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Template:Nutshell 2002 ISDA 5(a)(vi): Difference between revisions
Template:Nutshell 2002 ISDA 5(a)(vi) (view source)
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{{isdaprov|5(a)(vi)}} {{isdaprov|Cross-Default}}. If "Cross-Default" applies to a party it will be an {{isdaprov|Event of Default}} if: | {{isdaprov|5(a)(vi)}} {{isdaprov|Cross-Default}}. If "Cross-Default" applies to a party it will be an {{isdaprov|Event of Default}} if: | ||
:(1) any agreements it has for {{isdaprov|Specified Indebtedness}} become capable of acceleration; or | :(1) any agreements it has for {{isdaprov|Specified Indebtedness}} become capable of acceleration; or | ||
:(2) it defaults ( | :(2) it defaults (and any [[grace period]] expires) on any payment of {{isdaprov|Specified Indebtedness}} ; | ||
:And the total of the agreement principal amounts in (1) and the payment amounts in (2) exceeds the {{isdaprov|Threshold Amount}}. | :And the total of the agreement principal amounts in (1) and the payment amounts in (2) exceeds the {{isdaprov|Threshold Amount}}. | ||