Events of Default - ISDA Provision: Difference between revisions

Events of Default - ISDA Provision (view source)

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 {{eventsofdefault}}
 ===={{isdaprov|Termination Events}} and {{isdaprov|Events of Default}}====
-{{isdaprov|Termination Events}} and {{isdaprov|Events of Default}} under an {{isdama}} are similar in that when they occur to one party (the {{isdaprov|Affected Party}} or {{isdaprov|Defaulting Party}}) the other may terminate outstanding trades under the agreement. Differences:
+{{Differences between events of default and termination events}}
-*'''Events of Default''': As the word "default" implies EODs are treated as the ''fault'' the defaulting party and may give rise to third-party default rights (where the relevant {{isdaprov|Cross Default}} extends to derivatives and trading documents);
+{{ref}}
-*'''Termination Events''': There is less "moral turpitude" associated with a Termination Event under an {{isdama}}, and they will generally not trigger Cross Defaults (not amounting to "defaults".
-{{isdaanatomy}}
-*[[Soft Events of Default]]