Template:Nutshell ISDA Give-Up Termination: Difference between revisions

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Section {{prov|{{igu}}|4}} . '''{{prov|{{igu}}|Termination}}'''. This {{prov|{{igu}}|Agreement}} or any {{prov|{{igu}}|Designation Notice}} remains in effect until terminated by {{prov|{{igu}}|Prime Broker}} or {{prov|{{igu}}|Dealer}} on notice delivered under Section {{prov|{{igu}}|5(a)}}.
Section {{prov|{{igu}}|4}} . '''{{prov|{{igu}}|Termination}}'''. This {{prov|{{igu}}|Agreement}} and any {{prov|{{igu}}|Designation Notice}} can be terminated by either the {{prov|{{igu}}|Prime Broker}} or the {{prov|{{igu}}|Dealer}} on notice delivered under Section {{prov|{{igu}}|5(a)}}.


Termination takes effect:
{{prov|{{igu}}|Termination}} takes effect:
:'''On notice''': at the end of the notice period in Part {{prov|{{igu}}|5}} of the {{prov|{{igu}}|Schedule}}; but will not affect:  
:'''On notice''': at the end of the notice period, but termination will not affect:  
::(a) an outstanding {{prov|{{igu}}|Accepted Transaction}}; or
::(a) an outstanding {{prov|{{igu}}|Accepted Transaction}}; or
::(b) a {{prov|{{igu}}|Counterparty Transaction}} that would not be a {{prov|{{igu}}|Problem Transaction}} and was entered into before termination and as to which the {{prov|{{igu}}|Dealer Notice}} has been promptly sent to {{prov|{{igu}}|Prime Broker}}.   
::(b) a {{prov|{{igu}}|Counterparty Transaction}} that would not be a {{prov|{{igu}}|Problem Transaction}} and was entered into before termination and as to which the {{prov|{{igu}}|Dealer Notice}} has been promptly sent to {{prov|{{igu}}|Prime Broker}}.   
 
:'''Immediately''': immediately if there is an {{isdaprov|Early Termination Date}} where {{isdaprov|Automatic Early Termination}} applies to ''either'' party.
:'''Immediately on default''': immediately if there is an {{isdaprov|Early Termination Date}} {{isdaprov|Automatic Early Termination}} applies to either party

Latest revision as of 14:47, 21 October 2016

Section 4 . Termination. This Agreement and any Designation Notice can be terminated by either the Prime Broker or the Dealer on notice delivered under Section 5(a).

Termination takes effect:

On notice: at the end of the notice period, but termination will not affect:
(a) an outstanding Accepted Transaction; or
(b) a Counterparty Transaction that would not be a Problem Transaction and was entered into before termination and as to which the Dealer Notice has been promptly sent to Prime Broker.
Immediately: immediately if there is an Early Termination Date where Automatic Early Termination applies to either party.
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