Failure to Pay or Deliver - ISDA Provision: Difference between revisions
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Agreement or delivery under Section 2(a)(i) or 2(e) required to be made by it if such failure is not | Agreement or delivery under Section 2(a)(i) or 2(e) required to be made by it if such failure is not | ||
remedied on or before the third Local Business Day after notice of such failure is given to the party; | remedied on or before the third Local Business Day after notice of such failure is given to the party; | ||
Failure to Pay under Section 5(a)(i) if the {{isdama}}: where a party fails to pay or deliver on time and does not remedy on or before the 3rd local business day (being the default under a {{1992ma}}, or the first business day after (under the {{2002ma}}) after notice. This requires: | Failure to Pay under Section 5(a)(i) if the {{isdama}}: where a party fails to pay or deliver on time and does not remedy on or before the 3rd local business day (being the default under a {{1992ma}}, or the first business day after (under the {{2002ma}}) after notice. This requires: |