|
|
| Line 1: |
Line 1: |
| Section {{isdaprov|5(a)(vi)}} is amended by deleting “, or becoming capable at such time of being declared,” from subsection (1). | | Section {{isdaprov|5(a)(vi)}} is amended by deleting “, or becoming capable at such time of being declared,” from subsection (1). |
| ----
| |
| ''By way of reminder'':
| |
|
| |
| :{{isdaprov|5(a)(vi)}} '''{{isdaprov|Cross-Default}}'''. If “{{isdaprov|Cross-Default}}” is specified in the {{isdaprov|Schedule}} as applying to the party, the occurrence or existence of:― <br />
| |
| ::(1) a default, [[event of default]] or other similar condition or event ([[however described]]) in respect of such party, any {{isdaprov|Credit Support Provider|Credit Support Provider}} of such party or any [[applicable]] {{isdaprov|Specified Entity|Specified Entity}} of such party under [[one or more]] agreements or instruments relating to {{isdaprov|Specified Indebtedness|Specified Indebtedness}} of any of them ([[individually or collectively]]) where the aggregate principal amount of such agreements or instruments, either [[alone or together]] with the amount, [[if any]], referred to in clause (2) below, is not less than the [[applicable]] {{isdaprov|Threshold Amount|Threshold Amount}} (as specified in the {{isdaprov|Schedule}}) which has resulted in such {{isdaprov|Specified Indebtedness}} becoming{{strike|, or becoming capable at such time of being declared,|}} due and payable under such agreements or instruments before it would otherwise have been due and payable; or
| |
| ::(2) a default by such party, such {{isdaprov|Credit Support Provider}} or such {{isdaprov|Specified Entity}} (individually or collectively) in making [[one or more]] payments under such agreements or instruments on the due date for payment (after giving effect to any applicable notice requirement or [[grace period]]) in an aggregate amount, either [[alone or together]] with the amount, if any, referred to in clause (1) above, of not less than the [[applicable]] {{isdaprov|Threshold Amount}}; <br>
| |
Revision as of 16:51, 4 February 2024
Section 5(a)(vi) is amended by deleting “, or becoming capable at such time of being declared,” from subsection (1).