Template:ISDA English Law Credit Support Annex 1995 4(b): Difference between revisions
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{{csaprov|4(b)}} '''{{csaprov|No Event of Default}}'''. The failure by a party to make a transfer of any amount which is the subject <br>of a dispute to which Paragraph {{csaprov|4(a)}} applies will not constitute an {{isdaprov|Event of Default}} for as long as the <br>procedures set out in this Paragraph {{csaprov|4}} are being carried out. For the avoidance of doubt, upon completion <br>of those procedures, Section {{isdaprov|5(a)(i)}} of this {{isdaprov|Agreement}} will apply to any failure by a party to make a <br>transfer required under the final sentence of Paragraph {{csaprov|4(a)}} on the relevant due date. <br> | {{csaprov|4(b)}} '''{{csaprov|No Event of Default}}'''. The failure by a party to make a transfer of any amount which is the subject <br>of a dispute to which Paragraph {{csaprov|4(a)}} applies will not constitute an {{isdaprov|Event of Default}} for as long as the <br>procedures set out in this Paragraph {{csaprov|4}} are being carried out. {{f|For the avoidance of doubt}}, upon completion <br>of those procedures, Section {{isdaprov|5(a)(i)}} of this {{isdaprov|Agreement}} will apply to any failure by a party to make a <br>transfer required under the final sentence of Paragraph {{csaprov|4(a)}} on the relevant due date. <br> | ||
Revision as of 13:14, 14 November 2016
4(b) No Event of Default. The failure by a party to make a transfer of any amount which is the subject
of a dispute to which Paragraph 4(a) applies will not constitute an Event of Default for as long as the
procedures set out in this Paragraph 4 are being carried out. For the avoidance of doubt, upon completion
of those procedures, Section 5(a)(i) of this Agreement will apply to any failure by a party to make a
transfer required under the final sentence of Paragraph 4(a) on the relevant due date.