Template:ISDA Master Agreement 2002 5(a)(vi): Difference between revisions

{{isdaprov|5(a)(vi)}} '''Cross-Default'''. If “{{isdaprov|Cross-Default}}” is specified in the {{isdaprov|Schedule}} as applying to the party, the occurrence or  existence of:― <br />

:(1) a default, [[event of default]] or other similar condition or event ([[however described]]) in respect of such party, any {{isdaprov|Credit Support Provider|Credit Support Provider}} of such party or any [[applicable]] {{isdaprov|Specified Entity|Specified Entity}}  of such party under [[one or more]]  agreements or instruments relating to {{isdaprov|Specified Indebtedness|Specified Indebtedness}} of any of them ([[individually or collectively]]) where  the aggregate principal amount of such agreements or instruments, either [[alone or together]] with the amount, [[if any]], referred  to in clause (2) below, is not less than the [[applicable]] {{isdaprov|Threshold Amount|Threshold Amount}} (as specified in the {{isdaprov|Schedule}}) which has resulted in such {{isdaprov|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 {{isdaprov|Credit Support Provider}} or such {{isdaprov|Specified Entity}} (individually or collectively) in making  [[one or more]] payments under such agreements or instruments on the due date for payment (after giving effect to any applicable  notice requirement or [[grace period]]) in an aggregate amount, either [[alone or together]] with the amount, if any, referred to in  clause (1) above, of not less than the [[applicable]] {{isdaprov|Threshold Amount}};