83,501
edits
Template:ISDA Master Agreement 2002 6(b)(ii): Difference between revisions
Jump to navigation
Jump to search
Template:ISDA Master Agreement 2002 6(b)(ii) (view source)
Revision as of 15:10, 4 September 2012
, 4 September 2012no edit summary
Amwelladmin (talk | contribs) (Created page with "{{isdaprov|6(b)(ii)}} '''{{isdaprov|Transfer to Avoid Termination Event}}'''. If a {{isdaprov|Tax Event}} occurs and there is only one {{isdaprov|Affected Party}}, <br>or if a...") |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{isdaprov|6(b)(ii)}} '''{{isdaprov|Transfer to Avoid Termination Event}}'''. If a {{isdaprov|Tax Event}} occurs and there is only one {{isdaprov|Affected Party}}, <br>or if a {{isdaprov|Tax Event Upon Merger}} occurs and the {{isdaprov|Burdened Party}} is the {{isdaprov|Affected Party}}, the {{isdaprov|Affected Party}} will, <br>as a condition to its right to designate an {{isdaprov|Early Termination Date}} under Section {{isdaprov|6(b)(iv)}}, use all reasonable <br>efforts (which will not require such party to incur a loss, other than immaterial, incidental expenses) to <br>transfer within 20 days after it gives notice under Section {{isdaprov|6(b)(i)}} all its rights and obligations under this <br>{{isdaprov|Agreement}} in respect of the {{isdaprov|Affected Transactions}} to another of its {{isdaprov|Offices}} or {{isdaprov|Affiliates}} so that such <br>{{isdaprov|Termination Event}} ceases to exist. | {{isdaprov|6(b)(ii)}} '''{{isdaprov|Transfer to Avoid Termination Event}}'''. If a {{isdaprov|Tax Event}} occurs and there is only one {{isdaprov|Affected Party}}, <br>or if a {{isdaprov|Tax Event Upon Merger}} occurs and the {{isdaprov|Burdened Party}} is the {{isdaprov|Affected Party}}, the {{isdaprov|Affected Party}} will, <br>as a condition to its right to designate an {{isdaprov|Early Termination Date}} under Section {{isdaprov|6(b)(iv)}}, use all reasonable <br>efforts (which will not require such party to incur a loss, other than immaterial, incidental expenses) to <br>transfer within 20 days after it gives notice under Section {{isdaprov|6(b)(i)}} all its rights and obligations under this <br>{{isdaprov|Agreement}} in respect of the {{isdaprov|Affected Transactions}} to another of its {{isdaprov|Offices}} or {{isdaprov|Affiliates}} so that such <br>{{isdaprov|Termination Event}} ceases to exist.<br> | ||
If the {{isdaprov|Affected Party}} is not able to make such a transfer it will give notice to the other party to that effect <br>within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the <br>notice is given under Section {{isdaprov|6(b)(i)}}.<br> | |||
Any such transfer by a party under this Section {{isdaprov|6(b)(ii)}} will be subject to and conditional upon the prior <br>written consent of the other party, which consent will not be withheld if such other party’s policies in effect <br>at such time would permit it to enter into transactions with the transferee on the terms proposed.<br> | |||