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Credit Default Swap Agreement
"I need a Credit Default Swap Agreement under Australian law for a major bank acting as protection seller, with physical settlement terms and a five-year duration starting March 2025, including specific provisions for handling sovereign debt restructuring events."
1. Parties: Identification of the protection buyer and protection seller, including full legal names and registered addresses
2. Background: Context of the agreement, including the purpose of the credit protection and relationship to any master agreement
3. Definitions: Definitions of key terms, including Credit Events, Reference Entity, Reference Obligation, and other technical terms
4. Transaction Terms: Core economic terms including notional amount, fixed rate, credit events covered, and term of the agreement
5. Credit Events: Detailed description of circumstances that trigger payment obligations, including bankruptcy, failure to pay, restructuring
6. Settlement Terms: Procedures for settlement following a credit event, including calculation methods and timing
7. Premium Payments: Details of premium calculations, payment dates, and payment mechanics
8. Representations and Warranties: Standard representations and warranties from both parties
9. Events of Default: Circumstances constituting default under the agreement
10. Termination Provisions: Conditions and procedures for early termination
11. Notices: Requirements for delivering notices, including method and timing
12. Governing Law and Jurisdiction: Specification of Australian law as governing law and jurisdiction for disputes
1. Credit Support Provisions: Include when parties agree to collateral arrangements to secure their obligations
2. Additional Reference Entities: Include when the CDS covers multiple reference entities
3. Succession Event Provisions: Include when parties want specific provisions for handling corporate succession events
4. Modified Restructuring Provisions: Include when parties want to modify standard restructuring credit event provisions
5. Additional Termination Events: Include when parties agree to specific additional termination triggers
6. Trading Restrictions: Include when parties want to restrict assignment or transfer rights
7. Break Clauses: Include when parties want specific provisions for mutual early termination
8. Special Entity Provisions: Include when dealing with special entities under Australian law
1. Schedule 1: Transaction Details: Specific terms of the CDS transaction including reference entity, obligations, fixed rate, etc.
2. Schedule 2: Notice Details: Contact information and address details for notices under the agreement
3. Schedule 3: Credit Support Details: Specific terms of any credit support arrangements
4. Appendix A: Form of Credit Event Notice: Standard form for notifying credit events
5. Appendix B: Form of Assignment Agreement: Standard form for transferring rights under the agreement
6. Appendix C: Calculation Agent Provisions: Detailed provisions regarding calculation agent duties and procedures
7. Appendix D: Settlement Templates: Standard forms and procedures for physical or cash settlement
8. Appendix E: Reference Obligation Details: Detailed information about the reference obligation(s)
Authors
Additional Termination Event
Affiliate
Asset Package Credit Event
Asset Package Delivery
Australian Business Day
Bankruptcy
Business Day
Calculation Agent
Calculation Amount
Calculation Period
Cash Settlement
Cash Settlement Amount
Cash Settlement Date
Credit Event
Credit Event Backstop Date
Credit Event Notice
Credit Event Resolution Request Date
Credit Protection
Default Interest
Defaulting Party
Delivery Date
Effective Date
Eligible Transferee
Event Determination Date
Exercise Cut-off Date
Extension Date
Failure to Pay
Final Price
Fixed Amount
Fixed Rate
Fixed Rate Payer
Fixed Rate Payer Calculation Amount
Fixed Rate Payer Payment Date
Floating Rate Payer
Governmental Authority
Grace Period
Grace Period Business Day
ISDA Master Agreement
Initial Payment Amount
Interest Rate
Loss Amount
Master Agreement
Merger Event
Notice Delivery Period
Notice of Physical Settlement
Notifying Party
Obligation
Obligation Acceleration
Obligation Category
Obligation Characteristics
Payment
Payment Date
Payment Requirement
Physical Settlement
Physical Settlement Amount
Physical Settlement Date
Physical Settlement Period
Potential Credit Event
Potential Failure to Pay
Premium
Premium Payment Date
Protection Buyer
Protection Seller
Reference Entity
Reference Obligation
Relevant Obligation
Repudiation/Moratorium
Restructuring
Scheduled Termination Date
Settlement Currency
Settlement Date
Settlement Method
Specified Currency
Succession Event
Successor
Termination Currency
Termination Date
Trade Date
Transaction
Valuation Date
Valuation Method
Valuation Time
Credit Events
Settlement Terms
Payment Obligations
Premium Calculations
Representations and Warranties
Conditions Precedent
Obligations and Deliverables
Credit Support
Early Termination
Events of Default
Price Source
Market Disruption
Succession Events
Dispute Resolution
Governing Law
Notices
Assignment and Transfer
Calculations and Determinations
Physical Settlement
Cash Settlement
Force Majeure
Confidentiality
Tax Provisions
Regulatory Compliance
Record Keeping
Default Interest
Set-off Rights
Further Assurance
Severability
Amendment and Waiver
Entire Agreement
Counterparts
Third Party Rights
Time of Essence
Costs and Expenses
Business Day Convention
Reference Obligation Terms
Credit Support Obligations
Information Undertakings
Termination Rights
Calculation Agent Provisions
Indemnification
Account Details
Banking
Financial Services
Insurance
Investment Management
Asset Management
Capital Markets
Corporate Finance
Risk Management
Investment Banking
Hedge Funds
Legal
Risk Management
Trading
Compliance
Operations
Treasury
Credit Analysis
Structured Products
Documentation
Middle Office
Front Office
Financial Control
Credit Derivatives Trader
Risk Manager
Legal Counsel
Compliance Officer
Portfolio Manager
Credit Analyst
Structured Products Manager
Treasury Manager
Financial Controller
Investment Director
Chief Risk Officer
Trading Operations Manager
Documentation Specialist
Derivatives Operations Manager
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