Template:Specified Information and Breach of Agreement: Difference between revisions

Template:Specified Information and Breach of Agreement (view source)

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 ==== Not providing {{isdaprov|documents for delivery}} is an {{isdaprov|Event of Default}} ====
-The significance of the [[documents for delivery]] is rendered as follows:
+The importance of promptly furnishing<ref>Sigh. ''Sending''. </ref> the [[documents for delivery]] goes as follows:
-*By dint of Section 4(a) of the {{isdama}} the parties agree to furnish each other Specified Information.
+*By dint of Section {{isdaprov|4(a)}} you agree to furnish each other {{isdaprov|Specified Information}} set out in {{isdaprov|Part 3}} of the {{isdaprov|Schedule}}.
-*By dint of Section 5(a)(ii) a failure, to furnish the Specified Information set out, per Section {{isdaprov|4(a)(i)(ii)}}, in {{isdaprov|Part 3}} of the {{isdaprov|Schedule}} amounts to a {{isdaprov|Breach of Agreement}} {{isdaprov|Event of Default}} under Section {{isdaprov|5(a)(ii)}}. (Note that this conclusion requires pursuit of a tortured chain of nested [[double negative|double negatives]] and careful parsing of interplay between Sections {{isdaprov|4(a)}} and {{isdaprov|5(a)(ii)}}.
+*By dint of Section {{isdaprov|5(a)(ii)}} if you ''don’t'' then that can be a {{isdaprov|Breach of Agreement}} {{isdaprov|Event of Default}} under Section {{isdaprov|5(a)(ii)}}. (Note you must pursue a tortured chain of nested [[double negative|double negatives]] and carefully parsing of interplay between Sections {{isdaprov|4(a)}} and {{isdaprov|5(a)(ii)}} to grasp this.)
-*However, there is a ''thirty day'' [[grace period]] for {{isdaprov|Events of Default}} which are only {{isdaprov|Breaches of Agreement}} (a {{isdaprov|Failure to Pay or Deliver}} is excluded from that definition, by the way, because it has its own EOD with a much tighter grace period).
+*However, there is a ''thirty day'' [[grace period]] following notice before {{isdaprov|Breaches of Agreement}} is an official {{isdaprov|Event of Default}}. (A {{isdaprov|Failure to Pay or Deliver}} is excluded from that definition, by the way, because it has its own [[EOD]] with a much tighter [[grace period]]).
-*So if you really want that document urgently, and waiting 30 days won't cut it (it might not if it is a monthly [[NAV]] statement, for example) then you need to upgrade the failure to “furnish” to an {{isdaprov|Additional Termination Event}}.
+*So if you need that document urgently and can’t wait a month for it (it might not if you are a [[credit officer]] and it is a monthly [[NAV]] statement, for example) then you must upgrade failure to “furnish” this agreement to an {{isdaprov|Additional Termination Event}}.