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No event of default or potential event of default: Difference between revisions
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No event of default or potential event of default (view source)
Revision as of 11:14, 1 July 2019
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Have fun, counselor. | Have fun, counselor. | ||
===“...or [[potential event of default]]”=== | |||
Adding potential events of default is onerous, especially if it is a continuous representation, as it deprives the representor of [[grace period]]s it has carefully negotiated into its other payment obligations. Yes, it is in the {{isdama}}. | |||
===“... or would occur as a result of entering into this agreement”=== | ===“... or would occur as a result of entering into this agreement”=== | ||
A curious confection, you might think: ''what sort of [[event of default]] could a fellow trigger merely by entering into an {{isdama}} with me?'' Well, remember the [[ISDA]]’s lineage. It was crafted, before the alliance of men and elves, by the [[Children of the Forest]]. They were a species of pre-derivative, banking people. It is possible they had in mind the sort of [[restrictive covenant]]s a banker might demand of a borrower with a look of softness about its credit standing: perhaps a promise not to create material [[indebtedness]] to another lender, though in these enlightened times that would be a great constriction indeed on a fledgling enterprise chasing the world of opportunity that lies beyond its door. | A curious confection, you might think: ''what sort of [[event of default]] could a fellow trigger merely by entering into an {{isdama}} with me?'' Well, remember the [[ISDA]]’s lineage. It was crafted, before the alliance of men and elves, by the [[Children of the Forest]]. They were a species of pre-derivative, banking people. It is possible they had in mind the sort of [[restrictive covenant]]s a banker might demand of a borrower with a look of softness about its credit standing: perhaps a promise not to create material [[indebtedness]] to another lender, though in these enlightened times that would be a great constriction indeed on a fledgling enterprise chasing the world of opportunity that lies beyond its door. | ||