NEC Event - IM CSD Provision

2018 ISDA Credit Support Deed (IM) (English law)
A Jolly Contrarian owner’s manual™

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Resources: 2018 CSD Wikitext \| 2018 CSD Nutshell Wikitext Navigation 1 (Interpretation) \| 2 (Security) \| 3 (Credit Support Obligations) \| 4 (Conditions Precedent, Transfers, Timing, Calculations and Substitutions) \| 5 (Dispute Resolution) \| 6 (Custody Arrangements and the Control Agreement) \| 7 (Default) \| 8 (Certain Rights and Remedies) \| 9 (Representation) \| 10 (Expenses) \| 11 (Other Provisions) \| 12 (Definitions) \| 13 (Elections and Variables) Index: Click ᐅ to expand: 2018 CSD

Paragraph NEC Event in a Nutshell™

Use at your own risk, campers!

Template:Nutshell 2018 CSD NEC Event view template

Full text of Paragraph NEC Event

“NEC Event” means: (A) if the Control Agreement permits delivery of a Notice of Exclusive Control separately from instructions from the Secured Party to the Custodian (IM) regarding the transfer of assets from the relevant Segregated Account: (1) an Event of Default or Access Condition with respect to the Chargor has occurred and is continuing or (2) an Early Termination Date in respect of all Transactions has occurred or been designated as the result of an Event of Default or Access Condition with respect to the Chargor; or (B) otherwise, a Secured Party Rights Event has occurred and is continuing. view template

Related agreements and comparisons

Related Agreements Click here* for the text of Section NEC Event in the 2016 ISDA VM CSA* Comparisons Template:Csddiff NEC Event

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