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Template:Isda 6(b)(iv) summ: Difference between revisions
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# '''{{{{{1}}}|Illegality}} and {{isdaprov|Force Majeure}}''': Here, if you are on a {{2002ma}}, there may be a {{isdaprov|Waiting Period}} to sit through, to see whether the difficulty clears. For {{isdaprov|Force Majeure Event}} it is eight {{isdaprov|Local Business Day}}s; for {{isdaprov|Illegality}} ''other than one preventing performance of a {{isdaprov|Credit Support Document}}'': three {{isdaprov|Local Business Day}}s. So, sit through it. Why is there exception for {{isdaprov|Illegality}} on a {{isdaprov|Credit Support Document}}? Because, even though it wasn’t your fault, illegality of a {{isdaprov|Credit Support Document}} profoundly changes your credit assessment (in a way that arguably, even a payment or delivery obligation doesn’t), and that is the most fundamental risk you are managing under the {{isdama}}. | # '''{{{{{1}}}|Illegality}} and {{isdaprov|Force Majeure}}''': Here, if you are on a {{2002ma}}, there may be a {{isdaprov|Waiting Period}} to sit through, to see whether the difficulty clears. For {{isdaprov|Force Majeure Event}} it is eight {{isdaprov|Local Business Day}}s; for {{isdaprov|Illegality}} ''other than one preventing performance of a {{isdaprov|Credit Support Document}}'': three {{isdaprov|Local Business Day}}s. So, sit through it. Why is there exception for {{isdaprov|Illegality}} on a {{isdaprov|Credit Support Document}}? Because, even though it wasn’t your fault, illegality of a {{isdaprov|Credit Support Document}} profoundly changes your credit assessment (in a way that arguably, even a payment or delivery obligation doesn’t), and that is the most fundamental risk you are managing under the {{isdama}}. | ||
===[[Repackaging programme|Repackaging SPV]]s=== | ====[[Repackaging programme|Repackaging SPV]]s==== | ||
I know, I know, I know: to a thoroughbred [[ISDA ninja]], [[repackaging]] SPVs are non-canonical heretical fan fiction and we shouldn’t really even talk about them, but still: when perusing part 1 of a repack SPV’s schedule you may see statements like this: | I know, I know, I know: to a thoroughbred [[ISDA ninja]], [[repackaging]] SPVs are non-canonical heretical fan fiction and we shouldn’t really even talk about them, but still: when perusing part 1 of a repack SPV’s schedule you may see statements like this: | ||