Template:2014 ISDA Credit Derivatives Definitions 3.5

Section 3.5 Sovereign Restructured Deliverable Obligation. “Sovereign Restructured Deliverable Obligation” means an Obligation of a Reference Entity which is a Sovereign (either directly or as provider of a Relevant Guarantee) (a) in respect of which a Restructuring that is the subject of the Credit Event Notice or DC Credit Event Announcementhas occurred and (b) which fell within the definition of a Deliverable Obligation set out in Section 3.2(a) (Deliverable Obligation) immediately preceding the date on which such Restructuring is legally effective in accordance with the terms of the documentation governing such Restructuring .