Template:M summ 2002 ISDA 2(e)

There isn’t a Section 2(e), but there almost was, when ISDA went through a period of hand-wringing after the financial crisis, which revealed to the world how unsatisfactory the existing section 2(a)(iii) was.

The idea was to allow the victim — Affected Party, however you want to call it — to preempt the condition precedent, and say, well use it or lose it within 90 days — the titular Condition End Date.

Well, the moment passed, but there are those who have adopted this as a standard in their schedules — good sports, for the most part — but regulator angst has long since moved on, as did legal eagle appetite to amend swathes of standard contracts for a contingency no-one in their right mind would use, or for that matter can make head or tail of.