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

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-'''Section {{cddprov|1.34}} Notice of Publicly Available Information'''. “'''{{cddprov|Notice of Publicly Available Information}}'''” means an irrevocable notice from the {{cddprov|Notifying Party}} to the other party that cites {{cddprov|Publicly Available Information}} confirming the occurrence of the {{cddprov|Credit Event}} or {{cddprov|Potential Repudiation/Moratorium}}, as applicable, described in the {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}}. The notice given must contain a copy, or a description in reasonable detail, of the relevant Publicly Available Information. If “'''{{cddprov|Notice of Publicly Available Information}}'''” is applicable to a {{cddprov|Credit Derivative Transaction}} and the {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}}, as applicable, contains Publicly Available Information, such {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}} will also be deemed to be a Notice of Publicly Available Information. A form of {{cddprov|Notice of Publicly Available Information}} (which may be a part of the form of {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}}) is set forth in Exhibits B and D.<br>
-'''Section {{cddprov|1.35}} Publicly Available Information'''.<br>
-:(a) “'''{{cddprov|Publicly Available Information}}'''” means information that reasonably confirms any of the facts relevant to the determination that the {{cddprov|Credit Event}} or {{cddprov|Potential Repudiation/Moratorium}}, as applicable, described in a {{cddprov|Credit Event Notice}} or {{cddprov|Repudiation/Moratorium Extension Notice}} have occurred and which:<br>
-::(i) has been published in or on not less than the {{cddprov|Specified Number}} of {{cddprov|Public Source}}s (regardless of whether the reader or user thereof pays a fee to obtain such information);<br>
-::(ii) is information received from or published by (A) the {{cddprov|Reference Entity}} (or, if the {{cddprov|Reference Entity}} is a Sovereign, any agency, instrumentality, ministry, department or other authority thereof acting in a governmental capacity (including, without limiting the foregoing, the central bank) of such Sovereign), or (B) a trustee, fiscal agent, administrative agent, clearing agent, paying agent, facility agent or agent bank for an Obligation; or<br>
-::(iii) is information contained in any order, decree, notice, petition or filing, however described, of or filed with a court, tribunal, exchange, regulatory authority or similar administrative, regulatory or judicial body,<br>
-:provided that where any information of the type described in Sections {{cddprov|1.35}}(a)(ii) or (iii) is not publicly available, it can only constitute {{cddprov|Publicly Available Information}} if it can be made public without violating any law, agreement, understanding or other restriction regarding the confidentiality of such information.<br>
-:(b) In relation to any information of the type described in Sections {{cddprov|1.35}}(a)(ii) or (iii), the party receiving such information may assume that such information has been disclosed to it without violating any law, agreement, understanding or other restriction regarding the confidentiality of such information and that the party delivering such information has not taken any action or entered into any agreement or understanding with the {{cddprov|Reference Entity}} or any Affiliate of the {{cddprov|Reference Entity}} that would be breached by, or would prevent, the disclosure of such information to the party receiving such information.<br>
-:(c) Without limitation, {{cddprov|Publicly Available Information}} need not state (i) in relation to Section {{cddprov|3.28}} ({{cddprov|Downstream Affiliate}}), the percentage of Voting Shares owned by the {{cddprov|Reference Entity}} and (ii) that the relevant occurrence (A) has met the {{cddprov|Payment Requirement}} or {{cddprov|Default Requirement}}, (B) is the result of exceeding any applicable Grace Period, or (C) has met the subjective criteria specified in certain {{cddprov|Credit Event}}s.<br>
-:(d) In relation to a {{cddprov|Repudiation/Moratorium}} {{cddprov|Credit Event}}, {{cddprov|Publicly Available Information}} must relate to the events described in both Sections {{cddprov|4.6}}(a)(i) and (ii) ({{cddprov|Repudiation/Moratorium}}).<br>
 '''Section {{cddprov|1.36}} Public Source'''. “'''{{cddprov|Public Source}}'''” means each source of {{cddprov|Publicly Available Information}} specified as such in the related {{cddprov|Confirmation}} (or, if no such source is specified, each of Bloomberg , Reuters, Dow Jones Newswires, The Wall Street Journal, The New York Times, Nihon Keizai Shimbun, Asahi Shimbun, Yomiuri Shimbun, Financial Times, La Tribune, Les Echos, The Australian Financial Review and Debtwire (and successor publications), the main source(s) of business news in the country in which the {{cddprov|Reference Entity}} is organized and any other internationally recognized published or electronically displayed news sources).<br>
 '''Section {{cddprov|1.37}} Specified Number'''. “'''{{cddprov|Specified Number}}'''” means the number of {{cddprov|Public Source}}s specified in the related {{cddprov|Confirmation}} (or, if no such number is specified, two).<br>

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

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

Revision as of 16:49, 23 April 2023

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