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

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Revision as of 15:08, 26 July 2012 (view source) Amwelladmin (talk \| contribs) (Created page with "{{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 ...")		Latest revision as of 15:01, 2 October 2017 (view source) Amwelladmin (talk \| contribs) No edit summary
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	{{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}}). ~~A “'''Designated''' <br> '''Event'''” with respect to X means that:― <br>~~		:{{isdaprov\|5(b)(v)}} '''{{isdaprov\|Credit Event Upon Merger}}'''. If “{{isdaprov\|Credit Event Upon Merger}}” is specified in the {{isdaprov\|Schedule}} as applying to the party, a {{isdaprov\|Designated Event}} (as defined below) occurs with respect to such party, any Credit Support Provider of such party or any applicable {{isdaprov\|Specified Entity}} of such party (in each case, “X”) and such {{isdaprov\|Designated Event}} does not constitute a {{isdaprov\|Merger Without Assumption}}, and the creditworthiness of X or, if applicable, the successor, surviving or transferee entity of X, after taking into account any applicable Credit Support Document, is materially weaker immediately after the occurrence of such {{isdaprov\|Designated Event}} than that of X immediately prior to the occurrence of such {{isdaprov\|Designated Event}} (and, in any such event, such party or its successor, surviving or transferee entity, as appropriate, will be the {{isdaprov\|Affected Party}}).
	:(1) X consolidates or amalgamates with, or merges with or into, or transfers all or substantially <br> all its assets (or any substantial part of the assets comprising the business conducted by X as of the <br> date of this {{~~isdama~~}}) to, or reorganises, reincorporates or reconstitutes into or as, another <br> entity; <br>(2) any person, related group of persons or entity acquires directly or indirectly the beneficial <br> ownership of (A) equity securities having the power to elect a majority of the board of directors (or <br> its equivalent) of X or (B) any other ownership interest enabling it to exercise control of X; or <br>(3) X effects any substantial change in its capital structure by means of the issuance, <br> incurrence or guarantee of debt or the issuance of (A) preferred stock or other securities convertible <br> into or exchangeable for debt or preferred stock or (B) in the case of entities other than <br> corporations, any other form of ownership interest; or<br>		{{ISDA Master Agreement 2002 Designated Event}}