Template:Nutshell 2002 ISDA 5(a)(iii): Difference between revisions
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:{{isdaprov|5(a)(iii)}} '''{{isdaprov|Credit Support Default}}'''. <br> | :{{isdaprov|5(a)(iii)}} '''{{isdaprov|Credit Support Default}}'''. <br> | ||
::(1) The party or its {{isdaprov|Credit Support Provider}} defaults under any {{isdaprov|Credit Support Document}}; | ::(1) The party or its {{isdaprov|Credit Support Provider}} defaults under any {{isdaprov|Credit Support Document}} after any [[grace period]] has expired; | ||
::(2) Any {{isdaprov|Credit Support Document}} (or any [[security interest]] granted under one) terminates or becomes ineffective (except according to its terms) while any covered {{isdaprov|Transaction}} without the other party’s written consent; or | ::(2) Any {{isdaprov|Credit Support Document}} (or any [[security interest]] granted under one) terminates or becomes ineffective (except according to its terms) while any covered {{isdaprov|Transaction}} without the other party’s written consent; or | ||
::(3) the party or its {{isdaprov|Credit Support Provider}} [[Repudiate|repudiates]] any obligations under {{isdaprov|Credit Support Document}}; <br> | ::(3) the party or its {{isdaprov|Credit Support Provider}} [[Repudiate|repudiates]] any obligations under {{isdaprov|Credit Support Document}}; <br> | ||
Latest revision as of 17:37, 6 May 2021
- 5(a)(iii) Credit Support Default.
- (1) The party or its Credit Support Provider defaults under any Credit Support Document after any grace period has expired;
- (2) Any Credit Support Document (or any security interest granted under one) terminates or becomes ineffective (except according to its terms) while any covered Transaction without the other party’s written consent; or
- (3) the party or its Credit Support Provider repudiates any obligations under Credit Support Document;