Template:ISDA Master Agreement 2002 6(a): Difference between revisions

Template:ISDA Master Agreement 2002 6(a) (view source)

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Revision as of 12:25, 10 August 2012 (view source) Amwelladmin (talk \| contribs) (Created page with "{{isdaprov\|6(a)}} {{isdaprov\|Right to Terminate Following Event of Default}}. If at any time an {{isdaprov\|Event of Default}} with respect to a party <br>(the “{{isdaprov\|De...")		Revision as of 12:25, 10 August 2012 (view source) Amwelladmin (talk \| contribs) No edit summary Newer edit →
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	{{isdaprov\|6(a)}} {{isdaprov\|Right to Terminate Following Event of Default}}. If at any time an {{isdaprov\|Event of Default}} with respect to a party <br>(the “{{isdaprov\|Defaulting Party}}”) has occurred and is then continuing, the other party (the “{{isdaprov\|Non-defaulting Party}}”) may, by not <br>more than 20 days notice to the {{isdaprov\|Defaulting Party}} specifying the relevant {{isdaprov\|Event of Default}}, designate a day not earlier <br>than the day such notice is effective as an {{isdaprov\|Early Termination Date}} in respect of all outstanding {{isdaprov\|Transactions}}. If, <br>however, “{{isdaprov\|Automatic Early Termination}}” is specified in the Schedule as applying to a party, then an Early <br>Termination Date in respect of all outstanding {{isdaprov\|Transactions}} will occur immediately upon the occurrence with respect <br>to such party of an {{isdaprov\|Event of Default}} specified in Section {{isdaprov\|5(a)(vii)}}(1), (3), (5), (6) or, to the extent analogous thereto, <br>(8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the <br>relevant petition upon the occurrence with respect to such party of an {{isdaprov\|Event of Default}} specified in <br>Section {{isdaprov\|5(a)(vii)}}(4) or, to the extent analogous thereto, (8).		{{isdaprov\|6(a)}} '''{{isdaprov\|Right to Terminate Following Event of Default}}'''. If at any time an {{isdaprov\|Event of Default}} with respect to a party <br>(the “{{isdaprov\|Defaulting Party}}”) has occurred and is then continuing, the other party (the “{{isdaprov\|Non-defaulting Party}}”) may, by not <br>more than 20 days notice to the {{isdaprov\|Defaulting Party}} specifying the relevant {{isdaprov\|Event of Default}}, designate a day not earlier <br>than the day such notice is effective as an {{isdaprov\|Early Termination Date}} in respect of all outstanding {{isdaprov\|Transactions}}. If, <br>however, “{{isdaprov\|Automatic Early Termination}}” is specified in the Schedule as applying to a party, then an Early <br>Termination Date in respect of all outstanding {{isdaprov\|Transactions}} will occur immediately upon the occurrence with respect <br>to such party of an {{isdaprov\|Event of Default}} specified in Section {{isdaprov\|5(a)(vii)}}(1), (3), (5), (6) or, to the extent analogous thereto, <br>(8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the <br>relevant petition upon the occurrence with respect to such party of an {{isdaprov\|Event of Default}} specified in <br>Section {{isdaprov\|5(a)(vii)}}(4) or, to the extent analogous thereto, (8).