Events of Default (Early Termination Payments) - ISDA Provision: Difference between revisions

{{nuts|ISDA|6(e)(i)}}

Note the effect of this is that all {{isdaprov|transaction}}s 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.

*[[Guarantee]]