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Hierarchy of Events - ISDA Provision: Difference between revisions
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Hierarchy of Events - ISDA Provision (view source)
Revision as of 11:19, 18 January 2020
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An Event of Default has more severe consequences for the [[counterparty]]. Well, the whole point about force majeure is that it is meant to give you an excuse not to perform your agreement. and an Illegality is only a Termination Event (one can’t be criticised if they go and change the law on you, can one?), so | An Event of Default has more severe consequences for the [[counterparty]]. Well, the whole point about force majeure is that it is meant to give you an excuse not to perform your agreement. and an Illegality is only a Termination Event (one can’t be criticised if they go and change the law on you, can one?), so | ||
{{ | {{sa}} | ||
*[[Force majeure]] (wherein for a giggle you will find a sample ultimate force majeure clause) | *[[Force majeure]] (wherein for a giggle you will find a sample ultimate force majeure clause) | ||
*[[Event of default]] | *[[Event of default]] | ||
*[[Termination event]] | *[[Termination event]] | ||