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Template:M summ 1992 ISDA 5(b)(i): Difference between revisions
Template:M summ 1992 ISDA 5(b)(i) (view source)
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Amwelladmin (talk | contribs) (Created page with "==1992 User Guide== Section {{isda92prov|5(b)(i)}} provides that a {{isda92prov|Termination Event}} will occur if it becomes unlawful for a party (or if relevant its {{isda92p...") |
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==1992 User Guide== | {{isda Illegality summ|isda92prov}} | ||
====1992 User Guide==== | |||
Section {{isda92prov|5(b)(i)}} provides that a {{isda92prov|Termination Event}} will occur if it becomes unlawful for a party (or if relevant its {{isda92prov|Credit Support Provider}}) to: | Section {{isda92prov|5(b)(i)}} provides that a {{isda92prov|Termination Event}} will occur if it becomes unlawful for a party (or if relevant its {{isda92prov|Credit Support Provider}}) to: | ||
*make or receive a payment or delivery | *make or receive a payment or delivery | ||
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This {{isda92prov|Termination Event}} has been modified from the {{1987ma}} to refer to physically-settled transactions and to replace the reference to “{{isda92prov|Specified Entity}}” in the corresponding provision of the {{1987ma}} with “{{isda92prov|Credit Support Provider}}” because clause (2) of {{isda92prov|Illegality}} relates to {{isda92prov|Credit Support Document}}s. | This {{isda92prov|Termination Event}} has been modified from the {{1987ma}} to refer to physically-settled transactions and to replace the reference to “{{isda92prov|Specified Entity}}” in the corresponding provision of the {{1987ma}} with “{{isda92prov|Credit Support Provider}}” because clause (2) of {{isda92prov|Illegality}} relates to {{isda92prov|Credit Support Document}}s. | ||
Section {{isda92prov|5(c)}} | Section {{isda92prov|5(c)}} provides that an {{isda92prov|Event of Default}} with is also an {{isda92prov|Illegality}} will be treated as an {{isda92prov|Illegality}}. | ||