Specified Condition - NY VM CSA Provision: Difference between revisions
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{{ | {{Manual|MCAN|2016|Specified Condition|Paragraph|Specified Condition|short}} | ||
Latest revision as of 15:53, 7 February 2022
2016 ISDA Credit Support Annex (VM) (New York law)
Paragraph Specified Condition in a Nutshell™ Use at your own risk, campers!
Full text of Paragraph Specified Condition
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Summary
Unique to the New York law CSAs these Specified Conditions are an extra little means of adding still more triggers into your ISDA Master Agreement — as if the Events of Default and Early Termination Events you have laboriously written in aren’t enough.
These Specified Conditions, you might imagine, have a slightly softer pallor as they confer less onerous rights — simply disabling a Secured Party’s right to rehypothecate the Posted Collateral (VM) a Pledgor may have given to it, and things like that.