Template:Isda 6(b)(ii) comp: Difference between revisions

Template:Isda 6(b)(ii) comp (view source)

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 Note in the {{2002ma}} there is no reference to {{{{{1}}}|Illegality}} (or for that matter {{isdaprov|Force Majeure}}, which did not exist under the {{1992ma}} but tends to treated rather like a special case of {{isdaprov|Illegality}} and therefore, we think, ''would'' have been included in this provision of the {{1992ma}} if it had existed ... if you see what I mean).
+When the {{2002ma}} gets on to the topic of {{isdaprov|Illegality}} and {{isdaprov|Force Majeure}} it allows the {{{{{1}}}|Unaffected Party}} to [[cherry-pick]] which {{isdaprov|Affected Transaction}}s it will terminate, but then seems almost immediately to regret it (see especially in Section {{isdaprov|6(b)(iv)}}). Under the {{1992ma}} if you wanted to pull the trigger on any {{isdaprov|Termination Event}}, you had to pull ''all'' {{{{{1}}}|Affected Transaction}}s. Under the {{2002ma}} it is only binary for the credit- and tax-related {{{{{1}}}|Termination Event}}s.
 Otherwise, but for one consequential change — 1992’s “excluding” became 2002’s “other than” — I mean, you can just imagine the barney they must have had in the drafting committee for that one, can’t you — the provisions are identical.