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Specified Entity - ISDA Provision: Difference between revisions
Specified Entity - ISDA Provision (view source)
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{{ | {{fullanat|isda|Specified Entity|2002}} | ||
Note the reference in relation to (a) Section {{isdaprov|5(a)}} {{isdaprov|Termination Event}}s (like {{isdaprov|DUST}} for example), and (b) the "{{isdaprov|Absence of Litigation}}" representation in Section ''3(c)'' of the {{2002ma}}. | Note the reference in relation to (a) Section {{isdaprov|5(a)}} {{isdaprov|Termination Event}}s (like {{isdaprov|DUST}} for example), and (b) the "{{isdaprov|Absence of Litigation}}" representation in Section ''3(c)'' of the {{2002ma}}. | ||
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===Tricks for young players: nominating {{isdaprov|Specified Entities}} for yourself has its upsides=== | ===Tricks for young players: nominating {{isdaprov|Specified Entities}} for yourself has its upsides=== | ||
{{isdaprov|Specified Entity}} widens the scope of those provisions also to include defaults by {{isdaprov|Specified Entities}} under contracts with ''your'' {{isdaprov|Specified Entities}} - so there *is* some benefit to naming ''your'' affiliates, friends and relations as {{isdaprov|Specified Entities}}. But given how unlikely you are to be actually monitoring how a counterparty performs with an affiliate, it's more of a false comfort than a real one. | {{isdaprov|Specified Entity}} widens the scope of those provisions also to include defaults by {{isdaprov|Specified Entities}} under contracts with ''your'' {{isdaprov|Specified Entities}} - so there *is* some benefit to naming ''your'' affiliates, friends and relations as {{isdaprov|Specified Entities}}. But given how unlikely you are to be actually monitoring how a counterparty performs with an affiliate, it's more of a false comfort than a real one. | ||
{{ | {{seealso}} | ||
*{{isdaprov|Specified Transaction}} | *{{isdaprov|Specified Transaction}} | ||
*{{isdaprov|Cross Default}} | *{{isdaprov|Cross Default}} | ||
*{{isdaprov|Default under Specified Transaction}} | *{{isdaprov|Default under Specified Transaction}} | ||