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Template:ISDA Cross-Agreement Bridge 2001 1(d): Difference between revisions
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Template:ISDA Cross-Agreement Bridge 2001 1(d) (view source)
Revision as of 14:55, 18 April 2018
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{{ | :{{isdabridgeprovZ|1(d)}} If a {{isdaprov|Bridging Event}} occurs:<br> | ||
::(i) an {{isdaprov|Event of Default}} (however described) under each {{isdaprov|Bridged Agreement}} will be deemed to have occurred with respect to the party that is the {{isdaprov|Defaulting Party}} under this {{isdaprov|Agreement}} and in respect of all outstanding {{isdaprov|Bridged Transaction}}s;<br> | |||
::(ii) the parties’ delivery and payment obligations (and any other obligations they have under the relevant {{isdaprov|Bridged Agreement}}) in respect of any {{isdaprov|Bridged Transaction}}s will be accelerated, terminated or cancelled, as the case may be, in accordance with the provisions of the relevant {{isdaprov|Bridged Agreement}}, so that (notwithstanding the provisions of the relevant {{isdaprov|Bridged Agreement}}) the acceleration, termination or cancellation will occur upon the occurrence or deemed occurrence of an {{isdaprov|Early Termination Date}} pursuant to this provision, and any relevant notices required to be given under the terms of the {{isdaprov|Bridged Agreement}} will be deemed to have been given with effect from a date such that the acceleration, termination or cancellation will occur on the {{isdaprov|Early Termination Date}};<br> | |||
::(iii) each {{isdaprov|Bridged Agreement}} will be deemed to constitute a {{isdaprov|Terminated Transaction}} for purposes of this {{isdaprov|Agreement}}; and<br> | |||
::(iv) for purposes of Section {{isdaprov|6}} of this {{isdaprov|Agreement}}, all amounts due or which otherwise would become due under {{isdaprov|Bridged Transaction}}s or {{isdaprov|Bridged Agreement}}s will be deemed to have been amounts due under Section 2(a)(i) on the {{isdaprov|Early Termination Date}}.<br> | |||