Termination notice - ISDA Give-Up provision: Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 6: | Line 6: | ||
:{{prov|{{igu}}|Part 5}}. '''{{prov|{{igu}}|Termination notice}}'''. For the purpose of Section {{prov|{{igu}}|4}} of this {{prov|{{igu}}|Agreement}}, the {{prov|{{igu}}|termination notice}} shall be effective: <br /> | :{{prov|{{igu}}|Part 5}}. '''{{prov|{{igu}}|Termination notice}}'''. For the purpose of Section {{prov|{{igu}}|4}} of this {{prov|{{igu}}|Agreement}}, the {{prov|{{igu}}|termination notice}} shall be effective: <br /> | ||
::[X] one hour after receipt of such termination notice; or <br /> | ::[X] one hour after receipt of such {{prov|{{igu}}|termination notice}}; or <br /> | ||
::[ ] as of the {{prov|{{igu}}|Modification Time}}.<br /> | ::[ ] as of the {{prov|{{igu}}|Modification Time}}.<br /> | ||
:“{{prov|{{igu}}|Modification Time}}” means [[ ] hour[s] after receipt of such termination notice][as of the opening of business on the Business Day in the recipient’s location following the date of receipt of such termination notice].<br /> | :“{{prov|{{igu}}|Modification Time}}” means [[ ] hour[s] after receipt of such {{prov|{{igu}}|termination notice}}][as of the opening of business on the Business Day in the recipient’s location following the date of receipt of such {{prov|{{igu}}|termination notice}}].<br /> | ||
Revision as of 17:39, 21 October 2016
One that is sent pursuant to Section 4 (Termination) of the 2005 ISDA Give-Up Agreement.
Effectiveness of a termination notice is handled, irritatingly, by Part 5 of the Schedule.
To cut a long story short, that provides as follows:
- Part 5. Termination notice. For the purpose of Section 4 of this Agreement, the termination notice shall be effective:
- [X] one hour after receipt of such termination notice; or
- [ ] as of the Modification Time.
- [X] one hour after receipt of such termination notice; or
- “Modification Time” means [[ ] hour[s] after receipt of such termination notice][as of the opening of business on the Business Day in the recipient’s location following the date of receipt of such termination notice].