Timely Confirmation. (i) Section 9(e)(ii) is hereby amended by: (A) replacing the word "practicable" with the word "possible" in the third line thereof; (B) inserting "or by such other method intended by the parties to be effective for the purpose of confirming or evidencing such Transaction" immediately before the words "which in each case will be sufficient" in the fifth line thereof; and (C) inserting a new Part 9(e)(iii) as follows: "In respect of each Relevant Confirmation Transaction, Party A and Party B will use reasonable efforts acting in good faith and a commercially reasonable manner to ensure each Relevant Confirmation Transaction is confirmed by the Timely Confirmation Deadline." (ii) Without prejudice to the rights, powers, remedies and privileges provided by law, failure by a party to comply with its obligations under Part 5(y) will not constitute an Event of Default or a Termination Event under the Agreement. (iii) For the purposes of this Agreement:
Appears in 5 contracts
Samples: Isda Master Agreement, Initial Basis Hedge Agreement, Isda Schedule
