Template:M summ 2002 ISDA 3: Difference between revisions
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If you want any special extra {{isdaprov|Representations}} over and above the boring ones in Section {{isdaprov|3}}, stick them in {{isdaprov|Part 5}} of the {{isdaprov|Schedule}}, or maybe a [[master confirmation]], be sure to label them “{{isdaprov|Additional Representation}}s” and, if the fancy catches you, have the representor [[deem]] them repeated on the commencement of any new {{isdaprov|Transaction}}, the anniversary of the {{isdama}} or whenever, in a moment of weakness, insecurity or indolence, your operations team feels like [[reaching out]] to the counterparty and asking it to say them again. They’ll love you for it. | |||
==={{isdaprov|Misrepresentation}} is an {{isdaprov|Event of Default}}=== | ==={{isdaprov|Misrepresentation}} is an {{isdaprov|Event of Default}}=== | ||
A breach of any of these {{isdaprov|Representations}} when made (or [[deemed]] repeated) (except a [[Payer Tax Representation - ISDA Provision|Payer]] or {{isdaprov|Payee Tax Representation}}, but including any {{isdaprov|Additional Representation}} is an {{isdaprov|Event of Default}}. | A breach of any of these {{isdaprov|Representations}} when made (or [[deemed]] repeated) (except a [[Payer Tax Representation - ISDA Provision|Payer]] or {{isdaprov|Payee Tax Representation}}, but including any {{isdaprov|Additional Representation}} is an {{isdaprov|Event of Default}}. | ||
{{Additional Representations as Termination Events|isdaprov}} | {{Additional Representations as Termination Events|isdaprov}} | ||
Revision as of 08:27, 29 May 2023
If you want any special extra Representations over and above the boring ones in Section 3, stick them in Part 5 of the Schedule, or maybe a master confirmation, be sure to label them “Additional Representations” and, if the fancy catches you, have the representor deem them repeated on the commencement of any new Transaction, the anniversary of the ISDA Master Agreement or whenever, in a moment of weakness, insecurity or indolence, your operations team feels like reaching out to the counterparty and asking it to say them again. They’ll love you for it.
Misrepresentation is an Event of Default
A breach of any of these Representations when made (or deemed repeated) (except a Payer or Payee Tax Representation, but including any Additional Representation is an Event of Default.