Template:ISDA Master Agreement 1992 5(a)(vi): Difference between revisions
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'''{{isdaprov|Cross Default}}'''. If "{{isdaprov|Cross Default}} | '''{{isdaprov|Cross Default}}'''. If "{{isdaprov|Cross Default}}” is specified in the Schedule as applying to the party, the occurrence or <br>existence of (1) a default, [[event of default]] or other similar condition or event (however described) in respect <br>of such party, any {{isdaprov|Credit Support Provider}} of such party or any applicable {{isdaprov|Specified Entity}} of such party under <br>one or more agreements or instruments relating to {{isdaprov|Specified Indebtedness}} of any of them (individually or <br>collectively) in an aggregate amount of not less than the applicable {{isdaprov|Threshold Amount}} (as specified in the <br>Schedule) which has resulted in such {{isdaprov|Specified Indebtedness}} becoming, or becoming capable at such time of being <br>declared, due and payable under such agreements or instruments, before it would otherwise have been due and payable <br>or (2) a default by such party, such {{isdaprov|Credit Support Provider}} or such {{isdaprov|Specified Entity}} (individually or collectively) <br>in making one or more payments on the due date thereof in an aggregate amount of not less than the applicable <br>{{isdaprov|Threshold Amount}} under such agreements or instruments (after giving effect to any applicable notice requirement or <br>[[grace period]]); | ||
Revision as of 23:55, 16 September 2016
Cross Default. If "Cross Default” is specified in the Schedule as applying to the party, the occurrence or
existence of (1) a default, event of default or other similar condition or event (however described) in respect
of such party, any Credit Support Provider of such party or any applicable Specified Entity of such party under
one or more agreements or instruments relating to Specified Indebtedness of any of them (individually or
collectively) in an aggregate amount of not less than the applicable Threshold Amount (as specified in the
Schedule) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being
declared, due and payable under such agreements or instruments, before it would otherwise have been due and payable
or (2) a default by such party, such Credit Support Provider or such Specified Entity (individually or collectively)
in making one or more payments on the due date thereof in an aggregate amount of not less than the applicable
Threshold Amount under such agreements or instruments (after giving effect to any applicable notice requirement or
grace period);