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

{{isdaprov|5(e)}} '''{{isdaprov|Inability of Head or Home Office to Perform Obligations of Branch}} '''. If (i) an {{isdaprov|Illegality}} or a {{isdaprov|Force Majeure Event}} occurs under Section {{isdaprov|5(b)(i)(1)}} or {{isdaprov|5(b)(ii)(1)}} and the relevant Office is not the {{isdaprov|Affected Party}}’s head or home office, (ii) Section {{isdaprov|10(a)}} applies, (iii) the other party seeks performance of the relevant obligation or compliance with the relevant provision by the {{isdaprov|Affected Party}}’s head or home office and (iv) the {{isdaprov|Affected Party}}’s head or home office fails so to perform or comply due to the occurrence of an event or circumstance which would, if that head or home office were the {{isdaprov|Office}} through which the {{isdaprov|Affected Party}} makes and receives payments and deliveries with respect to the relevant Transaction, constitute or give rise to an Illegality or a {{isdaprov|Force Majeure Event}} , and such failure would otherwise constitute an {{isdaprov|Event of Default}} under Section {{isdaprov|5(a)(i)}} or {{isdaprov|5(a)(iii)(1)}} with respect to such party, then, for so long as the relevant event or circumstance continues to exist with respect to both the {{isdaprov|Office}} referred to in Section {{isdaprov|5(b)(i)(1)}} or {{isdaprov|5(b)(ii)(1)}} , as the case may be, and the {{isdaprov|Affected Party}}’s head or home office, such failure will not constitute an {{isdaprov|Event of Default}} under Section {{isdaprov|5(a)(i)}} or {{isdaprov|5(a)(iii)(1)}} .