|
|
Line 1: |
Line 1: |
| Those with a keen eye will notice that, but for the title, Section 6(a) of the [[2002 ISDA Master]] is the same as Section 6(s) of the [[1992 ISDA Master]]. | | Those with a keen eye will notice that, but for the title, Section 6(a) of the [[2002 ISDA Master]] is the same as Section 6(s) of the [[1992 ISDA Master]]. |
|
| |
|
| ==Section 6(a) of the {{1992ma}}==
| | {{isdasnap|6(a)}} |
| | |
| (a) ''Right to Terminate Following Event of Default''. If at any time an {{isdaprov|Event of Default}} with respect to
| |
| a party (the “[[Defaulting Party]]”) has occurred and is then continuing, the other party (the “{{isdaprov|Non-defaulting Party}}”)
| |
| may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day
| |
| not earlier than the day such notice is effective as an {{isdaprov|Early Termination Date}} in respect of all outstanding
| |
| {{isdaprov|Transaction}}s. If, however, “{{isdaprov|Automatic Early Termination}}” is specified in the Schedule as applying to a party,
| |
| then an {{isdaprov|Early Termination Date}} in respect of all outstanding Transactions will occur immediately upon the occurrence
| |
| with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent
| |
| analogous thereto, (8), ({{isdaprov|Bankuptcy}}) and as of the time immediately preceding the institution of the relevant
| |
| proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of
| |
| Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).
| |
| | |
| ==Section 6(a) of the {{2002ma}}==
| |
| | |
| (a) ''Right to Terminate Following Event of Default''. If at any time an {{isdaprov|Event of Default}} with respect to
| |
| a party (the “{{isdaprov|Defaulting Party}}”) has occurred and is then continuing, the other party (the “{{isdaprov|Non-defaulting Party}}”)
| |
| may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day
| |
| not earlier than the day such notice is effective as an {{isdaprov|Early Termination Date}} in respect of all outstanding
| |
| {{isdaprov|Transaction}}s. If, however, “{{isdaprov|Automatic Early Termination}}” is specified in the Schedule as applying to a party,
| |
| then an {{isdaprov|Early Termination Date}} in respect of all outstanding Transactions will occur immediately upon the occurrence
| |
| with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent
| |
| analogous thereto, (8), ({{isdaprov|Bankuptcy}}) and as of the time immediately preceding the institution of the relevant
| |
| proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of
| |
| Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).
| |
|
| |
|
| {{isdaanatomy}} | | {{isdaanatomy}} |
| *{{isdaprov|Effect of Designation}} | | *{{isdaprov|Effect of Designation}} |