Template:M gen 2002 ISDA 3(a)
3(a)(v) Obligations Binding
“any Credit Support Document to which it is a party”: Business at the front; party at the back.
Now given that a Credit Support Document will generally be a deed of guarantee, letter of credit or some other third party form of credit assurance from a, you know, third party to which a Party in whose favour it is provided will not be a “party” — and no, an 1995 CSA is not a Credit Support Document, however much it might sound like one[1], one might wonder what the point would be of mentioning, in this sub-section, Credit Support Documents to which a Party is party.
Well — and this might come as a surprise if you’re an ISDA ingénue; old lags won’t bat an eyelid — there isn’t much point.
But does anyone, other than the most insufferable pedant, really care? I mean why would you write a snippy wiki article about some fluffy but fundamentally harmless language unless you were a stone-cold bore?
Hang on: Why are you looking at me like that?
- ↑ Of course, the 1994 New York law CSA is a Credit Support Document. Because it just is.