Template:Nutshell ISDA Give-Up Termination: Difference between revisions
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::(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}} {{isdaprov|Automatic Early Termination}} applies to either party | :'''Immediately''': immediately if there is an {{isdaprov|Early Termination Date}} where {{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.