Derivatives · glossary
A letter that keeps a right alive without using it. In the first winter the bank reserved its rights to hold back payment and to end the trades, then paid Atlas in full "without waiver". Exhibit 4 · Chapter 8
Explained in Chapter 8, The First Winter: Events of Default, Cross Default and the Two Hats, of Derivatives.
The main page for this term is Reservation of rights, in Finance Deals & Syndicated Lending.
A reservation of rights keeps a right alive without using it. Paragraph (3) names two rights. Paragraph (4) states a third that already applied, the threshold at zero.Read Chapter 8, The First Winter: Events of Default, Cross Default and the Two Hats →
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