View source for Termination - ISDA Give-Up provision

''The [[2005 ISDA Master Give-Up Agreement]]''

You may terminate a give-up by giving notice. Terminating won’t affect live transactions. If {{isdaprov|AET}} applies to ''either'' party in your {{isdama}}, give-ups will terminate automatically on an {{isdaprov|Event of Default}} causing [[automatic early termination]]. Termination is effective, depending on what you've elected in {{prov|{{igu}}|Part 5}} of the {{prov|{{igu}}|Schedule}} to the {{prov|{{igu}}|Agreement}}, a given number of hours after ''receipt'' of notice.

But enough from me - why don't you hear about it in gory detail, direct from the super-brow of {{isda}}:

{{box|
Section {{prov|{{igu}}|4}}.	'''{{prov|{{igu}}|Termination}}'''.  This {{prov|{{igu}}|Agreement}} or any {{prov|{{igu}}|Designation Notice}} shall remain in effect [[unless and until]] terminated by {{prov|{{igu}}|Prime Broker}} or {{prov|{{igu}}|Dealer}}.  Such termination notice shall be delivered in accordance with one of the methods specified in Section {{prov|{{igu}}|5(a)}} of this {{prov|{{igu}}|Agreement}}.  Notwithstanding the provisions of Section {{prov|{{igu}}|5}} of this {{prov|{{igu}}|Agreement}}, such termination notice shall be effective in accordance with the period of time specified in Part {{prov|{{igu}}|5}} of the {{prov|{{igu}}|Schedule}}; provided, however, that no such termination shall be effective in respect of either: (a) an outstanding {{prov|{{igu}}|Accepted Transaction}}; or (b) a {{prov|{{igu}}|Counterparty Transaction}} that would not be a {{prov|{{igu}}|Problem Transaction}} and that was entered into prior to the effectiveness of such termination and as to which the {{prov|{{igu}}|Dealer Notice}} has been promptly sent to {{prov|{{igu}}|Prime Broker}}.  This {{prov|{{igu}}|Agreement}} shall terminate immediately upon the occurrence of an {{isdaprov|Early Termination Date}} in respect of the [[ISDA Master Agreement]] between the parties if the parties have specified {{isdaprov|Automatic Early Termination}} as applying to either of the partiesNotwithstanding the provisions of Section {{prov|{{igu}}|5}} of this {{prov|{{igu}}|Agreement}}, such termination notice shall be effective in accordance with the period of time specified in Part {{prov|{{igu}}|5}} of the {{prov|{{igu}}|Schedule}}; provided, however, that no such termination shall be effective in respect of either: (a) an outstanding {{prov|{{igu}}|Accepted Transaction}}; or (b) a {{prov|{{igu}}|Counterparty Transaction}} that would not be a {{prov|{{igu}}|Problem Transaction}} and that was entered into prior to the effectiveness of such termination and as to which the {{prov|{{igu}}|Dealer Notice}} has been promptly sent to {{prov|{{igu}}|Prime Broker}}.  This {{prov|{{igu}}|Agreement}} shall terminate immediately upon the occurrence of an {{isdaprov|Early Termination Date}} in respect of the [[ISDA Master Agreement]] between the parties if the parties have specified {{isdaprov|Automatic Early Termination}} as applying to either of the parties}}

Of course, the super-brow of {{isda}} has been known to sap a fellow’s very will to live. No fear, [[Amwell J]]'s un-patented, entirely unwarranted, cut-the-[[BS]] summary service is here for you:

{{nuts|ISDA Give-Up|Termination}}


===See also===
*{{prov|{{igu}}|Termination notice}}
*{{prov|{{igu}}|Part 5}} to the {{prov|{{igu}}|Schedule}} about effectiveness of {{prov|{{igu}}|termination notices}}.
*[[Give-up]]