Template:ISDA Master Agreement 1992 6(b)(iv): Difference between revisions

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Created page with "{{isdaprov|6(b)(iv)}} '''{{isdaprov|Right to Terminate}}'''. If: — :(1) a transfer under Section {{gmslaprov|6(b)(ii)}} or an agreement under Section {{isdaprov|6(b)(iii)}},..."
 
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{{isdaprov|6(b)(iv)}} '''{{isdaprov|Right to Terminate}}'''. If: —
:{{isda92prov|6(b)(iv)}} '''{{isda92prov|Right to Terminate}}'''. If: —
:(1) a transfer under Section {{gmslaprov|6(b)(ii)}} or an agreement under Section {{isdaprov|6(b)(iii)}}, as the case may be, has not been effected with respect to all {{isdaprov|Affected Transaction}}s within 30 days after an {{isdaprov|Affected Party}} gives notice under Section {{isdaprov|6(b)(i)}}; or
::(1) a transfer under Section {{isda92prov|6(b)(ii)}} or an agreement under Section {{isda92prov|6(b)(iii)}}, [[as the case may be]], has not been [[effect]]ed [[with respect to]] all {{isda92prov|Affected Transaction}}s within 30 days after an {{isda92prov|Affected Party}} gives notice under Section {{isda92prov|6(b)(i)}}; or
:(2) an {{isdaprov|Illegality}} under Section {{isdaprov|5(b)(i)}}(2), a {{isdaprov|Credit Event Upon Merger}} or an {{isdaprov|Additional Termination Event}} occurs, or a {{isdaprov|Tax Event Upon Merger}} occurs and the {{isdaprov|Burdened Party}} is not the {{isdaprov|Affected Party}},
::(2) an {{isda92prov|Illegality}} under Section {{isda92prov|5(b)(i)}}(2), a {{isda92prov|Credit Event Upon Merger}} or an {{isda92prov|Additional Termination Event}} occurs, or a {{isda92prov|Tax Event Upon Merger}} occurs and the {{isda92prov|Burdened Party}} is not the {{isda92prov|Affected Party}},
either party in the case of an {{isdaprov|Illegality}}, the {{isdaprov|Burdened Party}} in the case of a {{isdaprov|Tax Event Upon Merger}}, any {{isdaprov|Affected Party}} in the case of a {{isdaprov|Tax Event}} or an {{isdaprov|Additional Termination Event}} if there is more than one {{isdaprov|Affected Party}}, or the party which is not the {{isdaprov|Affected Party}} in the case of a {{isdaprov|Credit Event Upon Merger}} or an {{isdaprov|Additional Termination Event}} if there is only one {{isdaprov|Affected Party}} may, [[By not more than 20 days’ notice|by not more than 20 days notice]] to the other party and provided that the relevant {{isdaprov|Termination Event}} is then continuing, designate a day not earlier than the day such notice is effective as an {{isdaprov|Early Termination Date}} in respect of all {{isdaprov|Affected Transaction}}s. <br>
:either party in the case of an {{isda92prov|Illegality}}, the {{isda92prov|Burdened Party}} in the case of a {{isda92prov|Tax Event Upon Merger}}, any {{isda92prov|Affected Party}} in the case of a {{isda92prov|Tax Event}} or an {{isda92prov|Additional Termination Event}} if there is more than one {{isda92prov|Affected Party}}, or the party which is not the {{isda92prov|Affected Party}} in the case of a {{isda92prov|Credit Event Upon Merger}} or an {{isda92prov|Additional Termination Event}} if there is only one {{isda92prov|Affected Party}} may, [[By not more than 20 days’ notice|by not more than 20 days notice]] to the other party and provided that the relevant {{isda92prov|Termination Event}} is then continuing, designate a day not earlier than the day such notice is effective as an {{isda92prov|Early Termination Date}} in respect of all {{isda92prov|Affected Transaction}}s. <br>

Latest revision as of 18:56, 2 February 2020

6(b)(iv) Right to Terminate. If: —
(1) a transfer under Section 6(b)(ii) or an agreement under Section 6(b)(iii), as the case may be, has not been effected with respect to all Affected Transactions within 30 days after an Affected Party gives notice under Section 6(b)(i); or
(2) an Illegality under Section 5(b)(i)(2), a Credit Event Upon Merger or an Additional Termination Event occurs, or a Tax Event Upon Merger occurs and the Burdened Party is not the Affected Party,
either party in the case of an Illegality, the Burdened Party in the case of a Tax Event Upon Merger, any Affected Party in the case of a Tax Event or an Additional Termination Event if there is more than one Affected Party, or the party which is not the Affected Party in the case of a Credit Event Upon Merger or an Additional Termination Event if there is only one Affected Party may, by not more than 20 days notice to the other party and provided that the relevant Termination Event is then continuing, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all Affected Transactions.
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