Template:ISDA Master Agreement 2002 5(b)(v): Difference between revisions

{{isdaprov|5(b)(v)}} '''{{isdaprov|Credit Event Upon Merger}}'''. If “{{isdaprov|Credit Event Upon Merger}}” is specified in the {{isdaprov|Schedule}} as <br> applying to the party, a {{isdaprov|Designated Event}} (as defined below) occurs with respect to such party, any Credit Support <br> Provider of such party or any applicable {{isdaprov|Specified Entity}} of such party (in each case, “X”) and such <br> {{isdaprov|Designated Event}} does not constitute a {{isdaprov|Merger Without Assumption}}, and the creditworthiness of X or, if <br> applicable, the successor, surviving or transferee  entity of X, after taking into account any applicable Credit <br> Support Document, is materially weaker immediately after the occurrence of such {{isdaprov|Designated Event}} than <br> that of X immediately prior to the occurrence of such {{isdaprov|Designated Event}} (and, in any such event, such party <br> or its successor, surviving or transferee entity, as appropriate, will be the {{isdaprov|Affected Party}}).