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

'''Section {{cddprov|1.19}} No Event Determination Date'''. Subject to Section {{cddprov|10.2}}(a)(i)(III) (Effect of {{cddprov|DC Resolution}}s), no {{cddprov|Event Determination Date}}will occur with respect to an event, and any {{cddprov|Event Determination Date}}previously determined with respect to an event shall be deemed not to have occurred, if, or to the extent that, prior to the {{cddprov|Auction Final Price Determination Date}}, a {{cddprov|Valuation Date}}, the {{cddprov|Physical Settlement Date}} (or, if earlier, a {{cddprov|Delivery Date}}), or the Termination Date, as applicable, a {{cddprov|DC No Credit Event Announcement}} occurs with respect to such event.<br>

'''Section {{cddprov|1.20}} Adjustment Payments'''. If, in accordance with Section {{cddprov|1.16}} (Event Determination Date) or {{cddprov|1.19}} (No Event Determination Date), (a) following the determination of an {{cddprov|Event Determination Date}}, such {{cddprov|Event Determination Date}}is deemed either to have occurred on a date that is different from the date that was originally determined to be the {{cddprov|Event Determination Date}}or not to have occurred, or (b) an {{cddprov|Event Determination Date}}is deemed to have occurred prior to a preceding {{cddprov|Fixed Rate Payer Payment Date}}, the {{cddprov|Calculation Agent}} will determine (i) the adjustment payment, if any, that is payable to reflect any change that may be necessary to the Fixed Amounts previously calculated and/or paid in respect of the {{cddprov|Credit Derivative Transaction}}, (ii) the date on which any such adjustment payment is payable and (iii) the party to the {{cddprov|Credit Derivative Transaction}} that is obliged to make any such adjustment payment. For the avoidance of doubt, no accruals of interest shall be taken into account when calculating any such adjustment payment. <br>