Template:M comp disc Credit Derivatives 4
The compare and contrast here is to the ISDA Master Agreement.
| ISDA Master Agreement | 2014 ISDA Credit Derivatives Definitions |
|---|---|
| 5(a)(i) Failure to Pay or Deliver | 4.5 Failure to Pay and |
| 5(a)(ii) Breach of Agreement | The “Repudiation” bit of 4.6 Repudiation/Moratorium |
| 5(a)(iii) Credit Support Default | Example |
| 5(a)(iv) Misrepresentation | Example |
| 5(a)(v) Default Under Specified Transaction | 4.3 Obligation Acceleration |
| 5(a)(vi) Cross Default | 4.4 Obligation Default (but see also 4.5 Failure to Pay) |
| 5(a)(vii) Bankruptcy | 4.2 Bankruptcy and 4.8 Governmental Intervention |
| 5(a)(viii) Merger without Assumption | NA |
| NA | 4.7 Restructuring |