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Cross Default - ISDA Provision: Difference between revisions
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Cross Default - ISDA Provision (view source)
Revision as of 11:38, 12 January 2017
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{{ | {{fullanat2|isda|5(a)(vi)|1992|5(a)(vi)|2002}} | ||
{{means}} | {{means}} | ||
{{nuts|1992 ISDA|Cross Default}} | {{nuts|1992 ISDA|Cross Default}} | ||
{{nuts|2002 ISDA|Cross Default}} | {{nuts|2002 ISDA|Cross Default}} | ||
{{DUST and Cross Default Comparison}} | |||
===The difference between the two formulations=== | ===The difference between the two formulations=== | ||
====Measure of the Threshold==== | ====Measure of the Threshold==== | ||
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===General=== | ===General=== | ||
''This article is specifically about the {{isdaprov|Cross Default}} provision in the {{isdama}}. See: [[cross default]] for a general discussion of the concept. | ''This article is specifically about the {{isdaprov|Cross Default}} provision in the {{isdama}}. See: [[cross default]] for a general discussion of the concept. | ||
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*a default or similar event under financial agreements or instruments that has resulted in indebtedness becoming capable of being accelerated and terminated by a Non-defaulting Party | *a default or similar event under financial agreements or instruments that has resulted in indebtedness becoming capable of being accelerated and terminated by a Non-defaulting Party | ||
*a failure to make any payments on their due date under such agreements or instruments after notice or the expiry of a grace period. | *a failure to make any payments on their due date under such agreements or instruments after notice or the expiry of a grace period. | ||