Template:Nutshell 2002 ISDA 5(b)(v): Difference between revisions
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:{{isdaprov|5(b)(v)}} '''{{isdaprov|Credit Event Upon Merger}}'''. If “{{isdaprov|Credit Event Upon Merger}}” applies and it or any of its {{isdaprov|Credit Support Provider}}s or {{isdaprov|Specified Entities}} suffers a {{isdaprov|Designated Event}} (which is not a {{isdaprov|Merger Without Assumption}}) and the relevant entity’s (which will be the {{isdaprov|Affected Party}}) creditworthiness is materially weaker as a result.<br> | :{{isdaprov|5(b)(v)}} '''{{isdaprov|Credit Event Upon Merger}}'''. If “{{isdaprov|Credit Event Upon Merger}}” applies and it or any of its {{isdaprov|Credit Support Provider}}s or {{isdaprov|Specified Entities}} suffers a {{isdaprov|Designated Event}} (which is not a {{isdaprov|Merger Without Assumption}}) and the relevant entity’s (which will be the {{isdaprov|Affected Party}}) creditworthiness is materially weaker as a result.<br> | ||
{{Nutshell 2002 ISDA Designated Event}} | :{{Nutshell 2002 ISDA Designated Event}} | ||
Latest revision as of 13:46, 2 August 2018
- 5(b)(v) Credit Event Upon Merger. If “Credit Event Upon Merger” applies and it or any of its Credit Support Providers or Specified Entities suffers a Designated Event (which is not a Merger Without Assumption) and the relevant entity’s (which will be the Affected Party) creditworthiness is materially weaker as a result.
- A “Designated Event” means that the relevant entity:―
- (1) merges with, or transfers substantially all of its assets into, or reorganises itself as another entity;
- (2) comes under the effective voting control of another entity; or
- (3) makes a substantial change in its capital structure by issuing or guaranteeing debt, equities or analogous interests, or securities convertible into them;