Template:2014 ISDA Credit Derivatives Definitions 2.17: Difference between revisions

Latest revision as of 19:50, 23 April 2023

Section 2.17 Seniority Level. “Seniority Level” means, with respect to an obligation of the Reference Entity,

(a) “Senior Level” or “Subordinated Level” as specified in the related Confirmation, or

(b) if no such Seniority Level is specified in the related Confirmation, “Senior Level” if the Original Non-Standard Reference Obligation is a Senior Obligation or “Subordinated Level” if the Original Non-Standard Reference Obligation is a Subordinated Obligation, failing which

(c) “Senior Level”.

@@ Line 1: / Line 1: @@
 '''Section {{cddprov|2.17}} {{cddprov|Seniority Level}}'''. “'''{{cddprov|Seniority Level}}'''” means, with respect to an obligation of the {{cddprov|Reference Entity}},
 :(a) “'''{{cddprov|Senior Level}}'''” or “'''{{cddprov|Subordinated Level}}'''” as specified in the related Confirmation, or
-:(b) if no such {{cddprov|Seniority Level}} is specified in the related Confirmation, “'''{{cddprov|Senior Level}}'''” if the Original {{cddprov|Non-Standard Reference Obligation}} is a Senior Obligation or “'''{{cddprov|Subordinated Level}}'''” if the Original {{cddprov|Non-Standard Reference Obligation}} is a Subordinated Obligation, failing which
+:(b) if no such {{cddprov|Seniority Level}} is specified in the related Confirmation, “'''{{cddprov|Senior Level}}'''” if the {{cddprov|Original Non-Standard Reference Obligation}} is a {{cddprov|Senior Obligation}} or “'''{{cddprov|Subordinated Level}}'''” if the {{cddprov|Original Non-Standard Reference Obligation}} is a {{cddprov|Subordinated Obligation}}, failing which
 :(c) “'''{{cddprov|Senior Level}}'''”.<br>