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

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

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===Additional {{isdaprov|Definitions}} in Section 14===
===Additional {{isdaprov|Definitions}} in Section 14===
{{isdaquote|"'''{{isdaprov|Terminated Transactions}}'''" means, with respect to any {{isdaprov|Early Termination Date}}, (a) if resulting from an {{isdaprov|Illegality}} or <br>
{{isdaquote|{{ISDA Master Agreement 1992 Terminated Transaction Definition Protocol}}|Terminated Transaction Definition|1992}}
a {{isdaprov|Force Majeure Event}}, all {{isdaprov|Affected Transaction}}s specified in the notice given pursuant to Section {{isdaprov|6(b)(iv)}}, (b) if <br>
{{isdaquote|{{ISDA Master Agreement 2002 Terminated Transaction Definition Protocol}}|Terminated Transaction Definition|2002}}
resulting from any other {{isdaprov|Termination Event}}, all {{isdaprov|Affected Transaction}}s and (c) if resulting from an {{isdaprov|Event of Default}},<br>
all Transactions''', in each case under which a party has or may have any obligation, including, without limitation,'''<br>
'''an obligation to pay an amount that became payable (or would have become payable but for Section {{isdaprov|2(a)(iii)}} or due'''<br>
'''but for Section {{isdaprov|5(d)}}) to the other party under Section {{isdaprov|2(a)(i)}} or {{isdaprov|2(d)(i)(4)}} on or prior to that {{isdaprov|Early Termination Date}}'''<br>
'''and which remains unpaid as at such {{isdaprov|Early Termination Date}}.'''<br>
<br>
'''"'''{{isdaprov|Condition End Date}}'''" means the first {{isdaprov|Local Business Day}} after the date falling [  ] days after notice'''<br>
'''is given by the {{isdaprov|Defaulting Party}} to the {{isdaprov|Non-defaulting Party}} that an {{isdaprov|Event of Default}} [specified in Section'''<br>
'''{{isdaprov|5(a)(iv)}}, {{isdaprov|5(a)(v)}}, {{isdaprov|5(a)(vi)}} or {{isdaprov|5(a)(vii)}}] or[, in the case of Section {{isdaprov|5(a)(vii)(4)}},] {{isdaprov|Potential Event of Default}}'''<br>
'''has occurred with respect to the Defaulting Party.'''|Definitions|2002}}
 
==Commentary==
==Commentary==
In a nutshell, what this does is:
In a nutshell, what this does is:
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