In a Nutshell™ Section Potential Event of Default: “Potential Event of Default” means an event which, with the giving of notice or the passing of time, would be an Event of Default. view template 2002 ISDA full text of Section Potential Event of Default: “Potential Event of Default” means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default. view template Click here for the text of Section Potential Event of Default in the 1992 ISDA