isdaprov|6(e)}} payment obligation for an {{isdaprov|Early Termination Date}} for all {{isdaprov|Transaction}}s ''[umm something seems to be missing here?]'':  


:*{{imcsdprov|Failure to Pay Early Termination Amount}} [applies][does not apply].
{{imcsdprov|Failure to Pay Early Termination Amount}} [applies][does not apply].<br>


:[(iii)] if “'''{{imcsdprov|Control Agreement Secured Party Rights Event}}'''” applies to a party as {{imcsdprov|Chargor}}, a “{{imcsdprov|Secured Party Rights Event}}” will only occur {{imcsdprov|Secured Party}} is contractually entitled to exercise exclusive control of the {{imcsdprov|Posted Credit Support (IM)}} :
:[(iii)] if “'''{{imcsdprov|Control Agreement Secured Party Rights Event}}'''” applies to a {{imcsdprov|Chargor}}, a “{{imcsdprov|Secured Party Rights Event}}” will only occur {{imcsdprov|Secured Party}} is contractually entitled to exercise exclusive control of the {{imcsdprov|Posted Credit Support (IM)}}.
:*{{isdaprov|Party A}} as {{imcsdprov|Chargor}}, {{isdaprov|Party B}} as {{imcsdprov|Secured Party}}: {{imcsdprov|Control Agreement Secured Party Rights Event}} [applies][does not apply].
{{isdaprov|Party A}} as {{imcsdprov|Chargor}}: {{imcsdprov|Control Agreement Secured Party Rights Event}} [applies][does not apply].<br>
:*{{isdaprov|Party B}} as {{imcsdprov|Chargor}} and {{isdaprov|Party A}} as {{imcsdprov|Secured Party}}: {{imcsdprov|Control Agreement Secured Party Rights Event}} is:  [applies][does not apply].
{{isdaprov|Party B}} as {{imcsdprov|Chargor}}: {{imcsdprov|Control Agreement Secured Party Rights Event}} [applies][does not apply].<br>

Latest revision as of 15:40, 18 March 2022

13(h) “Secured Party Rights Event” means:

(i) an Early Termination Date for all Transactions happens because of an Event of Default or Access Condition for the Chargor [and the Chargor has not paid its Obligations in full when due]; or
(ii) if “Failure to Pay Early Termination Amount” applies, the Chargor is suffering an ongoing Event of Default and its Section 6(e) payment obligation for an Early Termination Date for all Transactions [umm something seems to be missing here?]:

Failure to Pay Early Termination Amount [applies][does not apply].

[(iii)] if “Control Agreement Secured Party Rights Event” applies to a Chargor, a “Secured Party Rights Event” will only occur Secured Party is contractually entitled to exercise exclusive control of the Posted Credit Support (IM).

Party A as Chargor: Control Agreement Secured Party Rights Event [applies][does not apply].
Party B as Chargor: Control Agreement Secured Party Rights Event [applies][does not apply].

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