NEGOTIATING AND DOCUMENTING SWAPS, OTC DERIVATIVES, AND CREDIT AND COLLATERAL SUPPORT AGREEMENTS
2017 of this Agreement (in each case other than in accordance with its terms) prior to the satisfaction of all obligations of such party under each Transaction to which such Credit Support Document relates without the written consent of the other party; or (3) the party or such Credit Support Provider disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, such Credit Support Document (or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf); This Event of Default is triggered where there is a default under any Credit Support Document (CSD) (e.g. guarantee or security agreement). It is also applicable to any earlier-than-agreed-upon expiration, termination, or repudiation of a CSD (including any action undertaken by a Credit Support Provider (CSP). The CSP must be identified in Part 4(g) of the Schedule or in the CSD itself. A counterparty's guarantor should be identified in the Schedule. Any other document which takes the form of a pledge or creates a security interest is a CSD and should be referred to in the Schedule, i.e. New York Law ISDA CSA and English Law ISDA CSD. Where there is complete title transfer and ownership is transferred to another counterparty under an English Law ISD CSA then such party should not be identified in the Schedule as title transfer is completed under a separate document which does not form part of the ISDA architecture. There will be a default if a party or its CSP breach any term of the CSD and the breach continues on after the applicable grace period. If the CSD or any security interest granted by a counterparty becomes ineffective prior to discharge of all obligations under related Transactions there will be a default in the absence of the other counterparty's written consent. If a CSP (or a third party entitled to act on its behalf such as a national regulator, a liquidator, a done acting under a power of attorney) repudiates, disowns, or challenges the validity of the CSP this will trigger the Event of Default.
22.1.4 Misrepresentation (iv) Misrepresentation. A representation (other than a representation under Section 3(e) or 3(f)) made or repeated or deemed to have been made or repeated by the party or any Credit Support Provider of such party in this Agreement or any Credit Support Document proves to have been incorrect or misleading in any material respect when made or repeated or deemed to have been made or repeated; This will apply where representations (other than payer and payee tax representations) that are set out in the ISDA Master Agreement or CSD are breached by either party of a CSP. This will be where representations that are made are materially misleading or incorrect. Representations in the ISDA Master Agreement are deemed to be repeated for each new transaction. There is no cure period for a misrepresentation Event of Default.
22.1.5 Default under Specified Transaction (v) Default Under Specified Transaction. The party, any Credit Support Provider of such party or any applicable Specified Entity of such party:― (l) defaults (other than by failing to make a delivery) under a Specified Transaction or any credit support arrangement relating to a Specified Transaction and, after giving effect to any applicable notice requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Specified Transaction; (2) defaults, after giving effect to any applicable notice requirement or grace period, in making any payment due on the last payment or exchange date of, or any payment on early termination of, a Specified Transaction (or, if there is no
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