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| [[4.5 - Credit Derivatives Provision|Note]] the contraction in scope brought about by the [[narrowly-tailored credit event]] annex. | | [[4.5 - Credit Derivatives Provision|Note]] the contraction in scope brought about by the [[narrowly-tailored credit event]] annex. |
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| ===Differences with Section {{isdaprov|5(a)(i)}}===
| | {{Failure to pay comparison}} |
| *'''Threshold''': There is a {{cddprov|Payment Obligation}} meaning that the payment has to exceed a threshold. Presumably one indicative of the Reference Entity’s general financial parlousness, but the parties are free to set it where they like. In this regard redolent of {{isdaprov|Cross Default}}.
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| *'''Agregation''': Also like {{isdaprov|Cross Default}}, it contemplates an aggregation of multiple failures perhaps under several {{cddprov|Obligations}}. Depending on how constrained your Obligations are — usually more so than {{isdaprov|Specified Indebtedness}}, which is usually [[borrowed money]] and may even be (unwisely, but still) widened from that.
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