Template:M comp disc 2002 ISDA 5(b)(v): Difference between revisions

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(Replaced content with "{{isda Credit Event Upon Merger comp|isdaprov}}")
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{{ISDAnumberingdiscrepancy}} - Section {{isdaprov|5(a)(viii)}} is {{isdaprov|Merger Without Assumption}}.
{{isda Credit Event Upon Merger comp|isdaprov}}
 
==={{1992ma}} upgrade===
Even before the {{2002ma}} was published it was common to upgrade the {{1992ma}} formulation to something resembling the glorious concoction that became Section {{isdaprov|5(b)(v)}} of the {{2002ma}}. The 1992 wording is a bit lame, really. See the panel below right for a snapshot of the difference
 
On the other hand, you could count the number of times an {{isdama}} is closed out on account of {{isdaprov|Credit Event Upon Merger}} on the fingers of one hand, even if you had lost all the fingers on that hand to an industrial accident. So — yeah.

Revision as of 22:23, 13 October 2023

Credit Event Upon Merger: The 2002 ISDA introduced the concept of the “Designated Event”, which was an attempt to define more forensically the sorts of corporate events that should be covered by CEUM. They are notoriously difficult to pin down. Even before the 2002 ISDA was published, it was common to upgrade the 1992 ISDA formulation to something resembling the glorious concoction that became Section 5(b)(v) of the 2002 ISDA. The 1992 wording is a bit lame. On the other hand, you could count the number of times an ISDA Master Agreement is closed out purely on account of Credit Event Upon Merger on the fingers of one hand, even if you had lost all the fingers on that hand to an industrial accident. So — yeah.

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