Template:Nutshell 1992 ISDA 5(a)(vii): Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) (Created page with "{{subst:Nutshell 2002 ISDA 5(a)(vii)}}") |
Amwelladmin (talk | contribs) No edit summary |
||
Line 1: | Line 1: | ||
:{{isda92prov|5(a)(vii)}}. '''{{isda92prov|Bankruptcy}}'''. A party of its {{isda92prov|Credit Support Provider}} or {{isda92prov|Specified Entity}}:― | |||
:{{ | |||
::(1) '''Dissolved''': is dissolved (other than by [[merger]]); | ::(1) '''Dissolved''': is dissolved (other than by [[merger]]); | ||
::(2) '''Insolvent''': becomes [[insolvent]], [[unable to pay its debts]], or admits it in writing; | ::(2) '''Insolvent''': becomes [[insolvent]], [[unable to pay its debts]], or admits it in writing; | ||
::(3) '''Composition with Creditors''': makes a [[composition]] its [[creditor|creditors]]; | ::(3) '''Composition with Creditors''': makes a [[composition]] its [[creditor|creditors]]; | ||
::(4) '''Insolvency Proceedings''': suffers [[insolvency]] proceedings | ::(4) '''Insolvency Proceedings''': suffers [[insolvency]] proceedings which: | ||
::::(I) result in a winding up order; or | |||
::::(II) are not discharged within 30 days; | |||
::::(I) | |||
::::(II) | |||
::(5) '''Voluntary Winding Up''': resolves to wind itself up (other than by [[merger]]); | ::(5) '''Voluntary Winding Up''': resolves to wind itself up (other than by [[merger]]); | ||
::(6) '''Put in Administration''': has an administrator, provisional liquidator, or similar appointed for it or for [[substantially all]] its assets; | ::(6) '''Put in Administration''': has an administrator, provisional liquidator, or similar appointed for it or for [[substantially all]] its assets; | ||
::(7) '''Security Exercised''': has a secured party take possession of, or a legal process is enforced against, [[substantially all]] its assets for at | ::(7) '''Security Exercised''': has a secured party take possession of, or a legal process is enforced against, [[substantially all]] its assets for at 30 days without a court dismissing it; | ||
::(8) '''Analogous events''': suffers any event which, under the laws of any jurisdiction, has the same effect as any of the above events; or | ::(8) '''Analogous events''': suffers any event which, under the laws of any jurisdiction, has the same effect as any of the above events; or | ||
::(9) '''Action in furtherance''': takes any action towards any of the above events. <br> | ::(9) '''Action in furtherance''': takes any action towards any of the above events. <br> |