Template:M gen 2002 ISDA 5(a)(ii)

From The Jolly Contrarian
Revision as of 09:09, 25 February 2020 by Amwelladmin (talk | contribs) (Created page with "==={{isdaprov|Failure to Pay or Deliver}} carve-out=== Why is Section {{isdaprov|5(a)(i)}} specifically carved out? No good reason, other than {{icds}}’s general neurosis/d...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

Failure to Pay or Deliver carve-out

Why is Section 5(a)(i) specifically carved out? No good reason, other than ISDA’s crack drafting squad™’s general neurosis/delight in over-communicating. Yes, it has its own separate Event of Default, with a much tighter timeline, so in practice one would never realistically trigger a failure to pay as a 5(a)(ii) event, but it is still a bit fussy carving it out.

ISDA’s crack drafting squad™. Never knowingly outfussed.™

It is an Event of Default not to supply documents for delivery

A failure to Furnish Specified Information — ie those documents for delivery specified in Part 3 of the ISDA Master Agreement, adverted to in Section 4(a)(ii) will therefore be an Event of Default, although you have to navigate a needlessly tortured string of clause cross references and double negatives to settle upon this conclusion.

Retrieved from "https://jollycontrarian.com/index.php?title=Template:M_gen_2002_ISDA_5(a)(ii)&oldid=40612"