Template:M summ Credit Derivatives 4.2

Differences with Section 5(a)(vii):

• Doesn’t cover credit support providers (being an ISDA concept, not hugely relevant to debt securities) or guarantors (but that is converted elsewhere, directly).
• Simplified provision (d) which is less bothered about who institutes the proceedings, and less particular about the types of formal insolvency process one can go through, so is a bit more “fair large and liberal”.
• No catch-all “or takes any steps in furtherance of the above” rider at the end to sweep up a loss of nerve or weirdo jurisdictions.