Default Clause

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S.h. Ninik Darmini - One of the best experts on this subject based on the ideXlab platform.

  • PERLINDUNGAN HUKUM TERHADAP DISTRIBUTOR DENGAN ADANYA KLAUSULA BAKU DALAM SURAT PERJANJIAN JUAL BELI (SPJB) PUPUK BERSUBSIDI ANTARA PT.PUSRI DENGAN DISTRIBUTOR
    2011
    Co-Authors: Jefri Hamdani, S.h. Ninik Darmini
    Abstract:

    The purpose of this study was to determine and review the letter make purchase agreement between PT. PUSRI with distributors of subsidized fertilizer, find and review the criteria for standard Clause relating to legal protection for distributors, to know and assess the legal protection of distributors in the application of standard Clause on subsidized fertilizer SPJB between PT. PUSRI with Distributor. Research conducted empirical juridical nature, namely the research conducted by an assessment of the legal rules relating to legal protection against the distributor with a standard Clause in SPJB subsidized fertilizer between PT. PUSRI with distributors, associated with the implementation of the field. The letter and selling agreement between PT.PUSRI with subsidized fertilizer distributor to meet the conditions of the publication required by the laws of both the birth process, the implementation up to the expiry of the agreement. The Default Clause criteria relating to legal protection for the distributors have been set in the regulation of the Minister of Trade the number

Abdullahi Busari Saheed - One of the best experts on this subject based on the ideXlab platform.

  • Analysis of sukuk cross-Default Clause: a fiqh perspective
    2019
    Co-Authors: Habeebullah Zakariyah, Abdullahi Busari Saheed
    Abstract:

    In recent time, there have been incessant Sukuk Default cases which are posing a severe challenge to the growth of the nascent Islamic finance Industry. Institutions and principal officers in the industry are often concern about appropriate mechanisms that can protect the right and interest of the Sukuk-holders without violating Shari’ah-compliant risk. It is significant to note that there is a difference between Sukuk Default and Default event. Sukuk Defaults happen when the obligor fails in fulfilling their financial obligations as indicated in the contractual agreement. Default event is various circumstances that can trigger Sukuk Default. Default event can be in the form of credit risk and moral risk. Cross-Default is an example of a Default event that has attracted the attention of legal and Shari’ah scholars. Scholars and experts are considering the juristic status of cross-Default mechanism that can be used to protect the right and interest of creditors by juxtaposing it with the principles of justice and equity in Islamic law. This paper aims to explore the legality and fairness of cross-Default in Islamic jurisprudence. This study explains the concept of cross-Default, how it works, review of what constitutes legality and morality of cross-Default in Islamic legal theory. The study also employs the juristic analysis method to examine the opinions of contemporary scholars and expert of Islamic finance on the fairness of Sukuk crossDefault.

Liu Hai-wei - One of the best experts on this subject based on the ideXlab platform.

  • On the Cross-Default Clause of International Syndicated Loan
    Academic Exploration, 2004
    Co-Authors: Liu Hai-wei
    Abstract:

    In order to protect the creditors’ legal interest, protection Clauses are all stipulated in the agreements of international syndicated loan. The cross-Default Clause is the most important one of them. Based on the theory of cross-Default Clause, the paper analyzes the function and contents of the Clause and the counter-measures taken by the two parties in international syndicated loan, in order to make the best use of the Clause.

Timothy J. Riddiough - One of the best experts on this subject based on the ideXlab platform.

  • The value of recourse and cross-Default Clauses in commercial mortgage contracting
    Journal of Banking & Finance, 1996
    Co-Authors: Paul D. Childs, Steven H. Ott, Timothy J. Riddiough
    Abstract:

    Abstract The traditional commercial mortgage contract is written without recourse to any other borrower assets except the subject property. For credit enhancement purposes, many lenders/ investors are today seeking access to additional collateral through recourse or cross-Default Clauses. This paper considers the contracting value of such Clauses. To measure these values and assess other related risk statistics, we apply a contingent-claims approach in which borrowers rationally Default when the value of the mortgage meets or exceeds the value of the collateral, where collateral value includes additional assets provided through the mortgage contract. In the case of recourse to an unencumbered asset, Default risk is reduced in part simply because additional collateral is available. In addition, when the subject property and additional collateral are less than perfectly correlated, diversification benefits are apparent. In the case of the cross-Default Clause — which means that Default on one loan constitutes Default on all loans covered by the Clauserisk management benefits are also found to be substantial. For example, Default risk resulting from a two-asset cross-Default Clause arrangement can be reduced by over 50 percent of non-recourse Default risk when asset values are uncorrelated.

Kevin Yuen - One of the best experts on this subject based on the ideXlab platform.

  • WOMPAT - An evaluation of auto-scoping in OpenMP
    Lecture Notes in Computer Science, 2005
    Co-Authors: Michael Voss, Eric Chiu, Patrick Man Yan Chow, Catherine Wong, Kevin Yuen
    Abstract:

    In [1], Dieter an Mey proposes the addition of an AUTO attribute to the OpenMP Default Clause. A Default(AUTO) Clause would cause the compiler to automatically determine the scoping of variables that are not explicitly classified as shared, private or reduction. While this new feature would be useful and powerful, its implementation would rely on automatic parallelization technology, which has been shown to have significant limitations. In this paper, we implement support for the Default(AUTO) Clause in the Polaris parallelizing compiler. Our modified version of the compiler will translate regions with Default(AUTO) Clauses into regions that have explicit scopings for all variables. An evaluation of our implementation on a subset of the SPEC OpenMP Benchmark Suite shows that with current automatic parallelization technologies, a number of important regions cannot be statically scoped, resulting in a significant loss of speedup. We also compare our compiler's performance to that of an Early Access version of the Sun Studio 9 Fortran 95 compiler [2].