Template:Nutshell Credit Derivatives 4.9: Difference between revisions

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Template:Nutshell Credit Derivatives 4.9 (view source)

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(Created page with "{{subst:2014 ISDA Credit Derivatives Definitions 4.9}}")
 
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'''Section {{cddprov|4.9}} {{cddprov|Certain Definitions Relating to Credit Events}}'''.<br>
'''Section {{cddprov|4.9}} {{cddprov|Certain Definitions Relating to Credit Events}}'''.<br>
:(a) “'''{{cddprov|Default Requirement}}'''” means the amount specified as such in the related {{cddprov|Confirmation}} or its equivalent in the relevant {{cddprov|Obligation Currency}} (or, if no such amount is specified, USD 10,000,000 or its equivalent in the relevant {{cddprov|Obligation Currency}}) in either case, as of the occurrence of the relevant {{cddprov|Credit Event}}.<br>
:(a) “'''{{cddprov|Default Requirement}}'''” means the amount specified in the {{cddprov|Confirmation}} or, if none, USD 10,000,000 (or in either case its {{cddprov|Obligation Currency}} equivalent) at the date of the {{cddprov|Credit Event}}.<br>
:(b) “'''{{cddprov|Governmental Authority}}'''” means:<br>
:(b) “'''{{cddprov|Governmental Authority}}'''” means a government or governmental, inter-governmental or supranational body, any central bank, financial markets regulator or resolution authority in each case having authority of supervisory powers over the {{cddprov|Reference Entity}} and its business.
::(i) any de facto or de jure government (or any agency, instrumentality, ministry or department thereof);<br>
:(c) “'''{{cddprov|Obligation Currency}}'''” means an {{cddprov|Obligation}}’s currency.<br>
::(ii) any court, tribunal, administrative or other governmental, inter-governmental or supranational body;<br>
:(d) “'''{{cddprov|Payment Requirement}}'''” means the amount specified in the {{cddprov|Confirmation}} or, if none, USD 1,000,000 (or in either case its {{cddprov|Obligation Currency}} equivalent) at the date of the {{cddprov|Credit Event}}.<br>
::(iii) any authority or any other entity (private or public) either designated as a resolution authority or charged with the regulation or supervision of the financial markets (including a central bank) of the {{cddprov|Reference Entity}} or some or of all of its obligations; or<br>
::(iv) any other authority which is analogous to any of the entities specified in Sections {{cddprov|4.9}}(b)(i) to (iii).<br>
:(c) “'''{{cddprov|Obligation Currency}}'''” means the currency or currencies in which an Obligation is denominated.<br>
:(d) “'''{{cddprov|Payment Requirement}}'''” means the amount specified as such in the related {{cddprov|Confirmation}} or its equivalent in the relevant {{cddprov|Obligation Currency}} (or, if no such amount is specified, USD 1,000,000 or its equivalent in the relevant {{cddprov|Obligation Currency}}) in either case as of the occurrence of the relevant {{cddprov|Failure to Pay}} or Potential {{cddprov|Failure to Pay}}, as applicable.<br>
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