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

'''Section {{cddprov|1.32}} {{cddprov|Credit Event Notice}}'''. “'''{{cddprov|Credit Event Notice}}'''” means an irrevocable notice from a {{cddprov|Notifying Party}} to the other party that describes a {{cddprov|Credit Event}} that occurred on or after the {{cddprov|Credit Event Backstop Date}} and on or prior to the Extension Date.<br>

Any {{cddprov|Credit Event Notice}} that describes a {{cddprov|Credit Event}} that occurred after the {{cddprov|Scheduled Termination Date}} must relate to the relevant Potential {{cddprov|Failure to Pay}}, in the case of a {{cddprov|Grace Period Extension Date}}, or the relevant {{cddprov|Potential Repudiation/Moratorium}}, in the case of a {{cddprov|Repudiation/Moratorium Evaluation Date}}. A {{cddprov|Credit Event Notice}} that describes a {{cddprov|Credit Event}} other than an {{cddprov|M(M)R Restructuring}}} must be in respect of the full {{cddprov|Floating Rate Payer Calculation Amount}}. A {{cddprov|Credit Event Notice}} must contain a description in reasonable detail of the facts relevant to the determination that a {{cddprov|Credit Event}} has occurred. The {{cddprov|Credit Event}} that is the subject of the {{cddprov|Credit Event Notice}} need not be continuing on the date the {{cddprov|Credit Event Notice}} is effective. A form of {{cddprov|Credit Event Notice}} is set forth in Exhibit B.<br>