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Event of default: Difference between revisions
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Sometimes known as an [[enforcement event]], an [[event of default]] is an action a counterparty takes which justifies the innocent party from terminating the contract, [[close out|closing out]] open transactions, and raining down fiery hell on the wronger and its affiliates, directors, officers, employees, agents and delegates. | |||
There is specific idiosyncratic lore attaching to the events of default under differing market standard master agreements, so go with alacrity to: | |||
*{{isdaprov|Event of Default}} ({{isdama}}) | *{{isdaprov|Event of Default}} ({{isdama}}) | ||
*{{gmslaprov|Event of Default}} ({{gmsla}}) | *{{gmslaprov|Event of Default}} ({{gmsla}}) | ||
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Not to be confused with: | Not to be confused with: | ||
*{{isdaprov|Termination Events}} ({{isdama}}) | *{{isdaprov|Termination Events}} ({{isdama}}) | ||
{{Seealso}} | |||
*[[Cross Default]] | *[[Cross Default]] | ||
*{{isdaprov|Early Termination Event}}: a special type of half-arsed event of default arising under the {{isdama}}. | |||