Breach of Agreement - ISDA Provision
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Breach of Agreement in a Nutshell™ (ISDA edition)
- 5(a)(ii) “Breach of Agreement” means:
- (1) a party breaches any of its obligations under the Agreement and doesn’t remedy the breach within 30 days of the other party’s notice other than the following:
- (a) a Failure to Pay or Deliver;
- (b) owning up to a Termination Event;
- (c) not providing any necessary tax documents;
- (d) any of its tax representations not being true; or
- (2) a party repudiates this ISDA Master Agreement or any Transaction.
- (1) a party breaches any of its obligations under the Agreement and doesn’t remedy the breach within 30 days of the other party’s notice other than the following:
Note the addition of repudiation to the 2002 ISDA.
See also
- Furnish Specified Information and sub-limbs 4(a)(i) and 4(a)(iii) of that definition. But not 4(a)(ii).
- Section 3(d) representations.