Template:2014 ISDA Credit Derivatives Definitions 1: Difference between revisions

'''Section {{cddprov|1.1}} Credit Derivative Transaction'''. “'''{{cddprov|Credit Derivative Transaction}}'''” means any transaction that is identified in the related Confirmation as a Credit Derivative Transaction or any transaction that incorporates the Definitions.<br>

'''Section {{cddprov|1.2}} Confirmation'''. “'''{{cddprov|Confirmation}}'''” means, with respect to a Credit Derivative Transaction, one or more documents and other confirming evidence exchanged between the parties or otherwise effective which, taken together, confirm or evidence all of the terms of that Credit Derivative Transaction.<br>

::::(II) a Credit Event Notice is delivered by a Notifying Party to the other party and is effective on or prior to the Exercise Cut-off Date,

::::provided that:<br>(x)  no Physical Settlement Date, if applicable, or Termination Date has occurred on or prior to the date on which the DC Credit Event Meeting Announcement occurs;<br>(y)  if any Valuation Date or Delivery Date, as applicable, has occurred on or prior to the date on which the DC Credit Event Meeting Announcement occurs, an Event Determination Date shall be deemed to have occurred only with respect to the portion of the Floating Rate Payer Calculation Amount, if any, with respect to which no Valuation Date or Delivery Date, as applicable, has occurred; and<br>(z)  no Credit Event Notice specifying an M(M)R Restructuring as the only Credit Event has previously been delivered to Seller by Buyer as Notifying Party , (aa) unless the M(M)R Restructuring specified in such Credit Event Notice is also the subject of the DC Credit Event Question resulting in the occurrence of the Credit Event Resolution Request Date, (bb) unless, and to the extent that, the Exercise Amount specified in such Credit Event Notice was less than the Floating Rate Payer Calculation Amount, or (cc) unless the Credit Derivative Transaction is an Auction Covered Transaction and the Deliverable Obligations set out on the Final List are identical to the Permissible Deliverable Obligations for such Credit Derivative Transaction, or

:(b) Section {{cddprov|1.16}}(a) does not apply, the Non-Standard Event Determination Date determined in accordance with Section {{cddprov|14.1}} (Non-Standard Event Determination Date).<br>

'''Section {{cddprov|1.17}} DC Announcement Coverage Cut'''-off Date. “'''{{cddprov|DC Announcement Coverage Cut-off Date}}'''” means, with respect to a DC Credit Event Announcement, the Auction Final Price Determination Date, the Auction Cancellation Date, or the date that is fourteen calendar days following the No Auction Announcement Date, if any, as applicable.<br>