Party B Life Cycle Event Sample Clauses

Party B Life Cycle Event. Each party agrees that if it is the Non-Reporting Counterparty with respect to a Swap, upon the occurrence of any “life cycle event” (as that term is defined in CFTC Regulation 45.1) relating to a corporate event in respect of such Non-Reporting Counterparty and such Swap, it will, as soon as practicable, but in no event later than 10:00 a.m. on the second “business day” (as that term is defined in CFTC Regulation 45.1) following the day on which such life cycle event occurs, notify the Reporting Counterparty to the Swap of the occurrence of such life cycle event, with sufficient detail regarding such life cycle event to allow such other party to comply with any reporting requirements imposed by the DF Supplement Rules.8
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Related to Party B Life Cycle Event

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