Cross Default - ISDA Provision: Difference between revisions

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{{isdasnap|5(a)(vi)}}
{{isdasnap|5(a)(vi)}}
==Cross Default under the {{1992ma}}==
The text of Section 5(a)(vi) the [[1992 ISDA Master]] is as follows:
{{isdaquote|{{ISDA Master Agreement 1992 5(a)(vi)}}|5(a)(vi)|1992}}
==Cross Default under the {{2002ma}}==
The text of Section 5(a)(vi) the [[2002 ISDA Master]] provides:
(vi) ''Cross-Default''. If “Cross-Default” is specified in the Schedule as applying to the party, the occurrence or
existence of:―
(l) a default, [[event of default]] or other similar condition or event (however described) in respect of such party, any
{{isdaprov|Credit Support Provider|Credit Support Provider}} of such party or any applicable {{isdaprov|Specified Entity|Specified Entity}}  of such party under one or more
agreements or instruments relating to {{isdaprov|Specified Indebtedness|Specified Indebtedness}} of any of them (individually or collectively) where
the aggregate principal amount of such agreements or instruments, either alone or together with the amount, if any, referred
to in clause (2) below, is not less than the applicable {{isdaprov|Threshold Amount|Threshold Amount}} (as specified in the
Schedule) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being declared,
due and payable under such agreements or instruments before it would otherwise have been due and payable; or
(2) a default by such party, such Credit Support Provider or such Specified Entity (individually or collectively) in making
one or more payments under such agreements or instruments on the due date for payment (after giving effect to any applicable
notice requirement or [[grace period]]) in an aggregate amount, either alone or together with the amount, if any, referred to in
clause (1) above, of not less than the applicable Threshold Amount;


==Introduction==
==Introduction==