Specified Condition - NY VM CSA Provision: Difference between revisions

Revision as of 18:27, 8 January 2020

In a Nutshell™ Section Specified Condition:

Template:Nutshell 2016 NY CSA Specified Condition view template

2016 NY VM CSA full text of Section Specified Condition:

“Specified Condition” means, with respect to a party, any event specified as such for that party in Paragraph 13.
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Related Agreements
Click here for the text of Section Specified Condition in the 1995 English Law CSA
Click here for the text of Section Specified Condition in the 2016 English Law VM CSA
Click [[{{{3}}} - NY VM CSA Provision|here]] for the text of the equivalent, Section [[{{{3}}} - NY VM CSA Provision|{{{3}}}]] in the 2016 NY Law VM CSA
Comparisons
Template:Csadiff Specified Condition
{{nycsadiff {{{3}}}}}

Resources Full wikitext \| Nutshell wikitext Navigation 1 (Interpretation) \| 2 (Security Interest) \| 3 (Credit Support Obligations) \| 4 ( Conditions Precedent, Transfer Timing, Calculations and Substitutions) \| 5 (Dispute Resolution) \| 6 (Holding and Using Posted Collateral (VM)) \| 7 (Events of Default) \| 8 (Certain Rights and Remedies) \| 9 (Representations) \| 10 (Expenses) \| 11 (Miscellaneous) \| 12 (Definitions) \| 13 (Elections and Variables) Index: Click ᐅ to expand: 2016 NY VM CSA

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Unique to the 2016 NY Law VM CSA these Specified Conditions are an extra little means of adding still more triggers into your ISDA Master Agreement — as if the Events of Default and Early Termination Events you have laboriously written in aren’t enough.

These Specified Conditions, you might imagine, have a slightly softer pallor as they confer less onerous rights — simply disabling a Secured Party’s right to rehypothecate the Posted Collateral (VM) a Pledgor may have given to it.

@@ Line 1: / Line 1: @@
 {{csaanat|Specified Condition|2016ny}}
-Unique to the {{nyvmcsa}} these {{nyvmcsaprov|Special Condition}}s are an extra little means of adding still ''more'' triggers into your {{isdama}} — as if the {{isdaprov|Events of Default}} and {{isdaprov|Early Termination Event}}s you have laboriously written in aren’t enough.
+Unique to the {{nyvmcsa}} these {{nyvmcsaprov|Specified Condition}}s are an extra little means of adding still ''more'' triggers into your {{isdama}} — as if the {{isdaprov|Events of Default}} and {{isdaprov|Early Termination Event}}s you have laboriously written in aren’t enough.
 These {{nyvmcsaprov|Specified Condition}}s, you might imagine, have a slightly softer pallor as they confer less onerous rights — simply disabling a {{nyvmcsaprov|Secured Party}}’s right to [[rehypothecate]] the {{nyvmcsaprov|Posted Collateral (VM)}} a {{nyvmcsaprov|Pledgor}} may have given to it.