Credit Event Upon Merger - ISDA Provision: Difference between revisions
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) |
||
Line 8: | Line 8: | ||
===Commentary=== | ===Commentary=== | ||
Note the interplay between this section and Section {{isdaprov|7(a)}} of the {{isdaprov|Transfer}} Section. You should not need to amend Section {{isdaprov|7(a)}} (for example to require equivalence of credit quality of any transferee entity etc because that is managed by {{isdaprov|CEUM}}. | Note the interplay between this section and Section {{isdaprov|7(a)}} of the {{isdaprov|Transfer}} Section. You should not need to amend Section {{isdaprov|7(a)}} (for example to require equivalence of credit quality of any transferee entity etc because that is managed by {{isdaprov|CEUM}}. | ||
Note also the interrelationship between CEUM and the {{isdaprov|Ratings Downgrade}} {{isdaprov|ATE}}. One can be forgiven for feeling a little ambivalent about CEUM because it is either caught by Ratings Downgrade, or where there is no requirement for a general Ratings dDwngrade, insisting on CEUM seems a bit arbitrary (i.e. why do we care about a downgrade as a result of a merger, but not any other downgrade?) | |||
{{isdaanatomy}} | {{isdaanatomy}} |