From The Jolly Contrarian
Jump to navigation
Jump to search
|
|
| (5 intermediate revisions by the same user not shown) |
| Line 1: |
Line 1: |
| {{isdaanat|6(b)(iii)}}
| | #redirect[[Right to Terminate Following Termination Event - ISDA Provision]] |
| Be careful here: Under the {{1992ma}}, if your {{isdaprov|Failure To Pay}} is also an {{isdaprov|Illegality}} it is treated as an {{isdaprov|Illegality}}: if there are two {{isdaprov|Affected Parties}} you will face a significant delay when closing out. A bit of a {{t|trick for young players}}.
| |
| | |
| ===Differences between {{1992ma}} and {{2002ma}}===
| |
| Note also that reference to {{isdaprov|Illegality}} has been excised from the {{2002ma}} version.
| |
| | |
| They changed this because in practice, it turned out to too be hard to implement a transfer or amendment after an {{isdaprov|Illegality}}. Folks realised that if an {{isdaprov|Illegality}} happens you don’t want to have to wait 30 days to terminate, especially if you can’t rely on {{isdaprov|2(a)(iii)}} to withhold payments in the meantime.
| |
Latest revision as of 17:26, 14 August 2024