Template:Isda 5(b)(v) comp: Difference between revisions

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'''{{{{{1}}}|Credit Event Upon Merger}}''': The {{2002ma}} introduced the concept of the “{{isdaprov|Designated Event}}”, which was an attempt to define more forensically the sorts of corporate events that should be covered by CEUM. They are notoriously difficult to pin down. 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. On the other hand, you could count the number of times an {{isdama}} is closed out purely 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.
{{isdaprov|Designated Event}} is part of the definition of {{isdaprov|Credit Event Upon Merger}} in the {{2002ma}}, and doesn't have an equivalent in the {{1992ma}}.
 
The {{2002ma}} introduced the concept of the “{{isdaprov|Designated Event}}”, which was an attempt to define more forensically the sorts of corporate events that should be covered by CEUM. They are notoriously difficult to pin down. 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. On the other hand, you could count the number of times an {{isdama}} is closed out purely 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 08:12, 23 August 2024

Designated Event is part of the definition of Credit Event Upon Merger in the 2002 ISDA, and doesn't have an equivalent in the 1992 ISDA.

The 2002 ISDA introduced the concept of the “Designated Event”, which was an attempt to define more forensically the sorts of corporate events that should be covered by CEUM. They are notoriously difficult to pin down. 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. On the other hand, you could count the number of times an ISDA Master Agreement is closed out purely 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.

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