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===Repackaging vehicles and the Single Agreement=== | ====Repackaging vehicles and the Single Agreement==== | ||
Okay, do not adjust the [[Single Agreement]] provision ''unless'' you are writing an {{isdama}} for a [[repackaging vehicle]] issuing segregated, secured, [[limited recourse]] obligations. In that case you — and here I am supposing that “you” are the [[inhouse legal eagle]] at the arranging bank, or someone advising her — will have multiple ISDA Transactions ''nominally'' between the same two entities — your employer and the [[SPV]] — but economically being totally distinct, relating as they do to discrete ring-fenced “Series” issued by the [[SPV]] and you absolutely do ''not'' want these to form a [[single agreement]] with each other, or net, or do anything ostensibly desirable like that. | Okay, do not adjust the [[Single Agreement]] provision ''unless'' you are writing an {{isdama}} for a [[repackaging vehicle]] issuing segregated, secured, [[limited recourse]] obligations. In that case you — and here I am supposing that “you” are the [[inhouse legal eagle]] at the arranging bank, or someone advising her — will have multiple ISDA Transactions ''nominally'' between the same two entities — your employer and the [[SPV]] — but economically being totally distinct, relating as they do to discrete ring-fenced “Series” issued by the [[SPV]] and you absolutely do ''not'' want these to form a [[single agreement]] with each other, or net, or do anything ostensibly desirable like that. | ||