Template:M summ 1992 ISDA Specified Transaction

We are going to go out on a limb here and say that little parenthetical “(including an agreement with respect thereto)” is, if not deliberately designed that way, is at least calculated[1] to capture the Credit Support Annex which, yes, is a Transaction under an ISDA Master Agreement but no, is not really a swap or anything really like one. There is enough chat about Credit support Providers (yes, yes, the counterparty itself is of course not a Credit support Provider) to make us think, on a fair, large and liberal interpretation, that a default under the CSA to a swap Transaction is meant to be covered.

  1. In the sense of being “likely”.