Events of Default (Early Termination Payments) - ISDA Provision: Difference between revisions
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{{ | {{fullanat2|isda|6(e)(i)|2002|6(e)(i)|1992}} | ||
{{nuts|ISDA|6(e)(i)}} | {{nuts|ISDA|6(e)(i)}} | ||
Note the effect of this is that all {{isdaprov|transaction}}s are terminated and the recourse is to a net sum under Section {{isdaprov|6(e)}} of the {{isdama}} - NOT under the {{isdaprov|Transactions}}. Therefore, if your [[credit support]] (particularly [[guarantee]]s or [[LC|letters of credit]]) explicitly references the {{isdaprov|Transaction}}, you may lose any credit support at precisely the point you want to rely on it. Further commentary on the [[Guarantee]] page. | |||
Note the effect of this is that all | |||
{{anat|isda}} | {{anat|isda}} | ||
*[[Guarantee]] | *[[Guarantee]] |