Template:Nutshell 2002 ISDA 5(a)(viii): Difference between revisions

Latest revision as of 13:28, 2 August 2019

5(a)(viii) Merger Without Assumption. The party (or a Credit Support Provider) merges with or transfers or all or substantially all its assets to another entity and:―

(1) the resulting entity does not assume all the original party’s obligations under this Agreement (or Credit Support Document); or

(2) the Credit Support Document does cover the resulting party’s obligations under this Agreement.

@@ Line 1: / Line 1: @@
-{{isdaprov|5(a)(viii)}} '''{{isdaprov|Merger Without Assumption}}'''. The party (or a {{isdaprov|Credit Support Provider}}) merges with or transfers or [[all or substantially all its assets]] to another entity and:―
+:{{isdaprov|5(a)(viii)}} '''{{isdaprov|Merger Without Assumption}}'''. The party (or a {{isdaprov|Credit Support Provider}}) merges with or transfers or [[all or substantially all]] its assets to another entity and:―
-:(1) the resulting entity fails to assume ''all'' the original party’s obligations under this {{isdaprov|Agreement}} or the relevant {{isdaprov|Credit Support Document}}; or
+::(1) the resulting entity does not assume ''all'' the original party’s obligations under this {{isdaprov|Agreement}} (or {{isdaprov|Credit Support Document}}); or
-:(2) the {{isdaprov|Credit Support Document}} does not extend to the resulting party’s performance under this {{isdaprov|Agreement}}.
+::(2) the {{isdaprov|Credit Support Document}} does cover the resulting party’s obligations under this {{isdaprov|Agreement}}.