Template:2014 ISDA Credit Derivatives Definitions 1: Difference between revisions

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'''Section {{cddprov|1.28}} {{cddprov|DC Credit Event Announcement}}'''. “'''{{cddprov|DC Credit Event Announcement}}'''” means, with respect to the {{cddprov|Reference Entity}}, a public announcement by the {{cddprov|DC Secretary}} that the relevant {{cddprov|Credit Derivatives Determinations Committee}} has {{cddprov|Resolved}} that an event that constitutes a {{cddprov|Credit Event}} for purposes of the {{cddprov|Credit Derivative Transaction}} has occurred on or after the {{cddprov|Credit Event Backstop Date}} and on or prior to the Extension Date, provided that if the {{cddprov|Credit Event}} occurred after the {{cddprov|Scheduled Termination Date}}, the {{cddprov|DC Credit Event Announcement}}must relate to the relevant Potential {{cddprov|Failure to Pay}}, in the case of a {{cddprov|Grace Period Extension Date}}, or the relevant {{cddprov|Potential Repudiation/Moratorium}}, in the case of a {{cddprov|Repudiation/Moratorium Evaluation Date}}.<br>
'''Section {{cddprov|1.29}} {{cddprov|DC No Credit Event Announcement}}'''. “'''{{cddprov|DC No Credit Event Announcement}}'''” means, with respect to the {{cddprov|Reference Entity}}, a public announcement by the {{cddprov|DC Secretary}} that the relevant {{cddprov|Credit Derivatives Determinations Committee}} has {{cddprov|Resolved}} that an event that is the subject of a {{cddprov|DC Credit Event Question}} does not constitute a {{cddprov|Credit Event}} for purposes of the {{cddprov|Credit Derivative Transaction}}.<br>
'''Section {{cddprov|1.30}} {{cddprov|Credit Event Resolution Request Date}}'''. “'''{{cddprov|Credit Event Resolution Request Date}}'''” means, with respect to a DC {{cddprov|Credit Event}} Question, the date as publicly announced by the {{cddprov|DC Secretary}} that the relevant {{cddprov|Credit Derivatives Determinations Committee}} {{cddprov|Resolves}} to be the date on which the {{cddprov|DC Credit Event Question}} was effective and on which the relevant {{cddprov|Credit Derivatives Determinations Committee}} was in possession of {{cddprov|Publicly Available Information}} with respect to such DC {{cddprov|Credit Event}} Question.<br>
'''Section {{cddprov|1.31}} {{cddprov|M(M)R Restructuring}}'''. “'''{{cddprov|M(M)R Restructuring}}'''” means a {{cddprov|Restructuring}} {{cddprov|Credit Event}} in respect of which either “'''{{cddprov|Mod R}}'''” or “'''{{cddprov|Mod Mod R}}'''” is specified as applicable in the related Confirmation.<br>
'''Section {{cddprov|1.32}} {{cddprov|Credit Event Notice}}'''. “'''{{cddprov|Credit Event Notice}}'''” means an irrevocable notice from a {{cddprov|Notifying Party}} to the other party that describes a {{cddprov|Credit Event}} that occurred on or after the {{cddprov|Credit Event Backstop Date}} and on or prior to the Extension Date.<br>
Any {{cddprov|Credit Event Notice}} that describes a {{cddprov|Credit Event}} that occurred after the {{cddprov|Scheduled Termination Date}} must relate to the relevant Potential {{cddprov|Failure to Pay}}, in the case of a {{cddprov|Grace Period Extension Date}}, or the relevant {{cddprov|Potential Repudiation/Moratorium}}, in the case of a {{cddprov|Repudiation/Moratorium Evaluation Date}}. A {{cddprov|Credit Event Notice}} that describes a {{cddprov|Credit Event}} other than an {{cddprov|M(M)R Restructuring}}} must be in respect of the full {{cddprov|Floating Rate Payer Calculation Amount}}. A {{cddprov|Credit Event Notice}} must contain a description in reasonable detail of the facts relevant to the determination that a {{cddprov|Credit Event}} has occurred. The {{cddprov|Credit Event}} that is the subject of the {{cddprov|Credit Event Notice}} need not be continuing on the date the {{cddprov|Credit Event Notice}} is effective. A form of {{cddprov|Credit Event Notice}} is set forth in Exhibit B.<br>
