Template:ISDA Cross-Agreement Bridge 2001 1(c): Difference between revisions

::(i) if there are one or more outstanding {{isdaprov|Transaction}}s, [(A)] <ref>Include bracketed language if the first alternative identified in footnote 5 is to be used.</ref>  immediately upon the designation of an {{isdaprov|Early Termination Date}} as a result of the occurrence of an {{isdaprov|Event of Default}} under [Section {{isdaprov|5(a)(vii)}} of]<ref>If the bracketed language is omitted, the occurrence of any {{isdaprov|Event of Default}} may constitute a {{isdaprov|Bridging Event}}  Specify “Section S(a)(vii) of’ if the only potential {{isdaprov|Bridging Event}} is to be the occurrence of a Bankruptcy {{isdaprov|Event of Default}}. </ref> this {{isdaprov|Agreement}}[, or (B) if {{isdaprov|Automatic Early Termination}} applies, immediately upon the· deemed occurrence of an {{isdaprov|Early Termination Date}}][, and, if {{isdaprov|Automatic Early Termination}} applies, the deemed occurrence of an {{isdaprov|Early Termination Date}} will not constitute a {{isdaprov|Bridging Event}}]<ref>Include the first bracketed alternative if {{isdaprov|Automatic Early Termination}} has been specified to apply in respect of one or both parties and the automatic occurrence of an {{isdaprov|Early Termination Date}} should trigger the operation of these bridging provisions. Include the second bracketed alternative if {{isdaprov|Automatic Early Termination}} has been specified to apply in respect of one or both parties and the automatic occurrence of an {{isdaprov|Early Termination Date}} should not trigger the operation of these bridging provisions. Note that, if this second alternative is selected, the {{isdaprov|Non-defaulting Party}} will not be able to rely on the bridging provisions where one of the Bankruptcy events to which {{isdaprov|Automatic Early Termination}} applies has occurred.</ref>; or<br>  

::(ii) if there is not an outstanding {{isdaprov|Transaction}}, following the occurrence  of an {{isdaprov|Event of Default}} under [Section {{isdaprov|5(a)(vii)}} of] <ref>If the bracketed language is omitted, the occurrence of any {{isdaprov|Event of Default}} may constitute a {{isdaprov|Bridging Event}}  Specify “Section S(a)(vii) of’ if the only potential {{isdaprov|Bridging Event}} is to be the occurrence of a Bankruptcy {{isdaprov|Event of Default}}</ref> this {{isdaprov|Agreement}}[,]<ref>If the bracketed language is omitted, the occurrence of any {{isdaprov|Event of Default}} may constitute a {{isdaprov|Bridging Event}} Specify “Section S(a)(vii) of’ if the only potential {{isdaprov|Bridging Event}} is to be the occurrence of a Bankruptcy {{isdaprov|Event of Default}}.</ref>  [:<br>  

:::(x) ] <ref></ref> immediately upon the {{isdaprov|Non-defaulting Party}} designating, by not more than 20 days’ notice to the {{isdaprov|Defaulting Party}} specifying the relevant {{isdaprov|Event of Default}}, a day not earlier than the date such notice is effective as a day on which, pursuant to these provisions, the parties’ delivery and payment obligations (and any other obligations they have under the relevant {{isdaprov|Bridged Agreement}}) in respect of any {{isdaprov|Bridged Transaction}}s will be accelerated, terminated or cancelled, as the case may be, in accordance with the provisions of the relevant {{isdaprov|Bridged Agreement}}[; or<br>  

:::(z) as of the time immediately preceding the institution of the relevant proceeding or the presentation of the relevant petition if “{{isdaprov|Automatic Early Termination}}” is specified in the Schedule as applying to the {{isdaprov|Defaulting Party}} and the relevant {{isdaprov|Event of Default}} is specified in Section [{{isdaprov|5(a)(vii)}}(4)] <ref></ref>  or, to the extent analogous thereto, (8),] <ref></ref> <br>  

and the day designated [(under subparagraph (x)) or on which the {{isdaprov|Bridging Event}} is deemed to occur (under subparagraph (y) or (z)), as appropriate,] <ref></ref>9 will be deemed to be an {{isdaprov|Early Termination Date}} for purposes of this {{isdaprov|Agreement}}.<br>