Termination of course of dealings by notice - OSLA Provision: Difference between revisions

Jump to navigation Jump to search
No edit summary
No edit summary
Line 10: Line 10:


===Clause comparison with {{isdama}}===
===Clause comparison with {{isdama}}===
By way of ''further'' comparison, the {{isdama}} doesn't have a general termination right of this sort ''at all''. You can ''on'' terminate transactions, not the master agreement construct which sits around them. This is to do with paranoid fears about the efficacy of netting, but I like to think it has unleashed on the world an army of wight-walking zombie ISDAs, doomed to roam the earth until the day of judgment, apropos nothing but there, just in case Aslan returns, Sauron is reincarnated etc.
By way of ''further'' comparison, the {{isdama}} doesn’t have a general termination right of this sort ''at all''. You can ''only'' terminate {{isdaprov|Transactions}}, not the master agreement construct which sits around them itself. It is an immortal husk. This is to do with paranoid fears about the efficacy of the ISDA’s sainted [[close-out netting]] terms — meh; maybe — but I like to think it has unleashed on the world an army of wight-walker zombie ISDAs, doomed to roam the earth until the [[Omega|day of judgment]], apropos nothing but there, undead, and ready to animate and rally to the banner of Sauron, Beelzebub, [[Lehman Brothers]] etc., should they be reincarnated, to rain apocalyptic hell on the armies of men.
Retrieved from "https://jollycontrarian.com/index.php?title=Termination_of_course_of_dealings_by_notice_-_OSLA_Provision"