'''Section {{cddprov|1.33}} {{cddprov|Credit Event Notice}} after {{cddprov|M(M)R Restructuring}}'''. Upon the occurrence of an {{cddprov|M(M)R Restructuring}}:<br>
:(a) a {{cddprov|Notifying Party}} may deliver multiple {{cddprov|Credit Event Notice}}s with respect to such {{cddprov|M(M)R Restructuring}}, each such {{cddprov|Credit Event Notice}} setting forth the amount of the {{cddprov|Floating Rate Payer Calculation Amount}} to which such {{cddprov|Credit Event Notice}} applies (the “'''{{cddprov|Exercise Amount}}'''”), provided that if the {{cddprov|Credit Event Notice}} does not specify an Exercise Amount, the full {{cddprov|Floating Rate Payer Calculation Amount}} will be deemed to have been specified as the Exercise Amount;<br>
:(b) if the {{cddprov|Notifying Party}} has delivered a {{cddprov|Credit Event Notice}} that specifies an Exercise Amount that is less than the {{cddprov|Floating Rate Payer Calculation Amount}}, the rights and obligations of the parties shall, with effect from the date such {{cddprov|Credit Event Notice}} is effective, be construed as if the parties had entered into two {{cddprov|Credit Derivative Transaction}}s, one of which has a {{cddprov|Floating Rate Payer Calculation Amount}} equal to the Exercise Amount and, upon the occurrence of an {{cddprov|Event Determination Date}}, will be settled in accordance with the applicable {{cddprov|Settlement Method}} or {{cddprov|Fallback Settlement Method}}, as applicable, and the other of which will have a {{cddprov|Floating Rate Payer Calculation Amount}} equal to the {{cddprov|Floating Rate Payer Calculation Amount}} outstanding prior to such {{cddprov|Credit Event Notice}} minus the Exercise Amount and will continue in effect with such modifications as the {{cddprov|Calculation Agent}} (in consultation with the parties) shall determine are required in order to preserve the economic effects of the two {{cddprov|Credit Derivative Transaction}}s (considered in aggregate); and<br>
:(c) the Exercise Amount in connection with a {{cddprov|Credit Event Notice}} describing an {{cddprov|M(M)R Restructuring}}} must be an amount that is at least 1,000,000 units of the currency (or, if Japanese Yen, 100,000,000 units) in which the {{cddprov|Floating Rate Payer Calculation Amount}} is denominated and an integral multiple thereof or the entire {{cddprov|Floating Rate Payer Calculation Amount}}.<br>
'''Section {{cddprov|1.34}} Notice of Publicly Available Information'''. “'''{{cddprov|Notice of Publicly Available Information}}'''” means an irrevocable notice from the {{cddprov|Notifying Party}} to the other party that cites {{cddprov|Publicly Available Information}} confirming the occurrence of the {{cddprov|Credit Event}} or {{cddprov|Potential Repudiation/Moratorium}}, as applicable, described in the {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}}. The notice given must contain a copy, or a description in reasonable detail, of the relevant Publicly Available Information. If “'''{{cddprov|Notice of Publicly Available Information}}'''” is applicable to a {{cddprov|Credit Derivative Transaction}} and the {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}}, as applicable, contains Publicly Available Information, such {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}} will also be deemed to be a Notice of Publicly Available Information. A form of {{cddprov|Notice of Publicly Available Information}} (which may be a part of the form of {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}}) is set forth in Exhibits B and D.<br>
'''Section {{cddprov|1.35}} Publicly Available Information'''.<br>
