Template:Nutshell 2002 ISDA 5(a)(v)
Jump to navigation
Jump to search
- 5(a)(v) Default Under Specified Transaction. The party or any of its Credit Support Providers or Specified Entities:―
- (1) defaults on any payment due under a Specified Transaction (or any related credit support arrangement) and as a result that Specified Transaction is validly accelerated (taking account of any grace periods);
- (2) defaults on any final payment due under a Specified Transaction after taking account of any grace periods (or, if none, after one Local Business Day);
- (3) defaults on any delivery due under a Specified Transaction (or any related credit support arrangement) and, all Transactions under the relevant Master Agreement are validly accelerated (taking account of any grace periods); or
- (4) repudiates any Specified Transaction (or any related credit support arrangement);