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The ISDA® Master Agreement: Remedies Toolkit
Practical Law Toolkit 5-597-7365 (Approx. 5 pages)
The ISDA® Master Agreement: Remedies Toolkit
by Practical Law Finance
| Maintained • USA (National/Federal) |
A Toolkit of Practical Law resources on evaluating and pursuing remedies against a counterparty under the ISDA Master Agreement.
What does a nondefaulting party under an ISDA® Master Agreement (ISDA Master) need to do in order to pursue its remedies against a defaulting counterparty under the ISDA Master? A course of action is not always easy to determine from flipping through the pages of the ISDA Master. This Toolkit is designed to assist parties in evaluating and pursuing remedies under the ISDA Master and help parties to determine, among other things:
- When an event of default (EOD) or termination event (TE) has occurred under the ISDA Master (see Practice Notes, Understanding the ISDA Master Agreement and Schedule: Section 5: Events of Default and Termination Events).
- What must be done by a party, and when, in order to preserve and pursue its rights under the agreement upon occurrence of an EOD or TE under the ISDA Master (see The ISDA Master Agreement: Timelines for Pursuing Remedies (Checklist)).
- Whether a nondefaulting party (or non-affected party in the case of a TE) should exercise its early termination rights under the ISDA Master (see The ISDA Master Agreement: Early Termination Checklist).
- What steps must be taken to effect an early termination under the ISDA Master (see The ISDA Master Agreement: Early Termination Checklist and Understanding the ISDA Master Agreement and Schedule: Section 6: Early Termination (1992 Master)/Early Termination; Close-out Netting (2002 Master)).
The following Practical Law resources discuss these and other matters relevant to remedies under the ISDA Master: