Template:Nutshell 2018 CSD 13(h): Difference between revisions
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Amwelladmin (talk | contribs) m Amwelladmin moved page Template:Nutshell 2018 CSD Secured Party Rights Event to Template:Nutshell 2018 CSD 13(h) |
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Latest revision as of 15:40, 18 March 2022
13(h) “Secured Party Rights Event” means:
- (i) an Early Termination Date for all Transactions happens because of an Event of Default or Access Condition for the Chargor [and the Chargor has not paid its Obligations in full when due]; or
- (ii) if “Failure to Pay Early Termination Amount” applies, the Chargor is suffering an ongoing Event of Default and its Section 6(e) payment obligation for an Early Termination Date for all Transactions [umm something seems to be missing here?]:
Failure to Pay Early Termination Amount [applies][does not apply].
- [(iii)] if “Control Agreement Secured Party Rights Event” applies to a Chargor, a “Secured Party Rights Event” will only occur Secured Party is contractually entitled to exercise exclusive control of the Posted Credit Support (IM).
Party A as Chargor: Control Agreement Secured Party Rights Event [applies][does not apply].
Party B as Chargor: Control Agreement Secured Party Rights Event [applies][does not apply].