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Termination event: Difference between revisions
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Popularised by those habitual splitters of hairs, ISDA lawyers, {{isdaprov|Early Termination Event}}s are circumstances giving grounds to terminate an {{isdama}} that do not speak to the moral character or unacceptable [[creditworthiness]] of the {{isdaprov|Affected Party}} (so labelled, as opposed to a {{isdaprov|Defaulting Party}}. | Popularised by those habitual splitters of hairs, ISDA lawyers, {{isdaprov|Early Termination Event}}s are circumstances giving grounds to terminate an {{isdama}} that do not speak to the moral character or unacceptable [[creditworthiness]] of the {{isdaprov|Affected Party}} (so labelled, as opposed to a {{isdaprov|Defaulting Party}}. | ||
So an {{isdaprov|Illegality}}, a {{isdaprov|Force Majeure}}, a {{isdaprov|Tax Event}}, a {{isdaprov|Tax Event | So an {{isdaprov|Illegality}}, a {{isdaprov|Force Majeure}}, a {{isdaprov|Tax Event}}, a {{isdaprov|Tax Event Upon Merger}} or a {{isdaprov|Credit Event Upon Merger}} — all these things speak to the motion of vengeful gods above our mortal heads; seismic changes beyond our gift or capacity to control, and for whose provenance we can’t be roundly blamed. | ||
There again, {{isdaprov|Additional Termination Event}}s — that category of other stuff thrown in for good measure by the Credit Department, and which will foul up your negotiation for months — these are more turpitudinous and defaulty. | There again, {{isdaprov|Additional Termination Event}}s — that category of other stuff thrown in for good measure by the Credit Department, and which will foul up your negotiation for months — these are more turpitudinous and defaulty. | ||