Template:ISDA English Law Credit Support Deed 2018 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.