Non-defaulting Party - ISDA Provision

In gory detail

1992 ISDA “Non-defaulting Party” has the meaning specified in Section 6(a). (view template)

2002 ISDA “Non-defaulting Party” has the meaning specified in Section 6(a). (view template)

Commentary

To be compared with - well, Defaulting Party. Of all things. And Non-affected Party, as well. The difference between a Non-defaulting Party and a Non-affected Party, and the linguistic torture that distinction as inflicted on the race of ISDA lawyers ever since, says everything you need to know about the absurdity of modern commercial law.

See Also

• Defaulting Party