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| {{Manual|MI|2002|Affected Party||Affected Party|short}} | | {{Manual|MI|2002|Affected Party||Affected Party|short}} |
| One who is subject to a Section {{isdaprov|5(b)}} {{isdaprov|Termination Event}}, but not a Section {{isdaprov|5(a)}} {{isdaprov|Event of Default}} — thus one of a marginally less opprobrious character, seeing as {{isdaprov|Termination Event}}s are generally not considered to be one’s ''fault'' as such, but just sad things that happen that no-one expected, or wanted, but bring what was once a beautiful relationship to an end. It’s not you, it’s — well, it’s not me either, it’s just that confounded [[Tax Event Upon Merger - ISDA Provision|tax event that occurred upon your recent merger]].
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| Note that, in its wisdom, {{icds}} chose not to have a generic term for the sort of person who is subject to ''either'' a {{isdaprov|Termination Event}} ''or'' an {{isdaprov|Event of Default}}, so there is much “{{isdaprov|Defaulting Party}} [[and/or]] {{isdaprov|Affected Party}}, [[as the case may be]]” sort of malarkey. This depresses we prose stylists, but {{icds}} has ''never'' cared about us, so we should hardly be surprised.
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| {{sa}}
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| *{{isdaprov|Defaulting Party}}
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| *{{isdaprov|Non-defaulting Party}}
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| *{{isdaprov|Non-affected Party}}
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