In a Nutshell™ Section 1: 1 Interpretation 1(a) Definitions. Most of the definitions are in Section 14 but some are scattered throughout the Master Agreement. 1(b) Inconsistency. Where they conflict, each Confirmation overrides the Schedule, and the Schedule overrides the Master Agreement. 1(c) Single Agreement. When they enter each Transaction the parties are relying on the Master Agreement and all outstanding Confirmations being a single agreement. They would not otherwise enter into any Transaction. view template 2002 ISDA full text of Section 1: 1 Interpretation 1(a) Definitions. The terms defined in Section 14 and elsewhere in this Master Agreement will have the meanings therein specified for the purpose of this Master Agreement. 1(b) Inconsistency. In the event of any inconsistency between the provisions of the Schedule and the other provisions of this Master Agreement, the Schedule will prevail. In the event of any inconsistency between the provisions of any Confirmation and this Master Agreement, such Confirmation will prevail for the purpose of the relevant Transaction. 1(c) Single Agreement. All Transactions are entered into in reliance on the fact that this Master Agreement and all Confirmations form a single agreement between the parties (collectively referred to as this “Agreement”), and the parties would not otherwise enter into any Transactions. view template Click here for the text of Section 1 in the 1992 ISDA
1(a) Definitions 1(b) Inconsistency 1(c) Single Agreement