Waiting Period - ISDA Provision

2002 ISDA Master Agreement
A Jolly Contrarian owner’s manual™

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Section Waiting Period in a Nutshell™

Use at your own risk, campers!

“Waiting Period” means:― (a) for an Illegality (other than where performance under a Credit Support Document is required on the relevant day (here no Waiting Period will apply), three Local Business Days after the Illegality happened; and (b) for a Force Majeure Event (other than where performance under a Credit Support Document is required on the relevant day (here no Waiting Period will apply), eight Local Business Days after the Illegality happened. view template

Full text of Section Waiting Period

“Waiting Period” means:― (a) in respect of an event or circumstance under Section 5(b)(i), other than in the case of Section 5(b)(i)(2) where the relevant payment, delivery or compliance is actually required on the relevant day (in which case no Waiting Period will apply), a period of three Local Business Days (or days that would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event or circumstance; and (b) in respect of an event or circumstance under Section 5(b)(ii), other than in the case of Section 5(b)(ii)(2) where the relevant payment, delivery or compliance is actually required on the relevant day (in which case no Waiting Period will apply), a period of eight Local Business Days (or days that would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event or circumstance. view template

Related agreements and comparisons

Related Agreements Click here* for the text of Section Waiting Period in the 1992 ISDA* Comparisons There is no “Waiting Period” in the 1992 ISDA

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Content and comparisons

There is no “Waiting Period” in the 1992 ISDA.

There are no waiting periods in the 1992 ISDA.