Template:M summ EUA Annex Registry Operation

If ever there were a sign of the half-heartedness of these accursed definitions, this is surely it. The definition of Registry Operation, as a piece of syntax, doesn’t make sense. It is not a complete logical statement.

This is somewhat ameliorated in that the definition only appears once in the document — knee-deep in the clunge of the Suspension Event — in a context that makes it clear what it is meant to say, but still. We think it could be fixed by deleting the words: “, other than by reason of the occurrence of an Administrator Event ”, and adding that into the already leaden phrasing of the Suspension Event paragraph.

This is what our nutshell version does. There: better than ISDA.

But it is worse than that. For the wider context of a Suspension Event is:

• An absence of Registry Operation other than by Administrator Event; or
• An Administrator Event.

At first blush these things look like they might add up to “the Registry not operating”. Or, “an Administrator Event”.

The JC got out his compass and started drawing Venn diagrams here. Could there be an Administrator Event that did not lead to an absence of Registry Operation that was still a Suspension Event? Could there be an an absence of Registry Operation that was not caused by Administrator Event?

We doubt it, but at this moment in time do not have the mental resilience to leap down such an aggravating rabbit-hole.