Affected Party - ISDA Provision

In gory detail

1992 ISDA
Affected Party” has the meaning specified in Section 5(b) (Termination Events).

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2002 ISDA
Affected Party” has the meaning specified in Section 5(b) (Termination Events).

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Commentary

Note that ISDA in its wisdom chose not to have a generic term for the sort of person who is subject to either a Termination Event or an Event of Default, so there is much "Defaulting Party or Affected Party, as the case may be" sort of malarkey.

Related Concepts