General Conditions - ISDA Provision: Difference between revisions

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General Conditions - ISDA Provision (view source)

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{{isdasnap|2(a)||{{isdaprov|General Conditions}}.  <br>
{{isdasnap|2(a)}}
:{{isdaprov|2(a)(i)}} Each party will make each payment or delivery specified in each Confirmation to be made by it, <br>subject to the other provisions of this {{isdaprov|Agreement}}.  <br>
:{{isdaprov|2(a)(ii)}} Payments under this {{isdaprov|Agreement}} will be made on the due date for value on that date in the place of <br>the account specified in the relevant {{isdaprov|Confirmation}} or otherwise pursuant to this {{isdaprov|Agreement}}, in freely <br>transferable funds and in the manner customary for payments in the required currency. Where settlement is <br>by delivery (that is, other than by payment), such delivery will be made for receipt on the due date in the <br>manner customary for the relevant obligation unless otherwise specified in the relevant {{isdaprov|Confirmation}} or <br>elsewhere in this Agreement. <br>
:{{isdaprov|2(a)(iii)}} Each obligation of each party under Section {{isdaprov|2(a)(i)}} is subject to (1) the condition precedent that no <br>{{isdaprov|Event of Default}} or {{isdaprov|Potential Event of Default}} with respect to the other party has occurred and is continuing, <br>(2) the condition precedent that no {{isdaprov|Early Termination Date}} in respect of the relevant {{isdaprov|Transaction}} has <br>occurred or been effectively designated and (3) each other condition specified in this {{isdaprov|Agreement}} to be a <br>condition precedent for the purpose of this Section {{isdaprov|2(a)(iii)}}. <br>}}




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