Template:M comp disc 2002 ISDA 5(b)(v): Difference between revisions
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==={{1992ma}} upgrade=== | ==={{1992ma}} upgrade=== | ||
Even before the {{2002ma}} was published it was common to upgrade the {{1992ma}} formulation to something resembling the glorious concoction that became Section {{isdaprov|5(b)(v)}} of the {{2002ma}}. The 1992 wording is a bit lame, really. | Even before the {{2002ma}} was published it was common to upgrade the {{1992ma}} formulation to something resembling the glorious concoction that became Section {{isdaprov|5(b)(v)}} of the {{2002ma}}. The 1992 wording is a bit lame, really. See the panel below right for a snapshot of the difference | ||
On the other hand, you could count the number of times an {{isdama}} is closed out on account of {{isdaprov|Credit Event Upon Merger}} on the fingers of one hand, even if you had lost all the fingers on that hand to an industrial accident. So — yeah. | On the other hand, you could count the number of times an {{isdama}} is closed out on account of {{isdaprov|Credit Event Upon Merger}} on the fingers of one hand, even if you had lost all the fingers on that hand to an industrial accident. So — yeah. | ||
Revision as of 11:26, 12 April 2020
Numbering Discrepancy: Note the numbering discrepancy in Section 5(b) between the 1992 ISDA and 2002 ISDA. This is caused by a new 5(b)(ii) (Force Majeure Event) in the 2002 ISDA before Tax Event, which is thus shunted from Section 5(b)(ii) (in the 1992 ISDA) to Section 5(b)(iii) (in the 2002 ISDA).
- Section 5(a)(viii) is Merger Without Assumption.
1992 ISDA upgrade
Even before the 2002 ISDA was published it was common to upgrade the 1992 ISDA formulation to something resembling the glorious concoction that became Section 5(b)(v) of the 2002 ISDA. The 1992 wording is a bit lame, really. See the panel below right for a snapshot of the difference
On the other hand, you could count the number of times an ISDA Master Agreement is closed out on account of Credit Event Upon Merger on the fingers of one hand, even if you had lost all the fingers on that hand to an industrial accident. So — yeah.