General Conditions - ISDA Provision: Difference between revisions

General Conditions - ISDA Provision (view source)

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-{{fullanat2|isda|2(a)|2002|2(a)|1992}}
+{{isdaanat|2(a)}}
-===Commentary===
+''Section 2(a) is identical in the {{1992ma}} and the {{2002ma}}.''
-''See also a wider discussion of proposed changes at {{isdaprov|Section 2(a)(iii)}}''
+Of these provisions, the one that generates the most controversy (chiefly amongst academics and scholars, it must be said) is Section {{isdaprov|2(a)(iii)}}. It generates a lot less debate between negotiators precisely because its legal effect is nuanced, so its terms are more or less inviolate.  Thus, should a counterpart of yours take a pen to Section {{isdaprov|2(a)(iii)}}, a clinching argument ''against'' that inclination is “''don’t go there, girlfriend''”.
-The provisions are the same in both versions of the {{isdama}}
+So, for academics and frustrated geeks only:
 ====Section 2(a)(iii)====
 Section 2(a)(iii) of the {{isdama}} was considered in the [[Metavante]] litigation, which has led to more or less the opposite conclusion to the court in [[Enron v TXU]].