Template:ISDA Master Agreement 1992 Credit Event Upon Merger: Difference between revisions

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“'''{{isda92prov|Credit Event Upon Merger}}'''” has the meaning specified in Section {{isda92prov|5(b)}}. <br>
{{ISDA Master Agreement 1992 5(b)(iv)}}

Latest revision as of 11:18, 29 December 2023

5(b)(iv) Credit Event Upon Merger. If “Credit Event Upon Merger” is specified in the Schedule as applying to the party, such party (“X”), any Credit Support Provider of X or any applicable Specified Entity of X consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to, another entity and such action does not constitute an event described in Section 5(a)(viii) but the creditworthiness of the resulting, surviving or transferee entity is materially weaker than that of X, such Credit Support Provider or such Specified Entity, as the case may be, immediately prior to such action (and, in such event, X or its successor or transferee, as appropriate, will be the Affected Party); or