Template:ISDA Master Agreement 2002 Designated Event: Difference between revisions

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A “'''Designated''' <br> '''Event'''” with respect to X means that:― <br>
A “'''Designated Event'''” with respect to X means that:―
:(1) X consolidates or amalgamates with, or merges with or into, or transfers all or substantially <br> all its assets (or any substantial part of the assets comprising the business conducted by X as of the <br> date of this {{isdama}}) to, or reorganises, reincorporates or reconstitutes into or as, another <br> entity; <br>(2) any person, related group of persons or entity acquires directly or indirectly the beneficial <br> ownership of (A) equity securities having the power to elect a majority of the board of directors (or <br> its equivalent) of X or (B) any other ownership interest enabling it to exercise control of X; or <br>(3) X effects any substantial change in its capital structure by means of the issuance, <br> incurrence or guarantee of debt or the issuance of (A) preferred stock or other securities convertible <br> into or exchangeable for debt or preferred stock or (B) in the case of entities other than <br> corporations, any other form of ownership interest; or<br>
:(1) X consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets (or any substantial part of the assets comprising the business conducted by X as of the date of this {{isdama}}) to, or reorganises, reincorporates or reconstitutes into or as, another entity;  
:(2) any person, related group of persons or entity acquires directly or indirectly the beneficial ownership of (A) equity securities having the power to elect a majority of the board of directors (or its equivalent) of X or (B) any other ownership interest enabling it to exercise control of X; or  
:(3) X effects any substantial change in its capital structure by means of the issuance, incurrence or guarantee of debt or the issuance of (A) preferred stock or other securities convertible into or exchangeable for debt or preferred stock or (B) in the case of entities other than corporations, any other form of ownership interest; or <br>

Revision as of 16:58, 11 April 2017

A “Designated Event” with respect to X means that:―

(1) X consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets (or any substantial part of the assets comprising the business conducted by X as of the date of this ISDA Master Agreement) to, or reorganises, reincorporates or reconstitutes into or as, another entity;
(2) any person, related group of persons or entity acquires directly or indirectly the beneficial ownership of (A) equity securities having the power to elect a majority of the board of directors (or its equivalent) of X or (B) any other ownership interest enabling it to exercise control of X; or
(3) X effects any substantial change in its capital structure by means of the issuance, incurrence or guarantee of debt or the issuance of (A) preferred stock or other securities convertible into or exchangeable for debt or preferred stock or (B) in the case of entities other than corporations, any other form of ownership interest; or
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