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Events of Default - ISDA Provision: Difference between revisions
→Additional Events of Default
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{{isdaprov|5(a)(viii)}} {{isdaprov|Merger without Assumption}}<br> | {{isdaprov|5(a)(viii)}} {{isdaprov|Merger without Assumption}}<br> | ||
==Additional Events of Default | ==Commentary== | ||
Note that additional events of default may be set out in Part 5 of the [[ISDA Schedule]]. | *'''{{isdaprov|Additional Events of Default}}''': Note that additional events of default may be set out in Part 5 of the [[ISDA Schedule]]. | ||
*'''{{isdaprov|Illegality}} trumps {{isdaprov|Event of Default}}: Be careful where, for example, a {{isdaprov|Failure to Pay}} is occasioned by a mandatory change in law by a government having jurisdiction over one or other counterparty - see {{isdaprov|Illegality}}. Good example: Greek capital controls of June 2015. | |||
==Termination Events and Events of Default== | ==Termination Events and Events of Default== | ||