:(a) “'''{{cddprov|Publicly Available Information}}'''” means information that reasonably confirms any of the facts relevant to the determination that the {{cddprov|Credit Event}} or {{cddprov|Potential Repudiation/Moratorium}}, as applicable, described in a {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}} have occurred and which:<br>
::(i) has been published in or on not less than the {{cddprov|Specified Number}} of {{cddprov|Public Source}}s (regardless of whether the reader or user thereof pays a fee to obtain such information);<br>
::(ii) is information received from or published by (A) the {{cddprov|Reference Entity}} (or, if the {{cddprov|Reference Entity}} is a Sovereign, any agency, instrumentality, ministry, department or other authority thereof acting in a governmental capacity (including, without limiting the foregoing, the central bank) of such Sovereign), or (B) a trustee, fiscal agent, administrative agent, clearing agent, paying agent, facility agent or agent bank for an Obligation; or<br>
::(iii) is information contained in any order, decree, notice, petition or filing, however described, of or filed with a court, tribunal, exchange, regulatory authority or similar administrative, regulatory or judicial body,<br>
:provided that where any information of the type described in Sections {{cddprov|1.35}}(a)(ii) or (iii) is not publicly available, it can only constitute {{cddprov|Publicly Available Information}} if it can be made public without violating any law, agreement, understanding or other restriction regarding the confidentiality of such information.<br>
:(b) In relation to any information of the type described in Sections {{cddprov|1.35}}(a)(ii) or (iii), the party receiving such information may assume that such information has been disclosed to it without violating any law, agreement, understanding or other restriction regarding the confidentiality of such information and that the party delivering such information has not taken any action or entered into any agreement or understanding with the {{cddprov|Reference Entity}} or any Affiliate of the {{cddprov|Reference Entity}} that would be breached by, or would prevent, the disclosure of such information to the party receiving such information.<br>
:(c) Without limitation, {{cddprov|Publicly Available Information}} need not state (i) in relation to Section {{cddprov|3.28}} ({{cddprov|Downstream Affiliate}}), the percentage of Voting Shares owned by the {{cddprov|Reference Entity}} and (ii) that the relevant occurrence (A) has met the {{cddprov|Payment Requirement}} or {{cddprov|Default Requirement}}, (B) is the result of exceeding any applicable Grace Period, or (C) has met the subjective criteria specified in certain {{cddprov|Credit Event}}s.<br>
:(d) In relation to a {{cddprov|Repudiation/Moratorium}} {{cddprov|Credit Event}}, {{cddprov|Publicly Available Information}} must relate to the events described in both Sections {{cddprov|4.6}}(a)(i) and (ii) ({{cddprov|Repudiation/Moratorium}}).<br>
'''Section {{cddprov|1.36}} Public Source'''. “'''{{cddprov|Public Source}}'''” means each source of {{cddprov|Publicly Available Information}} specified as such in the related {{cddprov|Confirmation}} (or, if no such source is specified, each of Bloomberg , Reuters, Dow Jones Newswires, The Wall Street Journal, The New York Times, Nihon Keizai Shimbun, Asahi Shimbun, Yomiuri Shimbun, Financial Times, La Tribune, Les Echos, The Australian Financial Review and Debtwire (and successor publications), the main source(s) of business news in the country in which the {{cddprov|Reference Entity}} is organized and any other internationally recognized published or electronically displayed news sources).<br>
'''Section {{cddprov|1.37}} Specified Number'''. “'''{{cddprov|Specified Number}}'''” means the number of {{cddprov|Public Source}}s specified in the related {{cddprov|Confirmation}} (or, if no such number is specified, two).<br>
