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Template:Nutshell 2002 ISDA 6(b)(iv): Difference between revisions
Template:Nutshell 2002 ISDA 6(b)(iv) (view source)
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:{{isdaprov|6(b)(iv)}} '''{{isdaprov|Right to Terminate}}''' | :{{isdaprov|6(b)(iv)}} '''{{isdaprov|Right to Terminate}}''' | ||
:(1) '''{{isdaprov|Termination Event}}s other than {{isdaprov|Illegality}} and {{isdaprov|Force Majeure Event}}s''': If the {{isdaprov|Termination Event}} still exists but:― | :(1) '''{{isdaprov|Termination Event}}s other than {{isdaprov|Illegality}} and {{isdaprov|Force Majeure Event}}s''': If the {{isdaprov|Termination Event}} still exists but:― | ||
::(A) '''Tax {{isdaprov|Termination Event}}s''': a neither party has managed to avoid a {{isdaprov|Tax Event}} or {{isdaprov|Tax Event Upon Merger}} as contemplated in Section {{isdaprov|6(b)(ii)}} or {{isdaprov|6(b)(iii)}} within 30 days of a {{isdaprov| | ::(A) '''Tax {{isdaprov|Termination Event}}s''': a neither party has managed to avoid a {{isdaprov|Tax Event}} or {{isdaprov|Tax Event Upon Merger}} as contemplated in Section {{isdaprov|6(b)(ii)}} or {{isdaprov|6(b)(iii)}} within 30 days of a {{isdaprov|Termination Event Notice}}; or | ||
::(B) '''Other {{isdaprov|Termination Event}}s''': there is a {{isdaprov|Credit Event Upon Merger}}, an {{isdaprov|Additional Termination Event}} or a {{isdaprov|Tax Event Upon Merger}} where the {{isdaprov|Burdened Party}} is not the {{isdaprov|Affected Party}}: | ::(B) '''Other {{isdaprov|Termination Event}}s''': there is a {{isdaprov|Credit Event Upon Merger}}, an {{isdaprov|Additional Termination Event}} or a {{isdaprov|Tax Event Upon Merger}} where the {{isdaprov|Burdened Party}} is not the {{isdaprov|Affected Party}}: | ||
:either party (if both are {{isdaprov|Affected Parties}}) or the {{isdaprov| | :either party (if both are {{isdaprov|Affected Parties}}) or the {{isdaprov|Non-Affected Party}} (in any other case) may, on not more than 20 days’ notice, designate an {{isdaprov|Early Termination Date}} for ''all'' {{isdaprov|Affected Transactions}}. | ||
:(2) '''{{isdaprov|Illegality}} and {{isdaprov|Force Majeure Event}}s''': If an {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}} still exists when its {{isdaprov|Waiting Period}} has expired:― | :(2) '''{{isdaprov|Illegality}} and {{isdaprov|Force Majeure Event}}s''': If an {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}} still exists when its {{isdaprov|Waiting Period}} has expired:― | ||
::(A) Subject to clause (B) below, ''either'' party may, on not more than 20 days’ notice, designate an {{isdaprov|Early Termination Date}}: | ::(A) Subject to clause (B) below, ''either'' party may, on not more than 20 days’ notice, designate an {{isdaprov|Early Termination Date}}: | ||