Template:Nutshell 2002 ISDA 5(a)(ii): Difference between revisions
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“'''{{isdaprov|Breach of Agreement}}'''” means: <br> | {{isdaprov|5(a)(ii)}} “'''{{isdaprov|Breach of Agreement}}'''” means: <br> | ||
(1) a party fails to perform any obligation under the Agreement and doesn’t remedy the failure within 30 days of notice by the other party ''other than'' the following: | (1) a party fails to perform any obligation under the Agreement and doesn’t remedy the failure within 30 days of notice by the other party ''other than'' the following: | ||
*a {{isdaprov|Failure to Pay or Deliver}} | *a {{isdaprov|Failure to Pay or Deliver}} | ||
| Line 5: | Line 5: | ||
*not providing any necessary tax documents | *not providing any necessary tax documents | ||
*any tax representations not being true | *any tax representations not being true | ||
(2) a party [[Repudiate|repudiates]] or challenges the validity of, this {{isdama}}, any {{isdaprov|Confirmation}} or any {{isdaprov|Transaction}}. | (2) a party [[Repudiate|repudiates]] or challenges the validity of, this {{isdama}}, any {{isdaprov|Confirmation}} or any {{isdaprov|Transaction}}. <br> | ||
Revision as of 13:45, 3 October 2017
5(a)(ii) “Breach of Agreement” means:
(1) a party fails to perform any obligation under the Agreement and doesn’t remedy the failure within 30 days of notice by the other party other than the following:
- a Failure to Pay or Deliver
- giving notice of a Termination Event or
- not providing any necessary tax documents
- any tax representations not being true
(2) a party repudiates or challenges the validity of, this ISDA Master Agreement, any Confirmation or any Transaction.