Section 2(a)(iii) - ISDA Provision: Difference between revisions

Jump to navigation Jump to search

Section 2(a)(iii) - ISDA Provision (view source)

Revision as of 09:19, 8 August 2012

1,668 bytes removed ,  8 August 2012
no edit summary
m (Text replace - "}"" to "}'''"")
No edit summary
Line 25: Line 25:
==Modified Text as per ISDA draft protocol==
==Modified Text as per ISDA draft protocol==
===Section 2(a)(iii)===
===Section 2(a)(iii)===
{{isdaquote|{{isdaprov|2(a)(iii)}} Each obligation of each party under Section {{isdaprov|2(a)(i)}} is subject to (1) the condition precedent
that no {{isdaprov|Event of Default}} or {{isdaprov|Potential Event of Default}} with respect to the other party has occurred
and is continuing, (2) the condition precedent that no {{isdaprov|Early Termination Date}} in respect of the
relevant {{isdaprov|Transaction}} has occurred or been effectively designated and (3) each other applicable
condition precedent specified in this Agreement. '''The condition precedent in Section {{isdaprov|2(a)(iii)}}(1) will
'''cease to be a condition precedent to each obligation of the {{isdaprov|Non-defaulting Party}} on the {{isdaprov|Condition End Date}},'''
'''if any.'''
'''(vi) For the avoidance of doubt, Section {{isdaprov|2(a)(iii)}} applies to each obligation of each party under'''
'''Section {{isdaprov|2(a)(i)}}, after the application of Section {{isdaprov|2(c)}}''' ''[i.e. {{isdaprov|Netting}}].''
'''(vi) For the avoidance of doubt, if the condition precedent in Section {{isdaprov|2(a)(iii)}}(1) is not satisfied'''
'''with respect to a party (“X”) when an obligation of the other party (“Y”) would (but for such condition'''
'''precedent) become payable or deliverable to X under Section 2(a)(i), then the obligation of Y will become'''
'''payable or deliverable on the first to occur of (A) the date on which all applicable conditions precedent'''
'''to such obligation under Section {{isdaprov|2(a)(iii)}} are satisfied, (B) the {{isdaprov|Condition End Date}} or (C) the date on'''
'''which all applicable conditions precedent cease to apply under any other provision of this {{isdaprov|Agreement}}.'''|2(a)(iii)|2002}}


===Restatement of Section {{isdaprov|9(c)}} {{isdaprov|Survival of Obligations}} in entirety:===
{{isdaquote|{{ISDA Master Agreement 2002 2(a)(iii) Protocol}}|2(a)(iii)|2002}}
 
===Restatement of Section {{isdaprov|9(c)}} {{isdaprov|Survival of Obligations}} in entirety:===
  {{isdaquote|{{isdaprov|9(c)}} '''''{{isdaprov|Survival of Obligations}}''.  Without prejudice to Sections {{isdaprov|2(a)(iii)}} and {{isdaprov|6(c)(ii)}}, the obligations of the'''<br>
  {{isdaquote|{{isdaprov|9(c)}} '''''{{isdaprov|Survival of Obligations}}''.  Without prejudice to Sections {{isdaprov|2(a)(iii)}} and {{isdaprov|6(c)(ii)}}, the obligations of the'''<br>
  '''parties under this {{isdaprov|Agreement}} will survive the termination of any {{isdaprov|Transaction}}.  For the avoidance of doubt,'''<br>
  '''parties under this {{isdaprov|Agreement}} will survive the termination of any {{isdaprov|Transaction}}.  For the avoidance of doubt,'''<br>
Retrieved from "https://jollycontrarian.com/index.php?title=Special:MobileDiff/1963"

Navigation menu