Specified Indebtedness - ISDA Provision: Difference between revisions

A simple and innocuous enough provision. Almost redundant — why go to the trouble of defining borrowed money as another term? (because some firms, in their infinite wisdom, will wish to change the definition of borrowed money to include derivatives, other trading exposures, or even any payment obligations of any kind, and Specified Indebtedness is a (somewhat) less loaded label than borrowed money)<ref>By the way, the [[JC]]’s personal view is that one should not widen the definition beyond the normal conception of “[[borrowed money]]”, and if one is a [[Bank/Credit Institution|bank]], may wish to ''narrow'' it, to exclude deposits. See the article on ISDA’s {{isdaprov|Cross Default}} {{gmslaprov|Event of Default}} for more information.</ref>.