Inability of Head or Home Office to Perform Obligations of Branch - ISDA Provision: Difference between revisions
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 1: | Line 1: | ||
{{isdaanat|5(e)}} | {{isdaanat|5(e)}} | ||
In a nutshell squared: ''If an {{isdaprov|Affected Party}}’s head office is subject to a [[Force Majeure Event - ISDA Provision|Force Majeure]] or {{isdaprov|Illegality}}, It | In a nutshell squared: ''If an {{isdaprov|Affected Party}}’s head office is subject to a [[Force Majeure Event - ISDA Provision|Force Majeure]] or {{isdaprov|Illegality}}, It can’t be [[whack|whacked]] for not performing a branch’s obligations under the Section {{isdaprov|10(a)}} rep.'' | ||
From the “shoot me” department, this multi-line bunker-buster introduced into the {{2002ma}} which, to give it some kind of credit, doesn’t generate a great deal of comment in the course of your average negotiation. That is as likely to be because it is so stupefyingly dull that no one has summoned the fortitude to read it as it is because it is a sensible, prudent allocation of risk. | From the “shoot me” department, this multi-line bunker-buster introduced into the {{2002ma}} which, to give it some kind of credit, doesn’t generate a great deal of comment in the course of your average negotiation. That is as likely to be because it is so stupefyingly dull that no one has summoned the fortitude to read it as it is because it is a sensible, prudent allocation of risk. |
Revision as of 19:18, 23 February 2020
ISDA Anatomy™
view template
then, for so long as the relevant event or circumstance continues to exist with respect to both the Office referred to in Section 5(b)(i)(1) or 5(b)(ii)(1), as the case may be, and the Affected Party’s head or home office, such failure will not constitute an Event of Default under Section 5(a)(i) or 5(a)(iii)(1).
view template
|
In a nutshell squared: If an Affected Party’s head office is subject to a Force Majeure or Illegality, It can’t be whacked for not performing a branch’s obligations under the Section 10(a) rep.
From the “shoot me” department, this multi-line bunker-buster introduced into the 2002 ISDA which, to give it some kind of credit, doesn’t generate a great deal of comment in the course of your average negotiation. That is as likely to be because it is so stupefyingly dull that no one has summoned the fortitude to read it as it is because it is a sensible, prudent allocation of risk.
But here you are, specially for you, the Jolly Contrarian’s Nutshell™ service renders it for you in emperor’s couturier style: