The ISDA European Loan CDS Protocol (the “Protocol”) is a tool to upgrade the Standard Terms Supplement and Confirmation for Credit Derivative Transactions on Leveraged Loans as published on July 30, 2007 (the “July 2007 Supplement”) to the terms of the Revised Standard Terms Supplement and Confirmation for Credit Derivative Transactions on Leveraged Loans published on March 12, 2008 (the “the Revised March 2008 Supplement”).
Adhering to the Protocol will provide that with effect from the Implementation Date each provision in the Documentation relating to each Covered Transaction that incorporates the July 2007 Supplement shall be deleted and replaced with a provision incorporating the Revised March 2008 Supplement.
It should be noted that there is no adherence fee required for ISDA members or non-ISDA members submitting Adherence Letters in connection with the ISDA European Loan CDS Protocol.
The ISDA European Loan CDS Protocol is open to ISDA members and non-members.
THE CUT-OFF DATE FOR ADHERENCE TO THIS PROTOCOL
HAS BEEN EXTENDED FROM MAY 15, 2008 TO MAY 22, 2008.