Failure to Pay or Deliver - ISDA Provision: Difference between revisions

Failure to Pay or Deliver - ISDA Provision (view source)

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 {{isdasnap|5(a)(i)}}
-{{tag|text}}=={{1992ma}}==
- (i) '''''Failure to Pay or Deliver'''''. Failure by the party to make, when due, any payment under this
- Agreement or delivery under Section 2(a)(i) or 2(e) required to be made by it if such failure is not
- remedied on or before the third Local Business Day after notice of such failure is given to the party;
 Failure to Pay under Section 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 {{1992ma}}, or the first business day after (under the {{2002ma}}) after notice. This requires: