Specified Condition - NY VM CSA Provision

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2016 ISDA Credit Support Annex (VM) (New York law)
A Jolly Contrarian owner’s manual™

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Paragraph Specified Condition in a Nutshell

Use at your own risk, campers!

Full text of Paragraph Specified Condition

Specified Condition” means, with respect to a party, any event specified as such for that party in Paragraph 13.

Related agreements and comparisons

Related Agreements
Click here for the text of Section Specified Condition in the 1994 New York law CSA
Click here for the text of Section Specified Condition in the 1995 English Law CSA
Click here for the text of Section Specified Condition in the 2016 English Law VM CSA
Comparisons
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Template:Nycsadiff Specified Condition
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Content and comparisons

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Summary

Unique to the New York law CSAs these Specified Conditions are an extra little means of adding still more triggers into your ISDA Master Agreement — as if the Events of Default and Early Termination Events you have laboriously written in aren’t enough.

These Specified Conditions, you might imagine, have a slightly softer pallor as they confer less onerous rights — simply disabling a Secured Party’s right to rehypothecate the Posted Collateral (VM) a Pledgor may have given to it, and things like that.

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See also

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References