Template:ISDA Master Agreement 1992 5(a)(vi): Difference between revisions
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'''{{92isdaprov|Cross Default}}'''. If “{{92isdaprov|Cross Default}}” is specified in the Schedule as applying to the party, the occurrence or existence of (1) a default, [[event of default]] or other similar condition or event [[however described]]) in respect of such party, any {{92isdaprov|Credit Support Provider}} of such party or any [[applicable]] {{92isdaprov|Specified Entity}} of such party under one or more agreements or instruments relating to {{92isdaprov|Specified Indebtedness}} of any of them ([[individually or collectively]]) in an aggregate amount of not less than the [[applicable]] {{92isdaprov|Threshold Amount}} (as specified in the Schedule) which has resulted in such {{92isdaprov|Specified Indebtedness}} becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments, before it would [[otherwise]] have been due and payable or (2) a default by such party, such {{92isdaprov|Credit Support Provider}} or such {{92isdaprov|Specified Entity}} ([[individually or collectively]]) in making [[one or more]] payments on the due date thereof in an aggregate amount of [[not less than]] the [[applicable]] {{92isdaprov|Threshold Amount}} under such agreements or instruments (after giving effect to any [[applicable]] notice requirement or [[grace period]]); <br> | {{92isdaprov|5(a)(vi)}} '''{{92isdaprov|Cross Default}}'''. If “{{92isdaprov|Cross Default}}” is specified in the Schedule as applying to the party, the occurrence or existence of | ||
:(1) a default, [[event of default]] or other similar condition or event [[however described]]) in respect of such party, any {{92isdaprov|Credit Support Provider}} of such party or any [[applicable]] {{92isdaprov|Specified Entity}} of such party under one or more agreements or instruments relating to {{92isdaprov|Specified Indebtedness}} of any of them ([[individually or collectively]]) in an aggregate amount of not less than the [[applicable]] {{92isdaprov|Threshold Amount}} (as specified in the Schedule) which has resulted in such {{92isdaprov|Specified Indebtedness}} becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments, before it would [[otherwise]] have been due and payable or | |||
:(2) a default by such party, such {{92isdaprov|Credit Support Provider}} or such {{92isdaprov|Specified Entity}} ([[individually or collectively]]) in making [[one or more]] payments on the due date thereof in an aggregate amount of [[not less than]] the [[applicable]] {{92isdaprov|Threshold Amount}} under such agreements or instruments (after giving effect to any [[applicable]] notice requirement or [[grace period]]); <br> |
Revision as of 00:57, 26 January 2020
Template:92isdaprov Template:92isdaprov. If “Template:92isdaprov” is specified in the Schedule as applying to the party, the occurrence or existence of
- (1) a default, event of default or other similar condition or event however described) in respect of such party, any Template:92isdaprov of such party or any applicable Template:92isdaprov of such party under one or more agreements or instruments relating to Template:92isdaprov of any of them (individually or collectively) in an aggregate amount of not less than the applicable Template:92isdaprov (as specified in the Schedule) which has resulted in such Template:92isdaprov becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments, before it would otherwise have been due and payable or
- (2) a default by such party, such Template:92isdaprov or such Template:92isdaprov (individually or collectively) in making one or more payments on the due date thereof in an aggregate amount of not less than the applicable Template:92isdaprov under such agreements or instruments (after giving effect to any applicable notice requirement or grace period);