Template:Nutshell 2002 ISDA 5(a)(v)

5(a)(v) Default Under Specified Transaction. The party or any of its Credit Support Providers or Specified Entities:―

(1) defaults on any payment due under a Specified Transaction (or any related credit support arrangement) and as a result that Specified Transaction is validly accelerated (taking account of any grace periods);

(2) defaults on any final payment due under a Specified Transaction after taking account of any grace periods (or, if none, after one Local Business Day);

(3) defaults on any delivery due under a Specified Transaction (or any related credit support arrangement) and, all Transactions under the relevant Master Agreement are validly accelerated (taking account of any grace periods); or

(4) repudiates any Specified Transaction (or any related credit support arrangement);