Rights, Duties and Obligations of Counter-Parties following Default under Derivative Contracts
Keywords:Energy Law, Petroleum Law
AbstractThe article discusses the use of derivative contracts as a risk-management tool and the results of terminating such contracts, including: termination under conditions of insolvency and non-insolvency of a counter party; the use of collateral security to mitigate the risks of contractual obligations that might terminate prematurely; the duty to negotiate in good faith; notice requirements for termination of a derivative contract; and damages/penalties that arise when a contract is terminated prior to completion.
Author(s) retain original copyright in the substantive content of the titled work, subject to the following rights that are granted indefinitely:
- Author(s) grant the Alberta Law Review permission to produce, publish, disseminate, and distribute the titled work in electronic format to online database services, including, but not limited to: LexisNexis, QuickLaw, HeinOnline, and EBSCO;
- Author(s) grant the Alberta Law Review permission to post the titled work on the Alberta Law Review website and/or related websites.
- Author(s) agree that the titled work may be used for educational or instructional purposes and/or in educational or instructional materials. The author(s) acknowledge that the titled work is subject to other such "fair dealing" provisions and applicable legislation.
- Author(s) grant a limited license to those accessing the titled work from an electronic database or an Alberta Law Review website to download the titled work onto their computer and to print a copy for their own personal, non-commercial use, subject to proper attribution.
To use the journal's content elsewhere, permission must be obtained from the author(s) and the Alberta Law Review.