Status of Parties - ISDA Provision
A preprinted Additional Representation that forms part of the Relationship Between Parties trifecta. It will go unremarked upon by all but the most bored (or ill-advised) negotiator, so even though it is proper, state-the-obvious, did-you-really-need-to-spill-ink-to-say-that guff, just let it go. Have an argument about a NAV trigger if you are feeling ornery.