La semana pasada leíamos a nuestro amigo explicarnos que es y que no es default.
interest on the Debt Securities of any Series as such principal and interest will become due and
payable, the Republic hereby agrees to pay or to cause to be paid to an account of the Trustee at
the Corporate Trust Office or such other office of the Trustee as may be agreed between the
Trustee and the Republic (or, in the case of payments denominated in a currency other than U.S.
Dollars, at such other place as set forth in an Authorization), not later than 1:00 P.M. local time
at such place of payment no later than the Business Day prior to each interest payment date or
principal payment date (each, a “Payment Date”) of such Debt Securities, in immediately
available funds in U.S. dollars (or in such other currency as shall be specified in the Terms of the
Debt Securities of the Series with respect to which payment is to be made), an amount which
(together with any funds then held by the Trustee and available for the purpose) shall be
sufficient to pay the aggregate amount of interest or principal or both and any other amounts, as
the case may be, becoming due in respect of such Debt Securities on such Payment Date.
Subject to actual receipt of such funds in accordance with this Section 3.5(a), the Trustee shall
apply such amount to the payment due on such Payment Date. Pending such application, such
amounts shall be held in trust by the Trustee for the exclusive benefit of the Trustee and the
Holders entitled thereto in accordance with their respective interests and the Republic shall have
no interest whatsoever in such amounts.
Section 4.1. Events of Default. Each of the following events will constitute an “Event
of Default” under the Debt Securities of any Series:
(i). Non-Payment: the Republic fails to pay any principal of any of the Debt
Securities of any Series when due and payable and such failure continues for 30 days or
fails to pay any interest on the Debt Securities of any Series when due and payable and
such failure continues for a period of 30 days; or
(ii). Breach of Other Obligations: the Republic does not perform or comply
with any one or more of its other obligations in the Debt Securities of any Series or in
this Indenture, which default is incapable of remedy or is not remedied within 90 days
after written notice of request to remedy such default shall have been given to the
Republic by the Trustee;
podemos agregar estas oraciones del prospecto del canje del 2005
Neither Argentina nor the U.S.-European trustee shall have any responsibility or liability for any aspect of the records of, or payments made by, the relevant clearing system or its nominee or direct participants, or any failure on the part of the relevant clearing system or its direct participants in making payments to holders of the New Securities from the funds they receive.
Y aca el párrafo q se presta a la confusión general
Notwithstanding the foregoing, Argentina’s obligations to make payments of principal, interest or other amounts on the New Securities shall not have been satisfied until such payments are received by the common depositary (or its nominee), as registered holder of the New Securities.