Template:Isda 5(a)(v) comp: Difference between revisions

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{{isdaprov|DUST}} has been expanded in five significant ways by the {{2002ma}}:  
{{{{{1}}}|DUST}} has been expanded in five significant ways by the {{2002ma}}:  
*Defaults require the [[acceleration]] of just ''the'' {{isdaprov|Specified Transaction}} in question (for ''general'' defaults) but off ''all'' outstanding transactions under the relevant [[master agreement]] (for ''[[delivery]]'' defaults). This change was made with [[repo]]s and [[stock loan]]s in mind where delivery failures under are common and do not of themselves indicate weakness in the {{isdaprov|Defaulting Party}}’s creditworthiness.  
*Defaults require the [[acceleration]] of just ''the'' {{{{{1}}}|Specified Transaction}} in question (for ''general'' defaults) but off ''all'' outstanding transactions under the relevant [[master agreement]] (for ''[[delivery]]'' defaults). This change was made with [[repo]]s and [[stock loan]]s in mind where delivery failures under are common and do not of themselves indicate weakness in the {{{{{1}}}|Defaulting Party}}’s creditworthiness.  
*{{isdaprov|DUST}} under the {{2002ma}} can be triggered by default under a [[credit support arrangement]] relating to a {{isdaprov|Specified Transaction}}. These weren’t included for the {{1992isda}} {{isda92prov|DUST}}.  
*{{isdaprov|DUST}} under the {{2002ma}} can be triggered by default under a [[credit support arrangement]] relating to a {{isdaprov|Specified Transaction}}. These weren’t included for the {{1992isda}} {{isda92prov|DUST}}.  
*The [[cure period]] for a failure to make a final or early termination payment ona {{isdaprov|Specified Transaction}} has been reduced from three days to one.  
*The [[cure period]] for a failure to make a final or early termination payment ona {{{{{1}}}|Specified Transaction}} has been reduced from three days to one.  
*[[Repudiation]] was modified in two significant ways:  
*[[Repudiation]] was modified in two significant ways:  
:*The phrase “or challenges the validity of” was added after “disaffirms, disclaims, repudiates or rejects” to reduce ambiguity as to whether a party’s action constitutes a repudiation; and  
:*The phrase “or challenges the validity of” was added after “disaffirms, disclaims, repudiates or rejects” to reduce ambiguity as to whether a party’s action constitutes a repudiation; and  
:*A {{isdaprov|Non-Defaulting Party}} must have evidence of the repudiation that is executed and [[delivered]] by the repudiating entity;
:*A {{{{{1}}}|Non-Defaulting Party}} must have evidence of the repudiation that is executed and [[delivered]] by the repudiating entity;
*The “{{isdaprov|Specified Transaction}}” concept has been broadened to include additional {{isdaprov|Transaction}} types such as repos, and to include a catchall clause designed to include any future derivative products that have not been thought of yet.
*The “{{{{{1}}}|Specified Transaction}}” concept has been broadened to include additional transaction types such as repos, and to include a catchall clause designed to include any future derivative products that have not been thought of yet.
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