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Automatic Early Termination - ISDA Provision: Difference between revisions
Automatic Early Termination - ISDA Provision (view source)
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==Analysis== | ==Analysis== | ||
Note that {{isdaprov|AET}} is only triggered by certain events under the {{isdaprov|Bankruptcy}} [[Events of Default - ISDA Provision|event of default]], and isn't triggered by {{isdaprov|Cross Default}} for example. | Note that {{isdaprov|AET}} is only triggered by certain events under the {{isdaprov|Bankruptcy}} [[Events of Default - ISDA Provision|event of default]], and isn't triggered by {{isdaprov|Cross Default}} for example. | ||
It only applies to formal bankruptcy events in the jursidction, not "catastrophic credit events that are effectively as good bankruptcy" provisions which don't amount to formal bankruptcy events, for reasons that will become clear below. | |||
==Discussion== | ==Discussion== | ||