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===Section {{isdaprov|5(b)(ii)}} in the {{1992ma}}=== | ===Section {{isdaprov|5(b)(ii)}} in the {{1992ma}}=== | ||
There is no equivalent to the {{isdaprov|Force Majeure Event}} in the {{1992ma}}. An {{isdaprov|Impossibility}} clause was frequently written into the schedule, which endeavoured to do the same thing. Note a few caveats with regard to Force Majeure Events: | There is no equivalent to the {{isdaprov|Force Majeure Event}} in the {{1992ma}}. An {{isdaprov|Impossibility}} clause was frequently written into the schedule, which endeavoured to do the same thing. Note a few caveats with regard to Force Majeure Events: | ||
*'''{{isdaprov|Hierarchy of Events}}''': | *'''{{isdaprov|Hierarchy of Events}}''': {{ISDA Hierarchy of Events}} | ||
*'''{{isdaprov|Deferral of Payments and Deliveries During Waiting Period}}''': Upon an {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}}, payments and deliveries are deferred until the earlier of: | *'''{{isdaprov|Deferral of Payments and Deliveries During Waiting Period}}''': Upon an {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}}, payments and deliveries are deferred until the earlier of: | ||
**the expiry of any {{isdaprov|Waiting Period}}; and | **the expiry of any {{isdaprov|Waiting Period}}; and |