Affiliate - ISDA Provision: Difference between revisions
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== | =={{1992ma}}== | ||
"'''Affiliate'''" means, subject to the Schedule, in relation to any person, any entity controlled, directly or | "'''Affiliate'''" means, subject to the Schedule, in relation to any person, any entity controlled, directly or | ||
indirectly, by the person, any entity that controls, directly or indirectly, the person or any entity directly or | indirectly, by the person, any entity that controls, directly or indirectly, the person or any entity directly or | ||
Revision as of 20:03, 9 July 2012
1992 ISDA
"Affiliate" means, subject to the Schedule, in relation to any person, any entity controlled, directly or indirectly, by the person, any entity that controls, directly or indirectly, the person or any entity directly or indirectly under common control with the person. For this purpose, "control" of any entity or person means ownership of a majority of the voting power of the entity or person.
Commentary
A potentially wide definition which could include, for example, special purpose vehicles whose shareholding is owned by the same corporate service provider, or separate stand-alone hedge funds managed by the same administrator or investment manager.