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Affected Party - ISDA Provision: Difference between revisions
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Affected Party - ISDA Provision (view source)
Revision as of 10:37, 23 February 2020
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{{isdaanat|Affected Party}} | {{isdaanat|Affected Party}} | ||
One who is subject to a Section {{isdaprov|5(b)}} {{isdaprov|Termination Event}}, but not a Section {{isdaprov|5(a)}} {{isdaprov|Event of Default}} — thus one of a marginally less opprobrious character, seeing as {{isdaprov|Termination Event}}s are generally not considered to be one’s ''fault'' as such, but just sad things that happen that no-one expected, or wanted, but bring what was once a beautiful relationship to an end. It’s not you, it’s — well, it’s not me either, it’s just that confounded [[Tax Event Upon Merger - ISDA Provision|tax event that occurred upon your recent merger]]. | |||
Note that, in its wisdom, {{icds}} chose not to have a generic term for the sort of person who is subject to ''either'' a {{isdaprov|Termination Event}} ''or'' an {{isdaprov|Event of Default}}, so there is much “{{isdaprov|Defaulting Party}} [[and/or]] {{isdaprov|Affected Party}}, [[as the case may be]]” sort of malarkey. This depresses we prose stylists, but {{icds}} has ''never'' cared about us, so we should hardly be surprised. | |||
{{sa}} | {{sa}} | ||
*{{isdaprov|Defaulting Party}} | *{{isdaprov|Defaulting Party}} | ||
*{{isdaprov|Non-defaulting Party}} | *{{isdaprov|Non-defaulting Party}} | ||
*{{isdaprov|Non-affected Party}} | *{{isdaprov|Non-affected Party}} | ||