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

Note the effect of this is that all transactions are terminated and the recourse is to a net sum under Section 6(e) of the master agreement - NOT under the transations. Therefore, if your [[credit support]] (particularly [[guarantee]]s or [[LC|letters of credit]]) explicitly references the Transaction, you may lose any credit support at precisely the point you want to rely on it. Further commentary on the [[Guarantee]] page.