'''Section {{cddprov|1.38}} Requirements Regarding Notices'''.<br>
:(a) Any notice or other communication given by one party to any other party must be in writing (including by facsimile or email) or by telephone, and will be subject to the requirements set forth in Section {{cddprov|1.38}}.<br>
:(b) A notice delivered on or prior to 4:00 p.m. ({{cddprov|Calculation Agent}} City time) on a {{cddprov|Calculation Agent City Business Day}} will be effective on such {{cddprov|Calculation Agent City Business Day}}. A notice delivered after 4:00 p.m. ({{cddprov|Calculation Agent}} City time) on a {{cddprov|Calculation Agent City Business Day}} will be deemed effective on the next following {{cddprov|Calculation Agent City Business Day}}, regardless of the form in which it is delivered.<br>
:(c) For purposes of Section {{cddprov|1.38}}(b), a notice given by telephone will be deemed to have been delivered at the time the telephone conversation takes place. If the notice is delivered by telephone, a written {{cddprov|Confirmation}} of such notice will be executed and delivered confirming the substance of such notice within one {{cddprov|Calculation Agent City Business Day}} of such notice. Failure to provide a written {{cddprov|Confirmation}} shall not affect the effectiveness of a notice given by telephone.<br>
:(d) If the {{cddprov|Calculation Agent}} is not a party to the {{cddprov|Credit Derivative Transaction}}, any notice required to be delivered by a party to the other party shall also be delivered to the {{cddprov|Calculation Agent}} . Failure to deliver a notice to the {{cddprov|Calculation Agent}} in such circumstances shall not affect the effectiveness of a notice delivered to the other party.<br>
'''Section {{cddprov|1.39}} {{cddprov|Credit Event}} Backstop Date'''. “'''{{cddprov|Credit Event Backstop Date}}'''” means (a) for purposes of any event that constitutes a {{cddprov|Credit Event}} for purposes of the {{cddprov|Credit Derivative Transaction}} (or with respect to a {{cddprov|Repudiation/Moratorium}}, if applicable, the event described in Section {{cddprov|4.6}}(a)(ii) ({{cddprov|Repudiation/Moratorium}})), as determined by {{cddprov|DC Resolution}}, the date that is sixty calendar days prior to the {{cddprov|Credit Event Resolution Request Date}}, or (b) otherwise, the date that is sixty calendar days prior to the earlier of (i) the Notice {{cddprov|Delivery Date}}, if the {{cddprov|Notice Delivery Date}} occurs during the {{cddprov|Notice Delivery Period}} and (ii) the {{cddprov|Credit Event Resolution Request Date}}, if the {{cddprov|Notice Delivery Date}} occurs during the {{cddprov|Post Dismissal Additional Period}}. The {{cddprov|Credit Event Backstop Date}} shall not be subject to adjustment in accordance with any {{cddprov|Business Day Convention}}.<br>
'''Section {{cddprov|1.40}} Extension Date'''. “'''{{cddprov|Extension Date}}'''” means the latest of (a) the {{cddprov|Scheduled Termination Date}}, (b) the {{cddprov|Grace Period Extension Date}} if (i) “'''{{cddprov|Failure to Pay}}'''” and “'''{{cddprov|Grace Period Extension}}'''” are specified as applicable in the related {{cddprov|Confirmation}} and (ii) the {{cddprov|Potential Failure to Pay}} with respect to the relevant {{cddprov|Failure to Pay}} occurs on or prior to the {{cddprov|Scheduled Termination Date}} and ( c) the {{cddprov|Repudiation/Moratorium Evaluation Date}} (if any) if “'''{{cddprov|Repudiation/Moratorium}}'''” is specified as applicable in the related Confirmation, as applicable.<br>
'''Section {{cddprov|1.41}} Exercise Cut'''-off Date. “'''{{cddprov|Exercise Cut-off Date}}'''” means either:<br>
:(a) with respect to an {{cddprov|M(M)R Restructuring}}} and a {{cddprov|Credit Derivative Transaction}} to which Section {{cddprov|1.16}}(a) (Event Determination Date) applies:<br>
