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Illegality - ISDA Provision: Difference between revisions
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==Illegality vs. Force Majeure== | ==Illegality vs. Force Majeure== | ||
Note that under the 2002, {{isdaprov|Illegality}} trumps {{isdaprov|Force Majeure}}. Given that Illegality is no longer subject to the "two Affected Parties" delay on termination (as it was in the {{1992ma}}, this is significant. | Note that under the 2002, {{isdaprov|Illegality}} trumps {{isdaprov|Force Majeure}}. Given that Illegality is no longer subject to the "two Affected Parties" delay on termination (as it was in the {{1992ma}}, this is significant. | ||
{{ | {{sa}} | ||
*{{isdaprov|Transaction}} | *{{isdaprov|Transaction}} | ||
*{{isdaprov|Affected Party}} | *{{isdaprov|Affected Party}} | ||
*{{isdaprov|Credit Support Provider}} | *{{isdaprov|Credit Support Provider}} | ||
*{{isdaprov|Credit Support Document}} | *{{isdaprov|Credit Support Document}} | ||