Resolution Stay Sample Clauses
A Resolution Stay clause temporarily halts the enforcement of certain contractual rights, such as termination or close-out rights, when a counterparty enters into insolvency or resolution proceedings. In practice, this means that if a bank or financial institution is subject to regulatory intervention or restructuring, other parties to contracts with that institution cannot immediately exercise rights that might otherwise be triggered by the insolvency event. The core function of this clause is to provide regulators with time to stabilize or resolve the troubled institution without the disruption of mass contract terminations, thereby supporting financial system stability.
Resolution Stay. (a) In the event that the Manager or Forward Purchaser that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Manager or Forward Purchaser of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.
(b) In the event that any Manager or Forward Purchaser that is a Covered Entity or a BHC Act Affiliate of such Manager or Forward Purchaser becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Manager or Forward Purchaser are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.
Resolution Stay. (a) In the event that the Manager that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Manager of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.
(b) In the event that any Manager that is a Covered Entity or a BHC Act Affiliate of such Manager becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Manager are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.
Resolution Stay. The terms of the German Jurisdictional Module of the ISDA Resolution Stay Jurisdictional Modular Protocol (the "German Module") are incorporated into and form part of the New Agreement. For the purposes of the German Module, (i) the New Agreement shall be deemed to be a Covered Agreement, and (ii) the Implementation Date shall be the Effective Date. In the event of any inconsistencies between the New Agreement and the German Module, the German Module will prevail. GSBE shall be deemed to have adhered to the German Module as a Regulated Entity, and the Counterparty shall be deemed to have adhered to the German Module as a Module Adhering Party and identified GSBE as a Regulated Entity Counterparty.
Resolution Stay. The Parties hereby confirm that they are adherents to the ISDA 2018 U.S. Resolution Stay Protocol (“ISDA U.S. Stay Protocol”), the terms of the ISDA U.S. Stay Protocol are incorporated into and form a part of this Agreement, and this Agreement shall be deemed a Protocol Covered Agreement for purposes thereof. For purposes of incorporating the ISDA U.S. Stay Protocol, MSCG shall be deemed to be a Regulated Entity, and PPA Buyer and PPA Seller each shall be deemed to be an Adhering Party. In the event of any inconsistences between this Agreement and the ISDA U.S. Stay Protocol, the ISDA U.S. Stay Protocol will prevail.
Resolution Stay. Japan Jurisdictional Module of the ISDA Resolution Stay Jurisdictional Modular Protocol. The terms of the Japan Jurisdictional Module of the ISDA Resolution Stay Jurisdictional Modular Protocol (the “Japan Module”) are incorporated into and form part of the Agreement, and the Agreement shall be deemed to be a Covered Agreement for purposes of the Japan Module. In the event of any inconsistencies between the Agreement and the Japan Module, the Japan Module will prevail. Dealer has adhered to the Japan Module as a Regulated Entity, and upon entering into the Agreement Counterparty shall be deemed to have adhered to the Japan Module as a Module Adhering Party and identified Dealer as a Regulated Entity Counterpart. 52 NTD: Include for Barclays. 53 NTD: Include for BNPP. 54 NTD: Include for Nomura. Please confirm your agreement to be bound by the terms stated herein by executing the copy of this Master Confirmation enclosed for that purpose and returning it to Dealer. Yours sincerely, [DEALER NAME] By: Name: Title: [Signature Page to Master Confirmation] Confirmed as of the date first above written: W. P. ▇▇▇▇▇ INC. By: Name: Title: [Signature Page to Master Confirmation] Date: [*], 20[*] To: W. P. ▇▇▇▇▇ Inc. One Manhattan West ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ New York, New York 10001 Attention: Managing Director of Strategy and Capital Markets Email: ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇ From: [DEALER NAME AND NOTICE INFORMATION] Ladies and Gentlemen: This Supplemental Confirmation supplements, forms part of, and is subject to, the Master Confirmation dated as of [*] (as amended and supplemented from time to time, the “Master Confirmation”) between W. P. ▇▇▇▇▇ Inc. and [DEALER NAME] . All provisions contained in the Master Confirmation govern this Supplemental Confirmation except as expressly modified below. The terms of the Transaction to which this Supplemental Confirmation relates are as follows: – Trade Date is [*], 20[*] – Maximum Number of Shares to be Sold is [*] – Forward Duration is [[24] months] – Initial Forward Price Percentage is [*]% – Spread is [*] basis points per annum – Initial Stock Loan Fee is [*] basis points per annum – Maximum Stock Loan Fee is [*] basis points per annum – Hedge Completion Date is [*] Yours sincerely, [DEALER NAME] By: Name: [*] Title: [*] Confirmed as of the date first above written: W. P. ▇▇▇▇▇ INC. By: Name: [*] Title: [*] [Signature Page to Supplemental Confirmation] • SCHEDULE I to SUPPLEMENTAL CONFIRMATION DATED [*], 20[*] Date: [*], 20[...