Termination notice - ISDA Give-Up provision: Difference between revisions

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To cut a long story short, that provides as follows:
To cut a long story short, that provides as follows:


{{box|
:{{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:  
::[X] one hour after receipt of such termination notice; or <br />
 
::[  ] as of the {{prov|{{igu}}|Modification Time}}.<br />
:[X] one hour after receipt of such termination notice; or
:“{{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 />
:[  ] as of the {{prov|{{igu}}|Modification Time}}.
 
“{{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].
 
}}

Revision as of 17:38, 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.
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].