Sovereign Event - ISDA Knowhow: Difference between revisions

"Sovereign Event" means any of the following: (a) any action of any monetary or governmental authority in the Counterparty's Jurisdiction that has the effect of restricting the transfer of the domestic currency or its exchange for U.S. Dollars, or which causes U.S. Dollars to be unavailable in any established exchange market in accordance with normal practice; (b) the imposition by any such authority of (i) a moratorium on the payment of U.S. Dollar-denominated external indebtedness (ii) a moratorium on, rescheduling of, or requirement for approval for, the payment of any indebtedness; (c) any expropriation, confiscation, requisition, nationalization or other action by any  such authority which deprives the Counterparty of all or a substantial portion of its assets in the Counterparty's Jurisdiction; or (d) any similar event.