Template:Nutshell 2002 ISDA 5(b)(v): Difference between revisions

From The Jolly Contrarian
Jump to navigation Jump to search
Created page with ":{{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 Provid..."
 
No edit summary
 
Line 1: Line 1:
:{{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;