Template:Nutshell 2002 ISDA 5(b)(i)

From The Jolly Contrarian
Jump to navigation Jump to search

5(b)(i) Illegality. Taking account of any fallbacks and remedies in the Transaction, for reasons beyond the affected party's control, (and not counting a lack of authorisation required under Section 4(b)), it would be illegal in any relevant jurisdiction to comply with any material term of the Transaction or any Credit Support Document.