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Failure to Pay or Deliver - ISDA Provision: Difference between revisions
Failure to Pay or Deliver - ISDA Provision (view source)
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{{fullanat2|isda|5(a)(i)| | {{fullanat2|isda|5(a)(i)|2002|5(a)(i)|1992}} | ||
{{isdaprov|Failure to Pay}} under Section {{isdaprov|5(a)(i)}} if the {{isdama}}: where a party fails to pay or deliver on time and does not remedy on or before the 3rd local business day (being the default under a {{1992isda}}, or the first business day after (under the {{2002isda}}) after notice. This requires: | {{isdaprov|Failure to Pay}} under Section {{isdaprov|5(a)(i)}} if the {{isdama}}: where a party fails to pay or deliver on time and does not remedy on or before the 3rd local business day (being the default under a {{1992isda}}, or the first business day after (under the {{2002isda}}) after notice. This requires: | ||
*A [[failure to pay]], on day T; | *A [[failure to pay]], on day T; | ||