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Template:Nutshell Credit Derivatives 3.32: Difference between revisions
Template:Nutshell Credit Derivatives 3.32 (view source)
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::(ii) “'''{{cddprov|Mod Mod R}}'''” applies and | ::(ii) “'''{{cddprov|Mod Mod R}}'''” applies and | ||
::(iii) only {{cddprov|Restructuring}} is specified in a {{cddprov|Credit Event Notice}} delivered by {{cddprov|Buyer}}, | ::(iii) only {{cddprov|Restructuring}} is specified in a {{cddprov|Credit Event Notice}} delivered by {{cddprov|Buyer}}, | ||
::then unless the {{cddprov|Deliverable Obligation}} is a {{cddprov|Prior Deliverable Obligation}} and {{cddprov|Asset Package Delivery}} applies due to a {{cddprov|Governmental Intervention}}, a {{cddprov|Deliverable Obligation}} may only be specified in the {{cddprov|Notice of Physical Settlement}} or {{cddprov|NOPS Amendment Notice}}, if it | ::then unless the {{cddprov|Deliverable Obligation}} is a {{cddprov|Prior Deliverable Obligation}} and {{cddprov|Asset Package Delivery}} applies due to a {{cddprov|Governmental Intervention}}, | ||
::a {{cddprov|Deliverable Obligation}} may only be specified in the {{cddprov|Notice of Physical Settlement}} or {{cddprov|NOPS Amendment Notice}}, if it | |||
::(A) is a {{cddprov|Conditionally Transferable Obligation}} and | |||
::(B) has a final maturity date not later than the applicable {{cddprov|Modified Restructuring Maturity Limitation Date}}, in each case, as of both the {{cddprov|NOPS Effective Date}} and the {{cddprov|Delivery Date}}. | |||
::A {{cddprov|Restructured Bond or Loan}} whose revised final maturity date falls by the 10 year {{cddprov|Limitation Date}}, its final maturity date will be treated for the purposes of Section {{cddprov|3.32}}(a) as the earlier of the revised date and its prevailing final maturity date before the {{cddprov|Restructuring}}.<br> | ::A {{cddprov|Restructured Bond or Loan}} whose revised final maturity date falls by the 10 year {{cddprov|Limitation Date}}, its final maturity date will be treated for the purposes of Section {{cddprov|3.32}}(a) as the earlier of the revised date and its prevailing final maturity date before the {{cddprov|Restructuring}}.<br> | ||
:(b) “'''{{cddprov|Conditionally Transferable Obligation}}'''” means a {{cddprov|Deliverable Obligation}} that is a {{cddprov|Transferable}} {{cddprov|Bond}} or is otherwise able to be transferred to all {{cddprov|Modified Eligible Transferee}}s without consent, as of the {{cddprov|NOPS Effective Date}} and the {{cddprov|Delivery Date}}, provided, however, that a non-{{cddprov|Bond}} {{cddprov|Deliverable Obligation}} will be a {{cddprov|Conditionally Transferable Obligation}} even though consent of the {{cddprov|Reference Entity}} or any relevant guarantor is required but may not be unreasonably withheld or delayed. Any requirement that notification of transfer be provided to a trustee or agent for a {{cddprov|Deliverable Obligation}} is not a “requirement for consent” under Section {{cddprov|3.32}}(b).<br> | :(b) “'''{{cddprov|Conditionally Transferable Obligation}}'''” means a {{cddprov|Deliverable Obligation}} that is a {{cddprov|Transferable}} {{cddprov|Bond}} or is otherwise able to be transferred to all {{cddprov|Modified Eligible Transferee}}s without consent, as of the {{cddprov|NOPS Effective Date}} and the {{cddprov|Delivery Date}}, provided, however, that a non-{{cddprov|Bond}} {{cddprov|Deliverable Obligation}} will be a {{cddprov|Conditionally Transferable Obligation}} even though consent of the {{cddprov|Reference Entity}} or any relevant guarantor is required but may not be unreasonably withheld or delayed. Any requirement that notification of transfer be provided to a trustee or agent for a {{cddprov|Deliverable Obligation}} is not a “requirement for consent” under Section {{cddprov|3.32}}(b).<br> | ||