ISDA is pleased to announce the publication on our website of the ISDA Illegality/Force Majeure Protocol (the “Protocol”), together with FAQs and other materials relating to Protocol adherence.
The Protocol offers market participants an efficient way to amend their 1992 ISDA Master Agreements with the more sophisticated Illegality and Force Majeure provisions of the 2002 ISDA Master Agreement.
The published version of the Protocol includes additional modifications to the definition of “Protocol Covered Master Agreement,” which are reflected in the blackline against the pre-publication version. These changes expand the Protocol’s coverage to include 1992 Master Agreements containing an Impossibility Termination Event, and related modifications, as suggested in Section VIII of the User’s Guide to the 1992 ISDA Master Agreements (1993 Edition) published by ISDA.
More details and related materials can be found on the ISDA Illegality/Force Majeure Protocol webpage.
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