::(i) if the {{cddprov|DC Secretary}} publishes a {{cddprov|Final List}} applicable to the {{cddprov|Transaction Auction Settlement Terms}} and/or {{cddprov|Parallel Auction Settlement Terms}}, the date that is (A) two {{cddprov|Relevant City Business Day}}s, if the {{cddprov|Credit Event Notice}} is delivered by {{cddprov|Seller}}, or (B) five {{cddprov|Relevant City Business Day}}s, if the {{cddprov|Credit Event Notice}} is delivered by Buyer, in each case following the date on which such {{cddprov|Final List}} is published; provided that if {{cddprov|Seller}} delivers a {{cddprov|Credit Event Notice}} on or prior to the {{cddprov|Exercise Cut-off Date}} applicable to {{cddprov|Seller}} and {{cddprov|Buyer}} delivers a {{cddprov|Credit Event Notice}} on or prior to the {{cddprov|Exercise Cut-off Date}} applicable to Buyer, the {{cddprov|Credit Event Notice}} delivered by {{cddprov|Seller}} on or prior to the {{cddprov|Exercise Cut-off Date}} applicable to {{cddprov|Seller}} shall prevail; or<br>
::(ii) otherwise, the date that is fourteen calendar days following the relevant {{cddprov|No Auction Announcement Date}}; or<br>
:(b) with respect to a {{cddprov|Credit Event}} and a {{cddprov|Credit Derivative Transaction}} to which Section {{cddprov|1.16}}(a) (Event Determination Date) does not apply, the {{cddprov|Non-Standard Exercise Cut-off Date}}determined in accordance with Section {{cddprov|14.2}} ({{cddprov|Non-Standard Exercise Cut-off Date}});<br>
or, in each case, such other date as the relevant {{cddprov|Credit Derivatives Determinations Committee}} Resolves.<br>
'''Section {{cddprov|1.42}} {{cddprov|Relevant City Business Day}}'''. “'''{{cddprov|Relevant City Business Day}}'''” has the meaning given to that term in the {{cddprov|DC Rules}}.<br>
'''Section {{cddprov|1.43}} {{cddprov|Calculation Agent}} City'''. “'''{{cddprov|Calculation Agent City}}'''” means the city specified as such in the related {{cddprov|Confirmation}} or, if a city is not so specified, the city in which the office through which the {{cddprov|Calculation Agent}} is acting for purposes of the {{cddprov|Credit Derivative Transaction}} is located.<br>
'''Section {{cddprov|1.44}} {{cddprov|Calculation Agent City Business Day}}'''. “'''{{cddprov|Calculation Agent City Business Day}}'''” means a day on which commercial banks and foreign exchange markets are generally open to settle payments in the {{cddprov|Calculation Agent}} City.<br>
'''Section {{cddprov|1.45}} Grace Period Extension Date'''. “'''{{cddprov|Grace Period Extension Date}}'''” means, if (a) “'''{{cddprov|Grace Period Extension}}'''” is specified as applicable in the related {{cddprov|Confirmation}} and (b) a {{cddprov|Potential Failure to Pay}} occurs on or prior to the {{cddprov|Scheduled Termination Date}} , the date that is the number of days in the Grace Period after the date of such Potential {{cddprov|Failure to Pay}}. If “'''{{cddprov|Grace Period Extension}}'''” is not specified as applicable in the related Confirmation, Grace Period Extension shall not apply to the relevant {{cddprov|Credit Derivative Transaction}}.<br>
'''Section {{cddprov|1.46}} Grace Period'''. “'''{{cddprov|Grace Period}}'''” means:<br>
:(a) subject to Sections {{cddprov|1.46}}(b) and (c), the applicable grace period with respect to payments under and in accordance with the terms of such Obligation in effect as of the date as of which such Obligation is issued or incurred;<br>
:(b) if “'''{{cddprov|Grace Period Extension}}'''” is specified as applicable in the related Confirmation, a {{cddprov|Potential Failure to Pay}} has occurred on or prior to the {{cddprov|Scheduled Termination Date}} and the applicable grace period cannot, by its terms, expire on or prior to the {{cddprov|Scheduled Termination Date}} , the {{cddprov|Grace Period}}will be deemed to be the lesser of such grace period and the period specified as such in the related {{cddprov|Confirmation}} or, if no period is specified, thirty calendar days; and<br>
