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| {{eventsofdefault}} | | {{eventsofdefault}} |
| ===={{isdaprov|Termination Events}} and {{isdaprov|Events of Default}}==== | | ===={{isdaprov|Termination Events}} and {{isdaprov|Events of Default}}==== |
| {{isdaprov|Termination Events}} and {{isdaprov|Events of Default}} under an {{isdama}} are similar in that when they occur to one party (the {{isdaprov|Affected Party}} or {{isdaprov|Defaulting Party}}) the other may terminate outstanding trades under the agreement. Differences: | | {{Differences between events of default and termination events}} |
| *'''Events of Default''': As the word "default" implies EODs are treated as the ''fault'' the defaulting party and may give rise to third-party default rights (where the relevant {{isdaprov|Cross Default}} extends to derivatives and trading documents);
| | {{ref}} |
| *'''Termination Events''': There is less "moral turpitude" associated with a Termination Event under an {{isdama}}, and they will generally not trigger Cross Defaults (not amounting to "defaults".
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| {{isdaanatomy}} | |
| *[[Soft Events of Default]]
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