Part 5 - ISDA Give-Up provision: Difference between revisions
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''The [[2005 ISDA Master Give-Up Agreement]]'' | |||
A {{prov|{{igu}}|termination notice}} is one that is sent pursuant to Section {{prov|{{igu}}|4}} ({{prov|{{igu}}|Termination}}) of the 2005 {{igu}} Agreement. | A {{prov|{{igu}}|termination notice}} is one that is sent pursuant to Section {{prov|{{igu}}|4}} ({{prov|{{igu}}|Termination}}) of the 2005 {{igu}} Agreement. | ||
Revision as of 17:49, 21 October 2016
The 2005 ISDA Master Give-Up Agreement
A termination notice is 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].
See also
Section 4 (Termination) of the ISDA Give-Up Agreement