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2001 ISDA Cross-Agreement Bridge
2001 ISDA Cross-Agreement Bridge
- 1(d) If a Bridging Event occurs:
- (i) an Event of Default (however described) under each Bridged Agreement will be deemed to have occurred with respect to the party that is the Defaulting Party under this Agreement and in respect of all outstanding Bridged Transactions;
- (ii) the parties’ delivery and payment obligations (and any other obligations they have under the relevant Bridged Agreement) in respect of any Bridged Transactions will be accelerated, terminated or cancelled, as the case may be, in accordance with the provisions of the relevant Bridged Agreement, so that (notwithstanding the provisions of the relevant Bridged Agreement) the acceleration, termination or cancellation will occur upon the occurrence or deemed occurrence of an Early Termination Date pursuant to this provision, and any relevant notices required to be given under the terms of the Bridged Agreement will be deemed to have been given with effect from a date such that the acceleration, termination or cancellation will occur on the Early Termination Date;
- (iii) each Bridged Agreement will be deemed to constitute a Terminated Transaction for purposes of this Agreement; and
- (iv) for purposes of Section 6 of this Agreement, all amounts due or which otherwise would become due under Bridged Transactions or Bridged Agreements will be deemed to have been amounts due under Section 2(a)(i) on the Early Termination Date.
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