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Template:Nutshell 1992 ISDA 5(a)(vi): Difference between revisions
Template:Nutshell 1992 ISDA 5(a)(vi) (view source)
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{{92isdaprov|5(a)(vi)}} '''{{92isdaprov|Cross Default}}'''. If "{{92isdaprov|Cross-Default}}" applies it will be an {{92isdaprov|Event of Default}} if: | {{92isdaprov|5(a)(vi)}} '''{{92isdaprov|Cross Default}}'''. If "{{92isdaprov|Cross-Default}}" applies it will be an {{92isdaprov|Event of Default}} if: | ||
:(1) a party commits an event of default | :(1) a party commits an [[event of default]] in a total amount greater than the {{92isdaprov|Threshold Amount}} under any {{92isdaprov|Specified Indebtedness}}; or | ||
:(2) it defaults (and any [[grace period]] expires) on any payment of {{92isdaprov|Specified Indebtedness}} in a total amount greater than the {{92isdaprov|Threshold Amount}}; | :(2) it defaults (and any [[grace period]] expires) on any payment of {{92isdaprov|Specified Indebtedness}} in a total amount greater than the {{92isdaprov|Threshold Amount}}; | ||