Template:Nutshell Credit Derivatives 4.6: Difference between revisions

::(ii) if they do not include {{cddprov|Bond}}s, 60 days after the {{cddprov|Potential Repudiation/Moratorium}} date; provided that, unless the {{cddprov|Repudiation/Moratorium Extension Condition}} is satisfied the {{cddprov|Repudiation/Moratorium Evaluation Date}} must occur by the {{cddprov|Scheduled Termination Date}}.<br>

:(c) “'''{{cddprov|Potential Repudiation/Moratorium}}'''” means the occurrence of an event described in Section {{cddprov|4.6}}(a)(i).<br>

:(d) The “'''{{cddprov|Repudiation/Moratorium Extension Condition}}'''” is satisfied (i) if the {{cddprov|DC Secretary}} publicly announces, pursuant to a valid request that was delivered and effectively received on or prior to the date that is fourteen calendar days after the {{cddprov|Scheduled Termination Date}}, that the relevant {{cddprov|Credit Derivatives Determinations Committee}} has {{cddprov|Resolved}} that an event that constitutes a {{cddprov|Potential Repudiation/Moratorium}} for purposes of the relevant {{cddprov|Credit Derivative Transaction}} has occurred with respect to an Obligation of the {{cddprov|Reference Entity}} and that such event occurred on or prior to the {{cddprov|Scheduled Termination Date}}, or (ii) otherwise, by the delivery by the {{cddprov|Notifying Party}} to the other party of a {{cddprov|Repudiation/Moratorium Extension Notice}} and, unless “'''{{cddprov|Notice of Publicly Available Information}}'''” is specified as not applicable in the related Confirmation, a {{cddprov|Notice of Publicly Available Information}} that are each effective on or prior to the date that is fourteen calendar days after the {{cddprov|Scheduled Termination Date}}. In all cases, the {{cddprov|Repudiation/Moratorium Extension Condition}} will be deemed not to have been satisfied, or not capable of being satisfied, if, or to the extent that, the {{cddprov|DC Secretary}} publicly announces that the relevant {{cddprov|Credit Derivatives Determinations Committee}} has {{cddprov|Resolved}} that either (A) an event does not constitute a {{cddprov|Potential Repudiation/Moratorium}} for purposes of the relevant {{cddprov|Credit Derivative Transaction}} with respect to an Obligation of the {{cddprov|Reference Entity}}, or (B) an event that constitutes a {{cddprov|Potential Repudiation/Moratorium}} for purposes of the relevant {{cddprov|Credit Derivative Transaction}} has occurred with respect to an Obligation of the {{cddprov|Reference Entity}} but that such event occurred after the {{cddprov|Scheduled Termination Date}} .<br>

:(e) “'''{{cddprov|Repudiation/Moratorium Extension Notice}}'''” means an irrevocable notice from the {{cddprov|Notifying Party}} to the other party that describes a {{cddprov|Potential Repudiation/Moratorium}} that occurred on or prior to the {{cddprov|Scheduled Termination Date}} . A {{cddprov|Repudiation/Moratorium Extension Notice}} must contain a description in reasonable detail of the facts relevant to the determination that a {{cddprov|Potential Repudiation/Moratorium}} has occurred and indicate the date of the occurrence. The {{cddprov|Potential Repudiation/Moratorium}} that is the subject of the {{cddprov|Repudiation/Moratorium Extension Notice}} need not be continuing on the date the {{cddprov|Repudiation/Moratorium Extension Notice}} is effective. A form of {{cddprov|Repudiation/Moratorium Extension Notice}} is set forth in Exhibit D.<br>