82,976
edits
Template:No termination events: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| (2 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
The {{isdama}} is rare amongst the beasts and fowls of the financial services hedgerows in that it has two categories of things that can lead to termination with extreme prejudice: {{isdaprov|Events of Default}} and {{isdaprov|Termination Events}}. | The {{isdama}} is rare amongst the beasts and fowls of the financial services hedgerows in that it has two categories of things that can lead to termination with extreme prejudice: {{isdaprov|Events of Default}} and {{isdaprov|Termination Events}}. | ||
Briefly, {{isdaprov|Events of Default}} are “good night nurse” events — {{isdaprov|Failure to Pay}}, {{isdaprov|Bankruptcy}}, {{isdaprov|Breach of Agreement}}, {{isdaprov|Cross Default}}, {{isdaprov|Credit Support Default}}, {{isdaprov|DUST}} and so on — where it’s all over red rover and by morning time operations folks will be wandering blearily around outside the building clutching [[Iron Mountain]] boxes and kicking themselves for not joining that crypto start up like everyone else in the [[service line]]<ref>Do not get comfortable, [[Cryptobabble|Hodlers]]: your time is coming.</ref> | Briefly, {{isdaprov|Events of Default}} are “good-night, nurse” events — {{isdaprov|Failure to Pay}}, {{isdaprov|Bankruptcy}}, {{isdaprov|Breach of Agreement}}, {{isdaprov|Cross Default}}, {{isdaprov|Credit Support Default}}, {{isdaprov|DUST}} and so on — where it’s all over red rover and by morning time operations folks will be wandering blearily around outside the building clutching [[Iron Mountain]] boxes and kicking themselves for not joining that crypto start up six months ago, like everyone else in the [[service line]] did.<ref>Do not get comfortable, [[Cryptobabble|Hodlers]]: your time is coming.</ref> | ||
{{isdaprov|Termination Events}} are lesser, survivable things that just mean a few {{isdaprov|Transactions}} get scotched, or sometimes all of them, but in any case no reason we can’t pick ourselves up, dust ourselves off and get on with the business of trading again. They may grounds to terminate an {{isdama}} but do not speak to the moral character or unacceptable [[creditworthiness]] of the {{isdaprov|Affected Party}} (so labelled — “affected”, in the sense of “a bit eccentric” — as opposed to a “{{isdaprov|Defaulting Party}}”, who ''is'' such a turpitudinous wretch). | {{isdaprov|Termination Events}} are lesser, survivable things that just mean a few {{isdaprov|Transactions}} get scotched, or sometimes all of them, but in any case no reason we can’t pick ourselves up, dust ourselves off and get on with the business of trading again. They may grounds to terminate an {{isdama}} but do not speak to the moral character or unacceptable [[creditworthiness]] of the {{isdaprov|Affected Party}} (so labelled — “affected”, in the sense of “a bit eccentric” — as opposed to a “{{isdaprov|Defaulting Party}}”, who ''is'' such a turpitudinous wretch). | ||