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| {{prov2|isda|5(c) (2002 ISDA)|5(c)}} '''{{isdaprov|Hierarchy of Events}}'''. <br> | | {{isdasnap|5(c) (2002 ISDA)}} |
| :{{isdaprov|5(c)(i)}} An event or circumstance that constitutes or gives rise to an {{isdaprov|Illegality}} or a {{isdaprov|Force Majeure Event}} will <br>not, for so long as that is the case, also constitute or give rise to an {{isdaprov|Event of Default}} under Section {{isdaprov|5(a)(i)}}, <br>{{isdaprov|5(a)(ii)(1)}} or {{isdaprov|5(a)(iii)(1)}} insofar as such event or circumstance relates to the failure to make any payment or <br>delivery or a failure to comply with any other material provision of this {{isdaprov|Agreement}} or a Credit Support <br>Document, as the case may be. <br>
| | ====Commentary==== |
| :{{isdaprov|5(c)(ii)}} Except in circumstances contemplated by clause {{isdaprov|5(c)(i)}} above, if an event or circumstance which would <br>otherwise constitute or give rise to an {{isdaprov|Illegality}} or a {{isdaprov|Force Majeure Event}} also constitutes an Event of <br>Default or any other {{isdaprov|Termination Event}}, it will be treated as an {{isdaprov|Event of Default}} or such other Termination <br>Event, as the case may be, and will not constitute or give rise to an {{isdaprov|Illegality}} or a {{isdaprov|Force Majeure Event}}. <br>
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| :{{isdaprov|5(c)(iii)}} If an event or circumstance which would otherwise constitute or give rise to a {{isdaprov|Force Majeure Event}} <br>also constitutes an {{isdaprov|Illegality}}, it will be treated as an {{isdaprov|Illegality}}, except as described in clause {{isdaprov|5(c)(ii)}} above, and <br>not a {{isdaprov|Force Majeure Event}}. <br>
| | ===See Also==== |
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| | {{isdaanatomy}} |