Terminated Transactions - ISDA Provision

From The Jolly Contrarian
Revision as of 09:42, 8 August 2012 by Amwelladmin (talk | contribs)
Jump to navigation Jump to search

Template:Isdsnap

Proposed ISDA Protocol Amendments as a result of adjustment to Section 2(a)(iii)

"Terminated Transactions" means, with respect to any Early Termination Date, (a) if resulting from an Illegality or
a Force Majeure Event, all Affected Transactions specified in the notice given pursuant to Section 6(b)(iv), (b) if
resulting from any other Termination Event, all Affected Transactions and (c) if resulting from an Event of Default,
all Transactions, in each case under which a party has or may have any obligation, including, without limitation,
an obligation to pay an amount that became payable (or would have become payable but for Section 2(a)(iii) or due
but for Section 5(d)) to the other party under Section 2(a)(i) or 2(d)(i)(4) on or prior to that Early Termination Date
and which remains unpaid as at such Early Termination Date.