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Section 6 of the ISDA Master Agreement contains the provisions which enable a party to terminate transactions early if an Event of Default or Termination Event occurs in respect of the other party and set out the procedure to calculate and net the termination values of those transactions to produce a single amount payable between the parties.
Netting, dealt with under section 2(c) of the ISDA Master Agreement, allows the parties to net out amounts payable on the same day and in the same currency. The more important use of netting is close-out netting under Section 6(e) of the ISDA Master Agreement. Pursuant to this section, when an ISDA Master Agreement (or, more accurately the ...
A restructuring credit event, according to the ISDA, occurs when there is either a reduction in the interest rate or principal amount, a deferment or other postponement for payment, a change that causes subordination to obligations, or if there is any change in the composition of the payments interest and principal. [2]
The facts varied between the individual appeals, but the common theme in each of them was that an Event of Default (as defined) had occurred under an ISDA Master Agreement, but the Defaulting Party (as defined) was "in the money", in the sense that if the open positions were all to be terminated, the non-Defaulting Party would have had to pay over considerable sums to the Defaulting Party to ...
To distinguish between the Schedule to the Master Agreement and the Credit Support Annex, the schedules are numbered as Parts and CSA are numbered as Paragraphs. To customise the requirements of an OTC Transaction, the clauses which are required are added as Paragraph 11 (for London Agreements) and as Paragraph 13 (for New York Agreements).
Credit Suisse is a global investment bank. Stichting Vestia Groep (called "Vestia" in the judgment) is a Dutch social housing association. Credit Suisse and Vestia had entered into an ISDA Master Agreement "as of" 9 November 2010 in the 2002 form, and had then entered into various derivative transactions under that agreement.
Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans, or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt ...
ISDA Master Agreement This page was last edited on 16 October 2021, at 15:08 (UTC). Text is available under the Creative Commons Attribution-ShareAlike 4.0 License ...