Template:Nutshell 2018 CSD 13(h): Difference between revisions

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(Created page with "{{imcsdprov|13(h)}} “'''{{imcsdprov|Secured Party Rights Event}}'''” means: :(i) an {{isdaprov|Early Termination Date}} in respect of all {{isdaprov|Transaction}}s happens...")
 
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:the {{imcsdprov|Chargor}} is subject to an ongoing {{isdaprov|Event of Default}} and its Section {{isdaprov|6(e)}} payment obligation for an {{isdaprov|Early Termination Date}} for all {{isdaprov|Transaction}}s ''[umm something seems to be missing here?]'':  
:the {{imcsdprov|Chargor}} is subject to an ongoing {{isdaprov|Event of Default}} and its Section {{isdaprov|6(e)}} payment obligation for an {{isdaprov|Early Termination Date}} for all {{isdaprov|Transaction}}s ''[umm something seems to be missing here?]'':  


**{{imcsdprov|Failure to Pay Early Termination Amount}} [applies][does not apply].
:*{{imcsdprov|Failure to Pay Early Termination Amount}} [applies][does not apply].


:[(iii)] if “'''{{imcsdprov|Control Agreement Secured Party Rights Event}}'''” applies to a party as {{imcsdprov|Chargor}}, a “{{imcsdprov|Secured Party Rights Event}}” will only occur {{imcsdprov|Secured Party}} is contractually entitled to exercise exclusive control of the {{imcsdprov|Posted Credit Support (IM)}} :
:[(iii)] if “'''{{imcsdprov|Control Agreement Secured Party Rights Event}}'''” applies to a party as {{imcsdprov|Chargor}}, a “{{imcsdprov|Secured Party Rights Event}}” will only occur {{imcsdprov|Secured Party}} is contractually entitled to exercise exclusive control of the {{imcsdprov|Posted Credit Support (IM)}} :
:*{{isdaprov|Party A}} as {{imcsdprov|Chargor}}, {{isdaprov|Party B}} as {{imcsdprov|Secured Party}}: {{imcsdprov|Control Agreement Secured Party Rights Event}} [applies][does not apply].
:*{{isdaprov|Party A}} as {{imcsdprov|Chargor}}, {{isdaprov|Party B}} as {{imcsdprov|Secured Party}}: {{imcsdprov|Control Agreement Secured Party Rights Event}} [applies][does not apply].
:*{{isdaprov|Party B}} as {{imcsdprov|Chargor}} and {{isdaprov|Party A}} as {{imcsdprov|Secured Party}}: {{imcsdprov|Control Agreement Secured Party Rights Event}} is:  [applies][does not apply].
:*{{isdaprov|Party B}} as {{imcsdprov|Chargor}} and {{isdaprov|Party A}} as {{imcsdprov|Secured Party}}: {{imcsdprov|Control Agreement Secured Party Rights Event}} is:  [applies][does not apply].

Revision as of 13:43, 23 July 2021

13(h) “Secured Party Rights Event” means:

(i) an Early Termination Date in respect of all Transactions happens because of an Event of Default or Access Condition for the Chargor [and the Chargor has not paid its Obligations in full when due]; or
(ii) if “Failure to Pay Early Termination Amount” applies,
the Chargor is subject to an ongoing Event of Default and its Section 6(e) payment obligation for an Early Termination Date for all Transactions [umm something seems to be missing here?]:
[(iii)] if “Control Agreement Secured Party Rights Event” applies to a party as Chargor, a “Secured Party Rights Event” will only occur Secured Party is contractually entitled to exercise exclusive control of the Posted Credit Support (IM) :
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