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Events of Default (Early Termination Payments) - ISDA Provision: Difference between revisions
Events of Default (Early Termination Payments) - ISDA Provision (view source)
Revision as of 23:01, 1 August 2016
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Note the effect of this is that all transactions are terminated and the recourse is to a net sum under Section {{isdaprov|6(e)}} of the {{isdama}} - NOT under the {{isdaprov|Transactions}}. Therefore, if your [[credit support]] (particularly [[guarantee]]s or [[LC|letters of credit]]) explicitly references the {{isdaprov|Transaction}}, you may lose any credit support at precisely the point you want to rely on it. Further commentary on the [[Guarantee]] page. | Note the effect of this is that all transactions are terminated and the recourse is to a net sum under Section {{isdaprov|6(e)}} of the {{isdama}} - NOT under the {{isdaprov|Transactions}}. Therefore, if your [[credit support]] (particularly [[guarantee]]s or [[LC|letters of credit]]) explicitly references the {{isdaprov|Transaction}}, you may lose any credit support at precisely the point you want to rely on it. Further commentary on the [[Guarantee]] page. | ||
{{ | {{anat|isda}} | ||
*[[Guarantee]] | *[[Guarantee]] | ||