Event of default: Difference between revisions

Not to be, although easily, confused with {{isdaprov|Termination Events}} under the {{isdama}}. These are (in the main) kinder and gentler than {{isdaprov|Events of Default}}, arise from factors outside the parties control ({{isdaprov|Force Majeure}}, {{isdaprov|Tax Event}}s, {{isdaprov|Merger Event}}s, {{isdaprov|Illegality}} and so on), and in many cases relate to some only and not all of the {{isdaprov|Transaction}}s under the {{isdama}}. They jsutify Termination but at less punitive terms. There are some Termination Events which are more like Events of Default, though: most of these are the tailored ones the parties agree as {{isdaprov|Additional Termination Event}}s.

{{sa}}

*{{isdaprov|Termination Event}}: a special type of half-arsed Event of Default arising under the {{isdama}}.