Conditions Precedent. Conditions precedent on some obligation. These are conditions which would alter the Obligation as it is otherwise stated.
Issues and Challenges
Introduced for ISDA Master Agreement. It is likely that the Conditions Precedent defined for OTC Derivatives Master Agreements are actually applicable more widely. However, they are defined within the ISDA terms for now. Modeling note / review question: Modeled as a kind of Terms Set, combining terms and conditions. Should consider whether terms and conditions are distinct (Condition would then be a separate archetype).
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.