:(c) if, as of the date as of which an Obligation is issued or incurred, no grace period with respect to payments or a grace period with respect to payments of less than three {{cddprov|Grace Period Business Day}}s is applicable under the terms of such Obligation, a {{cddprov|Grace Period}}of three {{cddprov|Grace Period Business Day}}s shall be deemed to apply to such Obligation; provided that, unless “'''{{cddprov|Grace Period Extension}}'''” is specified as applicable in the related Confirmation, such deemed {{cddprov|Grace Period}}shall expire no later than the {{cddprov|Scheduled Termination Date}}.<br>
'''Section {{cddprov|1.47}} Grace Period {{cddprov|Business Day}}'''. “'''{{cddprov|Grace Period Business Day}}'''” means a day on which commercial banks and foreign exchange markets are generally open to settle payments in the place or places and on the days specified for that purpose in the relevant Obligation or, if a place or places are not so specified, (a) if the {{cddprov|Obligation Currency}} is the euro, a {{cddprov|TARGET Settlement Day}}, or (b) otherwise, a day on which commercial banks and foreign exchange markets are generally open to settle payments in the principal financial city in the jurisdiction of the {{cddprov|Obligation Currency}}.<br>
'''Section {{cddprov|1.48}} Potential {{cddprov|Failure to Pay}}'''. “'''{{cddprov|Potential Failure to Pay}}'''” means the failure by the {{cddprov|Reference Entity}} to make, when and where due, any payments in an aggregate amount of not less than the {{cddprov|Payment Requirement}} under one or more Obligations in accordance with the terms of such Obligations at the time of such failure, without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Obligations.<br>
'''Section {{cddprov|1.49}} Provisions Relating to Timing'''. Subject to Sections {{cddprov|1.38}} (Requirements Regarding Notices) and {{cddprov|1.50}} (Payment Timing), in order to determine the day on which an event occurs for purposes of the Definitions, the demarcation of days shall be made by reference to Greenwich Mean Time (or, if the Transaction Type of the {{cddprov|Reference Entity}} relates to Japan, Tokyo time), irrespective of the time zone in which such event occurred. Any event occurring at midnight shall be deemed to have occurred immediately prior to midnight.<br>
'''Section {{cddprov|1.50}} Payment Timing'''. Notwithstanding Sections {{cddprov|1.32}} ({{cddprov|Credit Event Notice}}) and {{cddprov|1.49}} (Provisions Relating to Timing), if a payment is not made by the {{cddprov|Reference Entity}} on its due date or, as the case may be, on the final day of the relevant Grace Period, then such failure to make a payment shall be deemed to have occurred on such day prior to midnight Greenwich Mean Time (or, if the Transaction Type of the {{cddprov|Reference Entity}} relates to Japan, Tokyo time), irrespective of the time zone of its place of payment.<br>
'''Section {{cddprov|1.51}} {{cddprov|Business Day}}'''. “'''{{cddprov|Business Day}}'''” means (a)(i) a day on which commercial banks and foreign exchange markets are generally open to settle payments in the place or places and on the days specified for that purpose in the relevant Confirmation, and/or (ii) a {{cddprov|TARGET Settlement Day}} (if “'''{{cddprov|TARGET}}'''” or “'''{{cddprov|TARGET Settlement Day}}'''” is specified in the related Confirmation), or (b) if a place or places or such terms are not so specified, (i) if the {{cddprov|Floating Rate Payer Calculation Amount}} is denominated in the euro, a {{cddprov|TARGET Settlement Day}}, or (ii) otherwise, a day on which commercial banks and foreign exchange markets are generally open to settle payments in the principal financial city in the jurisdiction of the currency of denomination of the {{cddprov|Floating Rate Payer Calculation Amount}}.<br>
