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Template:Csa Security summ: Difference between revisions
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In a document as tediously, fastidiously, ''anal-retentively''-drafted as this one is — the {{imcsd}} really sets a benchmark, even amongst [[ISDA]] documents — this will not do. | In a document as tediously, fastidiously, ''anal-retentively''-drafted as this one is — the {{imcsd}} really sets a benchmark, even amongst [[ISDA]] documents — this will not do. | ||
====Remainder of the paragraphs==== | ====Remainder of the paragraphs==== | ||
Paragraphs 2(e) through 2(f) are the usual litany of formal paranoia that it is incumbent on any securities lawyer to say. This is [[deep magic]] for these people, they take it very seriously, and don’t take kindly to people down-playing its significance so practical advice (a) don’t fiddle with it and (b) don’t engage with negotiating counterparties who try to fiddle with it. ''Be firm''. If anyone tweaks it just say ''no''. | Paragraphs 2(e) through 2(f) are the usual litany of formal paranoia that it is incumbent on any securities lawyer to say. | ||
Is it perfect? Does it dispatch with the foibles and bear traps of taking security under English law? Yes, probably. Does it do it clearly and neatly and without ado? No, but it doesn’t matter. This is boilerplate designed to stop tendentious arguments by creative lawyers in the unknowable future. | |||
This is [[deep magic]] for these people, they take it very seriously, and don’t take kindly to people down-playing its significance so practical advice (a) don’t fiddle with it and (b) don’t engage with negotiating counterparties who try to fiddle with it. ''Be firm''. If anyone tweaks it just say ''no''. | |||
''Will'' anyone try to tweak it? You hope not, but then people insist on putting a counterparts clause in an NDA, so JC is beyond being surprised at the behaviour of lawyers. | ''Will'' anyone try to tweak it? You hope not, but then people insist on putting a counterparts clause in an NDA, so JC is beyond being surprised at the behaviour of lawyers. | ||