Template:Nutshell Credit Derivatives 4.9

Section 4.9 Certain Definitions Relating to Credit Events.

(a) “Default Requirement” means the amount specified in the Confirmation or, if none, USD 10,000,000 (or in either case its Obligation Currency equivalent) at the date of the Credit Event.

(b) “Governmental Authority” means a government or governmental, inter-governmental or supranational body, any central bank, financial markets regulator or resolution authority in each case having authority of supervisory powers over the Reference Entity and its business.

(c) “Obligation Currency” means an Obligation’s currency.

(d) “Payment Requirement” means the amount specified in the Confirmation or, if none, USD 1,000,000 (or in either case its Obligation Currency equivalent) at the date of the Credit Event.