Template:Nutshell 1992 ISDA 5(a)(vi)

From The Jolly Contrarian
Jump to navigation Jump to search

5(a)(vi) Cross Default. If “Cross Default” applies it will be an Event of Default if:

(1) a party (or its Credit Support Provider or any Specified Entity) commits an event of default in a total amount greater than the Threshold Amount under any Specified Indebtedness; or
(2) it defaults (and any grace period expires) on any payment of Specified Indebtedness in a total amount greater than the Threshold Amount;