From The Jolly Contrarian
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| {{isdacomparison}}
| | #redirect[[Termination Events - ISDA Provision]] |
| {{fullanat2|isda|14 - Termination Event|2002|14 - Termination Event|1992}}
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| =={{tag|A trick for young players}}==
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| '''Best Practice''' Note: Therefore adding any new {{isdaprov|Termination Event}} must ALWAYS be achieved by labelling it a new “'''{{isdaprov|Additional Termination Event}}''' under Section {{isdaprov|5(b)(v)}}, and not a separate event under a new Section {{isdaprov|5(b)(vi)}} etc. If, instead of being expressed as an “{{isdaprov|Additional Termination Event}}”, which is how the ISDA Mechanism is intended to operate, it is set out as a new “5(b)(vi)” it is not designated therefore as any of an “{{isdaprov|Illegality}}”, “{{isdaprov|Tax Event}}”, “{{isdaprov|Tax Event Upon Merger}}”, “{{isdaprov|Credit Event Upon Merger}}” or “{{isdaprov|Additional Termination Event}}”, so therefore, read literally, is not caught by the definition of “{{isdaprov|Termination Event}}” and none of the Termination provisions bite on it.
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| I mention this because we have seen it happen. You can take a “fair, large and liberal view" that what the parties intended was to create an {{isdaprov|ATE}}, but why suffer that anxiety?
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| {{Isdaanatomy}}
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| *{{isdaprov|Additional Termination Event}}
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Latest revision as of 07:46, 23 August 2024