Potential Event of Default - ISDA Provision

From The Jolly Contrarian
Jump to navigation Jump to search

2002 ISDA Master Agreement
A Jolly Contrarian owner’s manual™

Resources and navigation

Definition of Potential Event of Default in a Nutshell

Use at your own risk, campers!
Potential Event of Default” means an event which, with the giving of notice or the passing of time, would be an Event of Default.

Full text of Definition of Potential Event of Default

Potential Event of Default” means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

Related agreements and comparisons

Related Agreements
Click here for the text of Section Potential Event of Default in the 1992 ISDA
Comparisons
Template:Isdadiff Potential Event of Default

Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you.
Sign up for our newsletter.

Content and comparisons

Template:M comp disc 2002 ISDA Potential Event of Default

Template

Summary

A Potential Event of Default is a Failure to Pay or Deliver, Breach of Agreement (or other Event of Default) with an unexpired grace period, or where the grace period has expired but the Non-defaulting Party hasn’t (yet) given a notice of default actually accelerating the default into an actual Event of Default.

Template

General discussion

Grace periods and notice requirements for each Event of Default

A JC cut-out-and-keep™ guide. Useful if you are fretting about Potential Event of Default. Don’t feel embarrassed: we all do, every now and then, when spring is upon us.

Template

See also

Template:M sa 2002 ISDA Potential Event of Default

Template

References

  1. See for example Sections 5(a)(viii)(4) and (7).
  2. 30 days in the 1992 ISDA, 15 days in the 2002 ISDA.