Potential Events of Default under an ISDA Master Agreement and cure periods—summary and comparison table
Potential Events of Default under an ISDA Master Agreement and cure periods—summary and comparison table

The following Banking & Finance practice note provides comprehensive and up to date legal information covering:

  • Potential Events of Default under an ISDA Master Agreement and cure periods—summary and comparison table
  • Failure to pay
  • Breach of agreement
  • Credit support default
  • Default under specified transactions
  • Cross-default
  • Bankruptcy
  • Stay in resolution
  • Table comparing Potential Events of Default under the 1992 ISDA Master Agreement and their relevant cure periods
  • Table comparing potential events of default under the 2002 ISDA master agreement and their relevant cure periods
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for derivatives lawyers?

Coronavirus (COVID-19): This Practice Note contains information on subjects potentially impacted by the government and regulators' responses to the coronavirus (COVID-19) outbreak. We are reviewing our content on the basis of information available and will keep it under regular review. For information on key developments and related practical guidance on the implications for lawyers, see: Coronavirus (COVID-19) toolkit and Practice Note: Coronavirus (COVID-19)—implications for derivatives transactions.

Under an ISDA Master Agreement, if an Event of Default (as set out in Section 5(a) of the ISDA Master Agreement) occurs, often the Defaulting Party is given a period of time in which to 'cure' the default. This means that until that cure period has ended, the derivative transaction cannot be terminated early on the grounds of an Event of Default. The different Events of Default have differing cure periods which are set out

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