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Template:ISDA Master Agreement 1992 6(b)(ii): Difference between revisions
Template:ISDA Master Agreement 1992 6(b)(ii) (view source)
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Amwelladmin (talk | contribs) (Created page with "{{isdaprov|6(b)(ii)}} {{isdaprov|Transfer to Avoid Termination Event}}. If either an {{isdaprov|Illegality}} under Section {{isdaprov|5(b)(i)(1)}} or a Tax <br>Event occurs an...") |
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{{isdaprov|6(b)(ii)}} {{isdaprov|Transfer to Avoid Termination Event}}. If either an {{isdaprov|Illegality}} under Section {{isdaprov|5(b)(i)(1)}} or a Tax <br>Event occurs and there is only one {{isdaprov|Affected Party}}, or if a {{isdaprov|Tax Event Upon Merger}} occurs and the <br>{{isdaprov|Burdened Party}} is the {{isdaprov|Affected Party}}, the {{isdaprov|Affected Party}} will, as a condition to its right to designate <br>an {{isdaprov|Early Termination Date}} under Section {{isdaprov|6(b)(iv)}}, use all reasonable efforts (which will not require <br>such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after <br>it gives notice under Section {{isdaprov|6(b)(i)}} all its rights and obligations under this {{isdaprov|Agreement}} in respect of <br>the {{isdaprov|Affected Transactions}} to another of its {{isdaprov|Offices}} or {{isdaprov|Affiliates}} so that such {{isdaprov|Termination Event}} <br>ceases to exist. <br> | {{isdaprov|6(b)(ii)}} '''{{isdaprov|Transfer to Avoid Termination Event}}'''. If either an {{isdaprov|Illegality}} under Section {{isdaprov|5(b)(i)(1)}} or a Tax <br>Event occurs and there is only one {{isdaprov|Affected Party}}, or if a {{isdaprov|Tax Event Upon Merger}} occurs and the <br>{{isdaprov|Burdened Party}} is the {{isdaprov|Affected Party}}, the {{isdaprov|Affected Party}} will, as a condition to its right to designate <br>an {{isdaprov|Early Termination Date}} under Section {{isdaprov|6(b)(iv)}}, use all reasonable efforts (which will not require <br>such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after <br>it gives notice under Section {{isdaprov|6(b)(i)}} all its rights and obligations under this {{isdaprov|Agreement}} in respect of <br>the {{isdaprov|Affected Transactions}} to another of its {{isdaprov|Offices}} or {{isdaprov|Affiliates}} so that such {{isdaprov|Termination Event}} <br>ceases to exist. <br> | ||
If the {{isdaprov|Affected Party}} is not able to make such a transfer it will give notice to the other party to that <br>effect within such 20 day period, whereupon the other party may effect such a transfer within <br>30 days after the notice is given under Section {{isdaprov|6(b)(i)}}. <br> | If the {{isdaprov|Affected Party}} is not able to make such a transfer it will give notice to the other party to that <br>effect within such 20 day period, whereupon the other party may effect such a transfer within <br>30 days after the notice is given under Section {{isdaprov|6(b)(i)}}. <br> | ||
Any such transfer by a party under this Section {{isdaprov|6(b)(ii)}} will be subject to and conditional upon the <br>prior written consent of the other party, which consent will not be withheld if such other party’s <br>policies in effect at such time would permit it to enter into transactions with the transferee on the <br>terms proposed. <br> | Any such transfer by a party under this Section {{isdaprov|6(b)(ii)}} will be subject to and conditional upon the <br>prior written consent of the other party, which consent will not be withheld if such other party’s <br>policies in effect at such time would permit it to enter into transactions with the transferee on the <br>terms proposed. <br> | ||