Cross default: Difference between revisions

Cross default (view source)

77 bytes added , 4 September 2017

no edit summary

82,762

edits

@@ Line 1: / Line 1: @@
-This is a page about the general concept of [[cross default]]. for specific provisions in Master Trading Documents, see:
+This is a page about the general concept of [[cross default]].
+For specific provisions in Master Trading Documents, see:
 *{{isdaprov|Cross Default}} ({{tag|ISDA}})
 *{{gtmaprov|Cross Default}} ([[GTMA]])
 *{{efetprov|Cross Default}} ([[EFET]])
+*'''Stock lending and repo have no cross default''': Neither the {{gmsla}} nor the {{gmra}} have, as standard, either a [[cross default]] or a [[default under specified transaction]] provision.
-'''Stock lending and repo have no cross default''': Note that neither the {{gmsla}} nor the {{gmra}} have, as standard, either a [[cross default]] or a [[default under specified transaction]] provision.
+===Compare and contras===
+*[[default under specified transaction]]
-Compare and contrast [[default under specified transaction]]
+*[[Cross acceleration]]: like cross default, only for a kinder, gentler world.
 Cross Default is a concept that developed in the loan market. If Lender A advanced a large sum to a Borrower with only periodic interest or principal repayments, there would be long periods (between interest payments) - which may be months, quarters or even years where the Borrower had no payment obligations to Lender A.