Template:Nutshell 2002 ISDA 5(a)(vi): Difference between revisions

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5(a)(vi) Cross-Default. If “Cross-Default” applies to a party, it will be an Event of Default if:

(1) any agreements it has for Specified Indebtedness become capable of acceleration; or
(2) it defaults (and any grace period expires) on any payment of Specified Indebtedness ;
And the total of the agreement principal amounts in (1) and the payment amounts in (2) exceeds the Threshold Amount.
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