# XML Schema Documentation

### Complex Type: FailureToPay

#### [Table of contents]

Super-types: | None
Sub-types: | None

Name | FailureToPay
Used by (from the same schema document) | Complex Type CreditEvents
Abstract | no

XML Instance Representation
<...>
<gracePeriodExtension> GracePeriodExtension </gracePeriodExtension> [0..1]

'If this element is specified, indicates whether or not a grace period extension is applicable. ISDA 2003 Term: Grace Period Extension Applicable'

<paymentRequirement> Money </paymentRequirement> [0..1]

'Specifies a threshold for the failure to pay credit event. Market standard is USD 1,000,000 (JPY 100,000,000 for Japanese Yen trades) or its equivalent in the relevant obligation currency. This is applied on an aggregate basis across all Obligations of the Reference Entity. Intended to prevent technical/operational errors from triggering credit events. ISDA 2003 Term: Payment Requirement'

</...>
Diagram
Schema Component Representation
<xsd:complexType name="FailureToPay">
<xsd:sequence>
<xsd:element name="gracePeriodExtension" type=" GracePeriodExtension " minOccurs="0"/>
<xsd:element name="paymentRequirement" type=" Money " minOccurs="0"/>
</xsd:sequence>
</xsd:complexType>