Template:Nutshell 1992 ISDA 1: Difference between revisions

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=== {{isda92prov|1}}. {{isda92prov|Interpretation}} ===
=== {{isda92prov|1}}. {{isda92prov|Interpretation}} ===
{{isdaprov|1(a)}} '''{{isdaprov|Definitions}}'''. Most of the definitions are in Section {{isdaprov|14}} but some are scattered throughout the {{isdaprov|Master Agreement}}. <br>
{{isda92prov|1(a)}} '''{{isda92prov|Definitions}}'''. Most of the definitions are in Section {{isda92prov|14}} but some are in the {{isda92prov|Schedule}}. <br>
{{isdaprov|1(b)}} '''{{isdaprov|Inconsistency}}'''. Where they conflict, each {{isdaprov|Confirmation}} overrides the {{isdaprov|Schedule}}, and the {{isdaprov|Schedule}} overides the {{isdaprov|Master Agreement}}. <br>
{{isda92prov|1(b)}} '''{{isda92prov|Inconsistency}}'''. Where they conflict, each {{isda92prov|Confirmation}} overrides the {{isda92prov|Schedule}}, and the {{isda92prov|Schedule}} overides the {{isda92prov|Master Agreement}}. <br>
{{isdaprov|1(c)}} '''{{isdaprov|Single Agreement}}'''. When they enter each {{isdaprov|Transaction}} the parties are relying on the {{isdaprov|Master Agreement}} and all outstanding {{isdaprov|Confirmation}}s being a single agreement. They would not otherwise enter into any {{isdaprov|Transaction}}. <br>
{{isda92prov|1(c)}} '''{{isda92prov|Single Agreement}}'''. When they enter each {{isda92prov|Transaction}} the parties are relying on the {{isda92prov|Master Agreement}} and all outstanding {{isda92prov|Confirmation}}s being a single agreement. They would not otherwise enter into any {{isda92prov|Transaction}}. <br>

Latest revision as of 22:41, 28 January 2020

1. Interpretation

1(a) Definitions. Most of the definitions are in Section 14 but some are in the Schedule.
1(b) Inconsistency. Where they conflict, each Confirmation overrides the Schedule, and the Schedule overides the Master Agreement.
1(c) Single Agreement. When they enter each Transaction the parties are relying on the Master Agreement and all outstanding Confirmations being a single agreement. They would not otherwise enter into any Transaction.

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