Template:ISDA Master Agreement 1992 5(a)(viii): Difference between revisions
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{{isda92prov|5(a)(viii)}} '''{{isda92prov|Merger Without Assumption}}'''. The party or any {{isda92prov|Credit Support Provider}} of such party <br>consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets <br>to, another entity and, at the time of such consolidation, amalgamation, merger or transfer: —<br> | :{{isda92prov|5(a)(viii)}} '''{{isda92prov|Merger Without Assumption}}'''. The party or any {{isda92prov|Credit Support Provider}} of such party <br>consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets <br>to, another entity and, at the time of such consolidation, amalgamation, merger or transfer: —<br> | ||
: | ::{{isda92prov|5(a)(viii)(1)}} the resulting, surviving or transferee entity fails to assume all the obligations of such party <br>or such {{isda92prov|Credit Support Provider}} under this {{isda92prov|Agreement}} or any {{isda92prov|Credit Support Document}} to <br>which it or its predecessor was a party by operation of law or pursuant to an agreement <br>reasonably satisfactory to the other party to this {{isda92prov|Agreement}}; or<br> | ||
: | ::{{isda92prov|5(a)(viii)(2)}} the benefits of any {{isda92prov|Credit Support Document}} fail to extend (without the consent of the <br>other party) to the performance by such resulting, surviving or transferee entity of its <br>obligations under this {{isda92prov|Agreement}}. |
Revision as of 10:19, 25 February 2020
- 5(a)(viii) Merger Without Assumption. The party or any Credit Support Provider of such party
consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets
to, another entity and, at the time of such consolidation, amalgamation, merger or transfer: —
- 5(a)(viii)(1) the resulting, surviving or transferee entity fails to assume all the obligations of such party
or such Credit Support Provider under this Agreement or any Credit Support Document to
which it or its predecessor was a party by operation of law or pursuant to an agreement
reasonably satisfactory to the other party to this Agreement; or - 5(a)(viii)(2) the benefits of any Credit Support Document fail to extend (without the consent of the
other party) to the performance by such resulting, surviving or transferee entity of its
obligations under this Agreement.
- 5(a)(viii)(1) the resulting, surviving or transferee entity fails to assume all the obligations of such party