Template:ISDA Master Agreement 1992 2(a): Difference between revisions
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{{isdaprov|2(a)}} '''{{isdaprov|General Conditions}}'''. | {{isdaprov|2(a)}} '''{{isdaprov|General Conditions}}'''. | ||
:{{isdaprov|2(a)(i)}} Each party will make each payment or delivery specified in each {{isdaprov|Confirmation}} to be made by | :{{isdaprov|2(a)(i)}} Each party will make each payment or delivery specified in each {{isdaprov|Confirmation}} to be made by it, subject to the other provisions of this {{isdaprov|Agreement}}. | ||
:{{isdaprov|2(a)(ii)}} Payments under this {{isdaprov|Agreement}} will be made on the due date for value on that date in the place | :{{isdaprov|2(a)(ii)}} Payments under this {{isdaprov|Agreement}} will be made on the due date for value on that date in the place of the account specified in the relevant {{isdaprov|Confirmation}} or otherwise pursuant to this {{isdaprov|Agreement}}, in freely transferable funds and in the manner customary for payments in the required currency. Where settlement is by delivery (that is, other than by payment), such delivery will be made for receipt on the due date in the manner customary for the relevant obligation unless otherwise specified in the relevant {{isdaprov|Confirmation}} or elsewhere in this {{isdaprov|Agreement}}. | ||
:{{isdaprov|2(a)(iii)}} Each obligation of each party under Section {{isdaprov|2(a)(i)}} is subject to (1) the condition precedent | :{{isdaprov|2(a)(iii)}} Each obligation of each party under Section {{isdaprov|2(a)(i)}} is subject to (1) the condition precedent that no {{isdaprov|Event of Default}} or {{isdaprov|Potential Event of Default}} with respect to the other party has occurred and is continuing, (2) the condition precedent that no {{isdaprov|Early Termination Date}} in respect of the relevant {{isdaprov|Transaction}} has occurred or been effectively designated and (3) each other applicable condition precedent specified in this {{isdaprov|Agreement}}. <br /> | ||
Revision as of 11:15, 18 October 2016
- 2(a)(i) Each party will make each payment or delivery specified in each Confirmation to be made by it, subject to the other provisions of this Agreement.
- 2(a)(ii) Payments under this Agreement will be made on the due date for value on that date in the place of the account specified in the relevant Confirmation or otherwise pursuant to this Agreement, in freely transferable funds and in the manner customary for payments in the required currency. Where settlement is by delivery (that is, other than by payment), such delivery will be made for receipt on the due date in the manner customary for the relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in this Agreement.
- 2(a)(iii) Each obligation of each party under Section 2(a)(i) is subject to (1) the condition precedent that no Event of Default or Potential Event of Default with respect to the other party has occurred and is continuing, (2) the condition precedent that no Early Termination Date in respect of the relevant Transaction has occurred or been effectively designated and (3) each other applicable condition precedent specified in this Agreement.