Absence of Litigation - ISDA Provision: Difference between revisions
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== | =={{1992ma}}== | ||
(c) '''Absence of Litigation'''. There is not pending or, to its knowledge, threatened against it or any of its | (c) '''Absence of Litigation'''. There is not pending or, to its knowledge, threatened against it or any of its | ||
Revision as of 16:28, 26 June 2012
1992 ISDA
(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.