Lisa Palmer and I had a conference call with the Xerox lawyer and commercial  person.
The main issues are the following:  No CSA (claim to have over 40 ISDA Masters none of which contain CSA's!
and  not set up to handle collateral) Rating downgrade is a Termination Event.
(Maybe they'll agree to our posting  L/C's  MUST have cross-acceleration (POLICY).
Guess what else?
NO NETTING (can't handle netting internally)  Otherwise, Xerox is cool.

Xerox Corporation
Lisa Palmer and I had a conference call with the Xerox lawyer and commercial person.
The main issues are the following: No CSA (claim to have over <NUMBER> ISDA Masters none of which contain CSA's!
and not set up to handle collateral) Rating downgrade is a Termination Event.
(Maybe they'll agree to our posting L/C's MUST have cross-acceleration (POLICY).
Guess what else?
NO NETTING (can't handle netting internally) Otherwise, Xerox is cool.
xerox lawyer downgrade termination event handle collateral rating lisa palmer contain csa maybe number isda masters acceleration main issues