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 [[breach]]es any of its obligations under the {{isdaprov|Agreement}} and doesn’t remedy the breach within 30 days of the other party’s notice ''other than'' the following:
*a {{isdaprov|Failure to Pay or Deliver}}  
:::(a) a {{isdaprov|Failure to Pay or Deliver}};
*giving notice of a {{isdaprov|Termination Event}} or
:::(b) owning up to a {{isdaprov|Termination Event}};
*not providing any necessary tax documents
:::(c) not providing any necessary tax documents;
*any tax representations not being true  
:::(d) any of its tax representations not being true; or
(2) a party [[Repudiate|repudiates]] or challenges the validity of, this {{isdama}}, any {{isdaprov|Confirmation}} or any {{isdaprov|Transaction}}.
::(2) a party [[Repudiate|repudiates]] this {{isdama}} or any {{isdaprov|Transaction}}. <br>

Latest revision as of 08:45, 13 April 2020

5(a)(ii)Breach of Agreement” means:
(1) a party breaches any of its obligations under the Agreement and doesn’t remedy the breach within 30 days of the other party’s notice other than the following:
(a) a Failure to Pay or Deliver;
(b) owning up to a Termination Event;
(c) not providing any necessary tax documents;
(d) any of its tax representations not being true; or
(2) a party repudiates this ISDA Master Agreement or any Transaction.