The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
The 1992 and 2002 ISDA Master Agreements (the Master Agreements) are standard form documents produced by the International Swaps and Derivatives Association, Inc (ISDA).
In this Practice Note, references to Sections of a Master Agreement and Parts of a Schedule are references to the 2002 ISDA Master Agreement and Schedule unless otherwise stated.
For general information about negotiating ISDA Master Agreements, see Introduction to negotiating ISDA documents.
This part of the Master Agreement relates to what is commonly called the 'boilerplate' in financing documentation. See Boilerplate for more information.
This part of the Master Agreement contains provisions relating to items such as currencies, governing law, notices etc. It is usually not the primary area of focus for negotiations, but it is important for anyone negotiating a Master Agreement to the fully aware of the provisions.
Section 7 (Transfer) of the Master Agreement limits the ability of a party to transfer any interests in the Master Agreement without the other party’s prior written consent. This provision does not impede transactions under Section 6(b)(ii) (Transfer to Avoid Termination Event) or the transfer of any interest in amounts received from a Defaulting Party under Section 6(e) (Payments on Early Termination). It will also capture any interest transferred by way of security.
Due to the restrictive nature of this provision it is common to
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This Practice Note considers the different categories of contractual damages that may be available for financial loss (pecuniary loss), ie expectation-based damages, reliance-based damages and gains-based damages.For guidance on contractual damages generally, see Practice Note: Contractual
On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements
Voluntary manslaughterVoluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element for murder) but which are reduced to manslaughter because of one of the three special defences (loss of control, diminished responsibility or suicide
Issue estoppel is a sub-species of the res judicata doctrine (see Practice Note: The doctrine of res judicata). In addition to the general key requirements for establishing a res judicata (see Practice Note: Key requirements to establish a res judicata), this Practice Note considers the specific
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