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Specified Entity - ISDA Provision: Difference between revisions
Specified Entity - ISDA Provision (view source)
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It is relevant to the definition of {{isdaprov|Cross Default}} and {{isdaprov|Default under Specified Transaction}} in that it widens the effect of those provisions to include defaults by the parties specified. | It is relevant to the definition of {{isdaprov|Cross Default}} and {{isdaprov|Default under Specified Transaction}} in that it widens the effect of those provisions to include defaults by the parties specified. | ||
=== | ==={{T|Trick 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. | ||