1987 ISDA wikitext: Difference between revisions

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1987 ISDA wikitext (view source)

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{{ISDA Master Agreement 1987 1}}
{{ISDA Master Agreement 1987 1}}
{{ISDA Master Agreement 1987 2}}
{{ISDA Master Agreement 1987 2}}
{{isda87prov|3}} '''{{isda87prov|Representations}}'''<br>
Each party represents to the other party (which representations will be deemed to be repeated by each party on each date on which a {{isda87prov|Swap Transaction}} is entered into and, in the case of the representations in Section {{isda87prov|3(f)}}, at all times until the termination of this {{isda87prov|Agreement}}) that:-<br>
{{isda87prov|3(a)}} '''{{isda87prov|Basic Representations}}'''.<br>
:{{isda87prov|3(a)(i)}} '''{{isda87prov|Status}}'''. It is duly organised and validly existing under the {{isda87prov|law}}s of the jurisdiction of its organisation or incorporation and, if relevant under such {{isda87prov|law}}s, in good standing;<br>
:{{isda87prov|3(a)(ii)}} '''{{isda87prov|Powers}}'''. It has the power to execute and deliver this {{isda87prov|Agreement}} and any other documentation relating to this {{isda87prov|Agreement}} that it is required by this {{isda87prov|Agreement}} to deliver and to perform its obligations under this {{isda87prov|Agreement}} and any obligations it has under any {{isda87prov|Credit Support Document}} to which it is a party and has taken all necessary action to authorise such execution, delivery and performance;<br>
:{{isda87prov|3(a)(iii)}} '''{{isda87prov|No Violation or Conflict}}'''. Such execution, delivery and performance do not violate or conflict with any {{isda87prov|law}} applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its assets;<br>
:{{isda87prov|3(a)(iv)}} '''{{isda87prov|Consents}}'''. All governmental and other {{isda87prov|consent}}s that are required to have been obtained by it with respect to this {{isda87prov|Agreement}} or any {{isda87prov|Credit Support Document}} to which it is a party have been obtained and are in full force and effect and all conditions of any such {{isda87prov|consent}}s have been complied with; and<br>
:{{isda87prov|3(a)(v)}} '''{{isda87prov|Obligations Binding}}'''. Its obligations under this {{isda87prov|Agreement}} and any {{isda87prov|Credit Support Document}} to which it is a party constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms (subject to applicable bankruptcy, reorganisation, insolvency, moratorium or similar {{isda87prov|law}}s affecting creditors' rights generally and subject, as to enforceability, to equitable principles of general application (regardless of whether enforcement is sought in a proceeding in equity or at {{isda87prov|law}})).<br>
:{{isda87prov|3(a)(vi)}} '''{{isda87prov|Absence of Certain Events}}'''. No {{isda87prov|Event of Default}} or {{isda87prov|Potential Event of Default}} or, to its knowledge, {{isda87prov|Termination Event}} with respect to it has occurred and is continuing and no such event or circumstance would occur as a result of its entering into or performing its obligations under this {{isda87prov|Agreement}} or any {{isda87prov|Credit Support Document}} to which it is a party.<br>
:{{isda87prov|3(a)(vii)}} '''{{isda87prov|Absence of Litigation}}'''. There is not pending or, to its knowledge, threatened against it or any of its {{isda87prov|Affiliate}}s any action, suit or proceeding at {{isda87prov|law}} or in equity or before any court, tribunal, governmental body, agency or official or any arbitrator that purports to draw into question, or is likely to affect, the legality, validity or enforceability against it of this {{isda87prov|Agreement}} or any {{isda87prov|Credit Support Document}} to which it is a party or its ability to perform its obligations under this {{isda87prov|Agreement}} or such {{isda87prov|Credit Support Document}}.<br>
:{{isda87prov|3(a)(viii)}} '''{{isda87prov|Accuracy of Specified Information}}'''. All applicable information that is furnished in writing by or on behalf of it to the other party and is identified for the purpose of this Section {{isda87prov|3(d)}} in paragraph 2 of Part 3 of the {{isda87prov|Schedule}} is, as of the date of the information, true, accurate and complete in every material respect.<br>
:{{isda87prov|3(a)(ix)}} '''{{isda87prov|Payer Tax Representation}}'''. Each representation specified in Part 2 of the {{isda87prov|Schedule}} as being made by it for the purpose of this Section {{isda87prov|3(e)}} is accurate and true.<br>
:{{isda87prov|3(a)(x)}} '''{{isda87prov|Payee Tax Representations}}'''. Each representation specified in Part 2 of the {{isda87prov|Schedule}} as being made by it for the purpose of this Section {{isda87prov|3(f)}} is accurate and true.<br>
{{ISDA Master Agreement 1987 3}}
{{ISDA Master Agreement 1987 3}}
 
{{ISDA Master Agreement 1987 4}}
{{isda87prov|4}} '''{{isda87prov|Agreements}}'''<br>
{{isda87prov|4}} '''{{isda87prov|Agreements}}'''<br>
Each party agrees with the other that, so long as it has or may have any obligation under this {{isda87prov|Agreement}} or under any {{isda87prov|Credit Support Document}} to which it is a party:-<br>
Each party agrees with the other that, so long as it has or may have any obligation under this {{isda87prov|Agreement}} or under any {{isda87prov|Credit Support Document}} to which it is a party:-<br>
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