83,357
edits
Section 2(a)(iii) - ISDA Provision: Difference between revisions
→Original Text of Section 2(a)(iii)
Amwelladmin (talk | contribs) m (Text replace - "1992 ISDA Master Agreement" to "{{1992ma}}") |
Amwelladmin (talk | contribs) |
||
| Line 20: | Line 20: | ||
==Original Text of Section 2(a)(iii)== | ==Original Text of Section 2(a)(iii)== | ||
(iii) Each obligation of each party under Section 2(a)(i) is subject to (1) the condition precedent | {{isdaquote|{{isdaprov|2(a)(iii)}} Each obligation of each party under Section {{isdaprov|2(a)(i)}} is subject to (1) the condition precedent <br> | ||
that no Event of Default or Potential Event of Default with respect to the other party has occurred | that no {{isdaprov|Event of Default}} or {{isdaprov|Potential Event of Default}} with respect to the other party has occurred<br> | ||
and is continuing, (2) the condition precedent that no Early Termination Date in respect of the | and is continuing, (2) the condition precedent that no {{isdaprov|Early Termination Date}} in respect of the<br> | ||
relevant Transaction has occurred or been effectively designated and (3) each other applicable | relevant {{isdaprov|Transaction}} has occurred or been effectively designated and (3) each other applicable<br> | ||
condition precedent specified in this Agreement. | condition precedent specified in this {{isdaprov|Agreement}}.|2(a)(iii)|2002}} | ||
Innocuous looking, isn't it. But then the Protocol of the Elders of ISDA had a go at fixing [[Metavante]] concerns. Now look what they've done: | Innocuous looking, isn't it. But then the Protocol of the Elders of ISDA had a go at fixing [[Metavante]] concerns. Now look what they've done: | ||