Breach of Agreement - ISDA Provision: Difference between revisions
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A failure to {{isdaprov|Furnish Specified Information}} — ie those {{isdaprov|documents for delivery}} specified in {{isdaprov|Part 3}} of the {{isdama}}, adverted to in Section {{isdaprov|4(a)(ii)}} ''will'' therefore be an {{isdaprov|Event of Default}}, although you have to navigate a needlessly tortured string of clause cross references and [[double negative|double negatives]] to settle upon this conclusion. | A failure to {{isdaprov|Furnish Specified Information}} — ie those {{isdaprov|documents for delivery}} specified in {{isdaprov|Part 3}} of the {{isdama}}, adverted to in Section {{isdaprov|4(a)(ii)}} ''will'' therefore be an {{isdaprov|Event of Default}}, although you have to navigate a needlessly tortured string of clause cross references and [[double negative|double negatives]] to settle upon this conclusion. | ||
===Differences=== | ===Differences=== | ||
Note the addition of {{isdaprov|Repudiation of Agreement}} to the {{2002ma}}. You don't really need to define repudiation as a breach justifying termination of a contract, because ''[[ | Note the addition of {{isdaprov|Repudiation of Agreement}} to the {{2002ma}}. You don't really need to define repudiation as a breach justifying termination of a contract, because ''[[Repudiation|that’s what it is by definition]]'' but that has never stopped an [[ISDA]] drafting committee before. | ||
{{sa}} | {{sa}} | ||
*{{isdaprov|Furnish Specified Information}} and sub-limb {{isdaprov|4(a)(ii)}} (documents for delivery) ''but not'' {{isdaprov|4(a)(i)}} or {{isdaprov|4(a)(iii)}} (which relate to tax documents). | *{{isdaprov|Furnish Specified Information}} and sub-limb {{isdaprov|4(a)(ii)}} (documents for delivery) ''but not'' {{isdaprov|4(a)(i)}} or {{isdaprov|4(a)(iii)}} (which relate to tax documents). | ||
*Section {{isdaprov|3(d)}} representations. | *Section {{isdaprov|3(d)}} representations. |