Template:Nutshell 2002 ISDA 2(a): Difference between revisions

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{{isdaprov|2(a)}} '''{{isdaprov|General Conditions}}'''.
{{ISDA clausehead|2(a)|}}<br>
:{{isdaprov|2(a)(i)}} Each party must perform its obligations under each {{isdaprov|Transaction}} {{isdaprov|Confirmation}}. <br>
:{{isdaprov|2(a)(i)}} Each party must perform its obligations under each {{isdaprov|Transaction}} {{isdaprov|Confirmation}}. <br>
:{{isdaprov|2(a)(ii)}} Parties must make:
:{{isdaprov|2(a)(ii)}} Parties must make:
::(a) Payments for value the due date, as specified in the {{isdaprov|Confirmation}}, in freely transferable funds and in the regular fashion for making payments in the currency in question.  
::(a) Payments for value the specified due date, in freely transferable funds and in the regular fashion for making payments in the currency in question.  
::(b) Deliveries for receipt on the due date and in the regular fashion for making deliveries of the asset in question. <br>
::(b) [[Delivery - ISDA Provision|Deliveries]] for receipt on the due date and in the regular fashion for making deliveries of the asset in question. <br>
:{{isdaprov|2(a)(iii)}} Each party’s obligations under Section {{isdaprov|2(a)(i)}} are subject to the following [[conditions precedent]]:
{{Nutshell 2002 ISDA 2(a)(iii)}}
::(1) there is no existing {{isdaprov|Event of Default}} or {{isdaprov|Potential Event of Default}} against the other party;
::(2) no Early Termination Date has been designated for the Transaction in question
::(3) each other [[condition precedent]] in this {{isdaprov|Agreement}}. <br>

Latest revision as of 10:57, 7 February 2022

2(a) General Conditions

2(a)(i) Each party must perform its obligations under each Transaction Confirmation.
2(a)(ii) Parties must make:
(a) Payments for value the specified due date, in freely transferable funds and in the regular fashion for making payments in the currency in question.
(b) Deliveries for receipt on the due date and in the regular fashion for making deliveries of the asset in question.
2(a)(iii) Each party’s obligations under each Transaction are conditional upon:
(1) there being no uncured Event of Default or Potential Event of Default against the other party.
(2) no Early Termination Date having been designated for the Transaction.
(3) each other condition precedent in this Agreement being met.
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