Failure to Pay or Deliver - ISDA Provision: Difference between revisions
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{{nuts|2002 ISDA|5(a)(i)}} | {{nuts|2002 ISDA|5(a)(i)}} | ||
{{isdaprov|Failure to Pay}} under Section {{isdaprov|5(a)(i)}} if the {{isdama}}: where a party fails to pay or deliver on time and does not remedy before the grace period expires. | {{isdaprov|Failure to Pay}} under Section {{isdaprov|5(a)(i)}} if the {{isdama}}: where a party fails to pay or deliver on time and does not remedy before the grace period expires. | ||
{{failure to pay procedure}} | {{failure to pay procedure}} |
Revision as of 14:30, 21 March 2018
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5(a)(i) in a Nutshell™ (2002 ISDA edition)
- 5(a)(i). Failure to Pay or Deliver. Failure by a party to make any payment or delivery when due under this Agreement which is not remedied by the first Local Business Day or Local Delivery Day after the party receives notice of the failure;
Failure to Pay under Section 5(a)(i) if the ISDA Master Agreement: where a party fails to pay or deliver on time and does not remedy before the grace period expires. JC’s has updated the step-by-step guide to closing out an ISDA and it is now premium content. You can access it here.