Obligation - Credit Derivatives Provision

2014 ISDA Credit Derivatives Definitions
A Jolly Contrarian owner’s manual™

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Section 3.1 in a Nutshell™

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Section 3.1. “Obligation” means: (a) any of the Reference Entity’s obligations (directly or under a Relevant Guarantee) as determined under Section 3.13 (Method for Determining Obligations); and (b) the Reference Obligation, in each case, unless it is an Excluded Obligation. view template

Full text of Section 3.1

Section 3.1 Obligation. “Obligation” means: (a) any obligation of the Reference Entity (either directly or as provider of a Relevant Guarantee) determined pursuant to the method described in Section 3.13 (Method for Determining Obligations); and (b) the Reference Obligation, in each case, unless it is an Excluded Obligation. view template