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| =={{1992ma}}==
| | {{nman|isda|2002|Terminated Transactions}} |
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| "Terminated Transactions" means with respect to any Early Termination Date (a) if resulting from a
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| Termination Event, all {{isdaprov|Affected Transaction}}s and (b) if resulting from an {{isdaprov|Event of Default}}, all {{isdaprov|Transaction}}s
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| (in either case) in effect immediately before the effectiveness of the notice designating that Early Termination
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| Date (or, if "{{isdaprov|Automatic Early Termination}}" applies, immediately before that Early Termination Date).
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| =={{2002ma}}==
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| "Terminated Transactions" means, with respect to any {{isdaprov|Early Termination Date}}, (a) if resulting from an Illegality or
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| a {{isdaprov|Force Majeure Event}}, all {{isdaprov|Affected Transaction}}s specified in the notice given pursuant to Section 6(b)(iv), (b) if
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| resulting from any other {{isdaprov|Termination Event}}, all {{isdaprov|Affected Transaction}}s and (c) if resulting from an {{isdaprov|Event of Default}},
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| all Transactions in effect either immediately before the effectiveness of the notice designating that Early Termination
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| Date or, if {{isdaprov|Automatic Early Termination}} applies, immediately before that {{isdaprov|Early Termination Date}}.
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| ==Proposed ISDA Protocol Amendments as a result of adjustment to {{isdaprov|Section 2(a)(iii)}}==
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| "Terminated Transactions" means, with respect to any {{isdaprov|Early Termination Date}}, (a) if resulting from an Illegality or
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| a {{isdaprov|Force Majeure Event}}, all {{isdaprov|Affected Transaction}}s specified in the notice given pursuant to Section 6(b)(iv), (b) if
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| resulting from any other {{isdaprov|Termination Event}}, all {{isdaprov|Affected Transaction}}s and (c) if resulting from an {{isdaprov|Event of Default}},
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| all Transactions''', in each case under which a party has or may have any obligation, including, without limitation,'''
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| '''an obligation to pay an amount that became payable (or would have become payable but for Section 2(a)(iii) or due'''
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| '''but for Section 5(d)) to the other party under Section 2(a)(i) or 2(d)(i)(4) on or prior to that Early Termination Date'''
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| '''and which remains unpaid as at such Early Termination Date.'''
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| {{isdaanatomy}}
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2002 ISDA Master Agreement
A Jolly Contrarian owner’s manual™
Terminated Transactions in a Nutshell™
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The JC’s Nutshell™ summary of this term has moved uptown to the subscription-only ninja tier. For the cost of ½ a weekly 🍺 you can get it here. Sign up at Substack. You can even ask questions! Ask about it here.
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Original text
Resources and Navigation
Index: Click ᐅ to expand:
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Comparisons
The 1992 ISDA just really tidied up the expression from the 1987 ISDA — here is a comparison.
The 2002 ISDA takes the 1992 ISDA adds a little detail to deal with Illegality and the newly-introduced Force Majeure notices — here is a comparison.
Basics
“Terminated Transactions” might help answer the vexed question of what that curious “by not more than 20 days’ notice” period for a close-out notice under Section 6(a) is meant to achieve. You may have a Transaction that is due to roll off and you want it to settle before you close out the portfolio. It is not a very compelling reason, in fairness. But it at least suggests someone on the ISDA drafting commitee was thinking about it, even if not especially insightfully.
Premium content
Here the free bit runs out. Subscribers click 👉 here. New readers sign up 👉 here and, for ½ a weekly 🍺 go full ninja about all these juicy topics👇
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See also
Template:Isda Terminated Transactions sa
References