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Credit Event Notice (CEN) - Meaning

One of the notices required to be delivered to trigger a credit derivative transaction when a Notifying Party believes a Credit Event has occurred. A CEN must contain a description in reasonable detail of the facts relevant to the determination that a Credit Event has occurred. It should be noted that the delivery of the notice is a process to facilitate settlement and that delivery of the notice does not override fact or law. The CEN is typically coupled with a Notice of Publicly Available Information (NOPS).

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