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

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Template:2014 ISDA Credit Derivatives Definitions 1 (view source)

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'''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>
'''Section {{cddprov|1.33}} {{cddprov|Credit Event Notice}} after {{cddprov|M(M)R Restructuring}}'''. Upon the occurrence of an {{cddprov|M(M)R Restructuring}}:<br>
'''Section {{cddprov|1.33}} {{cddprov|Credit Event Notice}} after {{cddprov|M(M)R Restructuring}}'''. Upon the occurrence of an {{cddprov|M(M)R Restructuring}}:<br>
:(a) a {{cddprov|Notifying Party}} may deliver multiple {{cddprov|Credit Event Notice}}s with respect to such {{cddprov|M(M)R Restructuring}}, each such {{cddprov|Credit Event Notice}} setting forth the amount of the {{cddprov|Floating Rate Payer Calculation Amount}} to which such {{cddprov|Credit Event Notice}} applies (the “'''{{cddprov|Exercise Amount}}'''”), provided that if the {{cddprov|Credit Event Notice}} does not specify an Exercise Amount, the full {{cddprov|Floating Rate Payer Calculation Amount}} will be deemed to have been specified as the Exercise Amount;<br>
:(a) a {{cddprov|Notifying Party}} may deliver multiple {{cddprov|Credit Event Notice}}s with respect to such {{cddprov|M(M)R Restructuring}}, each such {{cddprov|Credit Event Notice}} setting forth the amount of the {{cddprov|Floating Rate Payer Calculation Amount}} to which such {{cddprov|Credit Event Notice}} applies (the “'''{{cddprov|Exercise Amount}}'''”), provided that if the {{cddprov|Credit Event Notice}} does not specify an Exercise Amount, the full {{cddprov|Floating Rate Payer Calculation Amount}} will be deemed to have been specified as the Exercise Amount;<br>
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