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

5(d) {{isdaprov|Deferral of Payments and Deliveries During Waiting Period}}. If an {{isdaprov|Illegality}} or a {{isdaprov|Force Majeure Event}} has <br>occurred and is continuing with respect to a {{isdaprov|Transaction}}, each payment or delivery which would otherwise be <br>required to be made under that {{isdaprov|Transaction}} will be deferred to, and will not be due until:― <br>

:5(d)(i) the first {{isdaprov|Local Business Day}} or, in the case of a delivery, the first {{isdaprov|Local Delivery Day}} (or the first <br>day that would have been a {{isdaprov|Local Business Day}} or {{isdaprov|Local Delivery Day}}, as appropriate, but for the <br>occurrence of the event or circumstance constituting or giving rise to that {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}}) <br>following the end of any applicable {{isdaprov|Waiting Period}} in respect of that {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}}, as <br>the case may be; or <br>

:5(d)(ii) if earlier, the date on which the event or circumstance constituting or giving rise to that {{isdaprov|Illegality}} or <br>{{isdaprov|Force Majeure Event}} ceases to exist or, if such date is not a {{isdaprov|Local Business Day}} or, in the case of a delivery, <br>a {{isdaprov|Local Delivery Day}}, the first following day that is a {{isdaprov|Local Business Day}} or Local {{isdaprov|Delivery Day}}, as <br>appropriate. <br>