'''Section {{cddprov|1.52}} {{cddprov|TARGET Settlement Day}}'''. “'''{{cddprov|TARGET Settlement Day}}'''” means any day on which TARGET2 (the Trans-European Automated Real-time Gross settlement Express Transfer system) is open.<br>
'''Section {{cddprov|1.53}} {{cddprov|Business Day Convention}}'''.<br>
:(a) “'''{{cddprov|Business Day Convention}}'''” means the convention for adjusting any relevant date if it would otherwise fall on a day that is not a {{cddprov|Business Day}}. The following terms, when used in conjunction with the term “'''{{cddprov|Business Day Convention}}'''” and a date, shall mean that an adjustment will be made if that date would otherwise fall on a day that is not a {{cddprov|Business Day}} so that:<br>
::(i) if “'''{{cddprov|Following}}'''” is specified as applicable in the related Confirmation, that date will be the first following day that is a {{cddprov|Business Day}};<br>
::(ii) if “'''{{cddprov|Modified Following}}'''” or “'''{{cddprov|Modified}}'''” is specified as applicable in the related Confirmation, that date will be the first following day that is a {{cddprov|Business Day}} unless that day falls in the next calendar month, in which case that date will be the first preceding day that is a {{cddprov|Business Day}}; and<br>
::(iii) if “'''{{cddprov|Preceding}}'''” is specified as applicable in the related Confirmation, that date will be the first preceding day that is a {{cddprov|Business Day}}.<br>
:(b) Subject to Sections {{cddprov|1.14}} ({{cddprov|Scheduled Termination Date}}), {{cddprov|1.39}} ({{cddprov|Credit Event}} Backstop Date), {{cddprov|2.2}}(k) (Provisions for Determining a Successor), {{cddprov|3.33}}(a) (General Terms Relating to Mod R and Mod Mod R) and {{cddprov|12.10}} (Effective Date), the {{cddprov|Business Day Convention}} applicable to a date that is specified in the relevant {{cddprov|Confirmation}} to be subject to adjustment in accordance with an applicable {{cddprov|Business Day Convention}} shall be the {{cddprov|Business Day Convention}} specified for that date in that {{cddprov|Confirmation}} or, if a {{cddprov|Business Day Convention}} is not so specified for that date but a {{cddprov|Business Day Convention}} is generally otherwise specified in that Confirmation, the {{cddprov|Business Day Convention}} shall be the {{cddprov|Business Day Convention}} so specified in such {{cddprov|Confirmation}} and, if a {{cddprov|Business Day Convention}} is not specified for that date or generally in that Confirmation, the Following {{cddprov|Business Day Convention}} shall apply to that date.<br>
:(c) If the last day of any period calculated by reference to calendar days falls on a day that is not a {{cddprov|Business Day}}, such last day shall be subject to adjustment in accordance with the applicable {{cddprov|Business Day Convention}}; provided that if the last day of any period is the {{cddprov|Credit Event Backstop Date}} or the {{cddprov|Successor Backstop Date}}, such last day shall not be subject to any adjustment in accordance with any {{cddprov|Business Day Convention}}.<br>
'''Section {{cddprov|1.54}} Final List'''. “'''{{cddprov|Final List}}'''” has the meaning given to that term in the {{cddprov|DC Rules}}.<br>
'''Section {{cddprov|1.55}}.''' 2002 ISDA Master Agreement. The terms “'''{{cddprov|Additional Termination Event}}'''”, “'''{{cddprov|Affected Party}}'''”, “'''{{cddprov|Affected Transaction}}'''”, “'''{{cddprov|Affiliate}}'''”, “'''{{cddprov|Close-out Amount}}'''”, “'''{{cddprov|Stamp Tax}}'''” and “'''{{cddprov|Tax}}'''” shall have the meanings given to those terms in the standard form 2002 ISDA Master Agreement (the “'''{{cddprov|2002 ISDA Master Agreement}}'''”).<br>