Common use of (Reference Entity) Clause in Contracts

(Reference Entity). Reference Entity" means the entity or entities specified as such in the related Confirmation provided that, at the time that a Credit Derivative Transaction is entered into, any Reference Entity: must be an Indian Resident; and must not be a Related Party of Buyer or Seller. Any Successor to a Reference Entity either (a) identified by the Calculation Agent pursuant to Section 2.2 on or following the Trade Date or (b) in respect of which FIMMDA (or any other entity as nominated by RBI from time to time) publicly announces on or following the Trade Date that the Credit Derivatives Determinations Committee has Resolved, in respect of a Succession Event Resolution Request Date, a Successor in accordance with the Rules shall, in each case, be the Reference Entity for the relevant Credit Derivative Transaction or a New Credit Derivative Transaction as determined pursuant to such Section 2.2."