Template:ISDA Master Agreement 2002 Waiting Period: Difference between revisions
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“'''{{isdaprov|Waiting Period}}'''” means:―<br> | “'''{{isdaprov|Waiting Period}}'''” means:― <br> | ||
:(a) in respect of an event or circumstance under Section {{isdaprov|5(b)(i)}}, other than in the case of Section {{isdaprov|5(b)(i)(2)}} where the relevant payment, delivery or compliance is actually required on the relevant day (in which case no {{isdaprov|Waiting Period}} will apply), a period of three {{isdaprov|Local Business Days}} (or days that would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event or circumstance; and <br> | |||
(b) in respect of an event or circumstance under Section {{isdaprov|5(b)(ii)}}, other than in the case of Section {{isdaprov|5(b)(ii)(2)}} | :(b) in respect of an event or circumstance under Section {{isdaprov|5(b)(ii)}}, other than in the case of Section {{isdaprov|5(b)(ii)(2)}} where the relevant payment, delivery or compliance is actually required on the relevant day (in which case no {{isdaprov|Waiting Period}} will apply), a period of eight {{isdaprov|Local Business Days}} (or days that would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event or circumstance. <br> | ||
Latest revision as of 12:18, 6 August 2018
“Waiting Period” means:―
- (a) in respect of an event or circumstance under Section 5(b)(i), other than in the case of Section 5(b)(i)(2) where the relevant payment, delivery or compliance is actually required on the relevant day (in which case no Waiting Period will apply), a period of three Local Business Days (or days that would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event or circumstance; and
- (b) in respect of an event or circumstance under Section 5(b)(ii), other than in the case of Section 5(b)(ii)(2) where the relevant payment, delivery or compliance is actually required on the relevant day (in which case no Waiting Period will apply), a period of eight Local Business Days (or days that would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event or circumstance.