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Cross acceleration - ISDA Provision: Difference between revisions
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{{fullanat|isda|5(a)(vi)|2002}}''Cross acceleration is not an actual ISDA term, but is what happens to an ISDA Section {{isdaprov|5(a)(vi)}} {{isdaprov|Cross Default}} if you can persuade your credit department to water it down to something sensible.'' You can amend {{isdaprov|Cross Default}} to {{isdaprov|Cross Acceleration}} as follows: | {{fullanat|isda|5(a)(vi)|2002}}''Cross acceleration is not an actual ISDA term, but is what happens to an ISDA Section {{isdaprov|5(a)(vi)}} {{isdaprov|Cross Default}} if you can persuade your credit department to water it down to something sensible.'' | ||
{{cross acceleration capsule}} | |||
===Amending to {{isdaprov|Cross Default}} to {{isdaprov|cross acceleration}} === | |||
You can amend {{isdaprov|Cross Default}} to {{isdaprov|Cross Acceleration}} as follows: | |||
:Section {{isdaprov|5(a)(vi)}} is amended by deleting “, or becoming capable at such time of being declared,” from subsection (1). <br> | :Section {{isdaprov|5(a)(vi)}} is amended by deleting “, or becoming capable at such time of being declared,” from subsection (1). <br> | ||
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{{seealso}} | |||
*[[Cross default]] | |||