Template:M summ 2016 CSA NA

Section NA of the 2016 VM CSA is, to ISDA’s crack drafting squad™ what 4’33” is to the modern composer John Cage: a finest hour, a blessed relief; the thing for which the squad should, but will not be remembered, necessarily, but for which we should be grateful all the same — all the more so, even, since it was done selflessly, without vainglory and with no eye to the glories that accrue in posterity.

Section NA is the clause they didn’t draft; the double-negative they couldn’t wrangle; the torture they neglected to impose on the brow of the fledgling legal eagle.