Derivatives · glossary
A Specified Entity is a group company whose default counts as the party's own, and here there is none. A Specified Transaction is another derivative whose default counts. Specified Information is what Part 3 makes each side deliver and state to be accurate. Schedule, Part 1(a) · Chapter 5 · Chapter 8
Explained in Chapter 5, Representations, Undertakings and the Paper Trail, of Derivatives.
Three limbs also catch a Specified Entity, a group company whose default counts as the party’s own. Part 1(a) of the Schedule names none for either side. So the clause reaches the parent company alone, and not the two subsidiaries that guarantee its loan.Read Chapter 8, The First Winter: Events of Default, Cross Default and the Two Hats →
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