Absence of Litigation - ISDA Provision: Difference between revisions
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=={{1992ma}}== | =={{1992ma}}== | ||
{{isdaquote|{{isdaprov|3(c)}} '''{{isdaprov|Absence of Litigation}}'''. There is not pending or, to its knowledge, threatened against it or any of its | |||
{{isdaprov|Affiliate}}s any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, | {{isdaprov|Affiliate}}s any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, | ||
agency or official or any arbitrator that is likely to affect the legality, validity or enforceability against it | agency or official or any arbitrator that is likely to affect the legality, validity or enforceability against it | ||
of this Agreement or any {{isdaprov|Credit Support Document}} to which it is a party or its ability to perform its obligations | of this {{isdaprov|Agreement}} or any {{isdaprov|Credit Support Document}} to which it is a party or its ability to perform its obligations | ||
under this Agreement or such Credit Support Document. | under this {{isdaprov|Agreement}} or such {{isdaprov|Credit Support Document}}.|3(c)|2002}} | ||
==Commentary== | ==Commentary== | ||
Reference to {{isdaprov|Affiliate}}s can be controversial, particularly for Hedge Fund Managers. | Reference to {{isdaprov|Affiliate}}s can be controversial, particularly for Hedge Fund Managers. | ||
{{isdaanatomy}} | {{isdaanatomy}} | ||
Revision as of 09:43, 12 July 2012
1992 ISDA
2002 ISDA
3(c) Absence of Litigation. There is not pending or, to its knowledge, threatened against it or any of its
Affiliates any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, agency or official or any arbitrator that is likely to affect the legality, validity or enforceability against it of this Agreement or any Credit Support Document to which it is a party or its ability to perform its obligations under this Agreement or such Credit Support Document.
Commentary
Reference to Affiliates can be controversial, particularly for Hedge Fund Managers.