Hope you are well!
I had a wonderful vacation in L.A.
I never made it to  either the Norton Simon or the Getty; I'll just have to plan another trip to  the west coast.
In connection with your recent review of our standard ISDA Schedule, Credit  Support Annex and legal opinion (the "Documents"), could you please advise as  the whether additional provisions are required or advisable in any of the  Documents when our counterparty is an Argentine public utility, municipality  or other type of regulated entity.
In the U.S., we use the ISDA  Multicurrency - Cross Border boilerplate and incorporate most of the ISDA  municipal language and some of our own into the Schedule for municipals and  governmental entities.
However, for public utilities which are general  corporates (and not governmentally owned), we take a different approach and  incorporate language which might trigger an "Additional Termination Event"  for "regulatory type developments" (e.g., orders issued by a public utility  commission) which would cause or might cause our master agreement to become  void or unenforceable or similar swap agreements to become void or  unenforceable.
For example:  "The filing of a motion, pleading, application or other similar action in any  proceeding or action by Party B, a commission, regulatory agency or other  entity having jurisdiction over Party B, in respect of Party B, or in respect  of any other similarly situated entity organized under the laws of the  state(s) in which Party B is located or regulated, to the effect that  performance under this Agreement or one or more Transactions hereunder or  similar agreements is unlawful or that this Agreement or one or more  Transactions hereunder or similar agreements are void or voidable."
By fax, I will send you our Municipal Schedule.
Please advise as to changes in both the (i) Schedule and (ii) legal opinion  for both (a) public utilities (corporates, non-governmental) and governmental  entities (municipals, public agencies, governmental utilities, etc.).
Please  call if you have any questions.
Regards.
Sara

Argentina: public utilities and other regulated entities
Hope you are well!
I had a wonderful vacation in L.A.
I never made it to either the Norton Simon or the Getty; I'll just have to plan another trip to the west coast.
In connection with your recent review of our standard ISDA Schedule, Credit Support Annex and legal opinion (the "Documents"), could you please advise as the whether additional provisions are required or advisable in any of the Documents when our counterparty is an Argentine public utility, municipality or other type of regulated entity.
In the U.S., we use the ISDA Multicurrency - Cross Border boilerplate and incorporate most of the ISDA municipal language and some of our own into the Schedule for municipals and governmental entities.
However, for public utilities which are general corporates (and not governmentally owned), we take a different approach and incorporate language which might trigger an "Additional Termination Event" for "regulatory type developments" (e.g., orders issued by a public utility commission) which would cause or might cause our master agreement to become void or unenforceable or similar swap agreements to become void or unenforceable.
For example: "The filing of a motion, pleading, application or other similar action in any proceeding or action by Party B, a commission, regulatory agency or other entity having jurisdiction over Party B, in respect of Party B, or in respect of any other similarly situated entity organized under the laws of the state(s) in which Party B is located or regulated, to the effect that performance under this Agreement or one or more Transactions hereunder or similar agreements is unlawful or that this Agreement or one or more Transactions hereunder or similar agreements are void or voidable."
By fax, I will send you our Municipal Schedule.
Please advise as to changes in both the (i) Schedule and (ii) legal opinion for both (a) public utilities (corporates, non-governmental) and governmental entities (municipals, public agencies, governmental utilities, etc.).
Please call if you have any questions.
Regards.
Sara
getty utilities corporates non isda multicurrency counterparty argentine regulated effect review standard plan trip west schedule credit support filing motion pleading void voidable