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  • 06. Dezember 2020

    Definition Reasonable Agreement

    The terms and conditions of the ISDA 2002 Master Agreement, published by the International Swaps and Derivatives Association, Inc. (ISDA and ISDA 2002 Master Agreement), require that this determination act in good faith and „use commercially appropriate procedures to achieve an economically reasonable result.“ Lehman Brothers argued that NPC had violated this provision. The 1992 ISDA Masteragrement became an integral part of the relevant context for the interpretation of the 2002 ISDA Director Contract, as well as the user manual accompanying the 2002 ISDA steering contract, published by ISDA (friendly guide) and the fact that the ISDA masteragrement is „probably the most important model agreement in the financial world“. 18 See Williams Cos., Inc. v. Energy Transfer Equity, L.P., 2016 WL 3576682, at `19 (Del. Ch. June 24, 2016), aff`d, 2017 WL 1090912 (Del. Tue. 23, 2017); Sekisui Am. Hart Corp., 15 F.

    Supp.3d 359, 381 (S.D.N.Y 2014) (describes that the standard for assessing „commercially reasonable efforts“ is objective). The use of common sense is quite simple, but raises reasonably some questions. In the case of In re Chateaugay Corp., the District Court found that the plaintiff failed to prove that the defendant breached a provision of the contract that requires the defendant to „make all reasonable efforts… to complete the transactions under the agreement. 13 Congressional approval was a prerequisite for the full transition to the agreement. The court found that for the plaintiff to prove that the defendant did not use „reasonable effort,“ he had to show that the defendant did not have members of the congressional lobby group to change their opinion on the acquisition was inconsistent with the faithful business decision. The regional court found that, because the defendant has made considerable efforts to do so, including the inclusion in many contacts with members of trade agreements in general specific standards in the description of the degree of effort that a party expects to make in a way that avoids legal problems, difficulties or disputes with the importance of these standards , is the definition of the standard in the agreement (the nature of the effort to be made) and not its interpretation to a third party. Instead of „better effort,“ „best reasonable commitment“ or „commercially reasonable effort,“ we prefer the term „reasonable effort.“ Here`s an example: Are you calling the term? It is not necessary to provide a qualification of adequacy when a European law is applicable.


    Verfasst von Stefan Oberhauser

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