Termination Date - ISDA Definition: Difference between revisions
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{{fullanat|isdadefs|3.3|2006}} | {{fullanat|isdadefs|3.3|2006}} | ||
On the {{isdadefsprov|Termination Date}} a {{isdaprov|Transaction}} terminates but that does not mean it winks out of existence entirely, in the sense that all existing and future rights and obligations under that {{isdaprov|Transaction}} cease to exist. Instead, it is the final day on which new payment obligations (such as coupon payments) arise in respect of the Swap Transaction: a coupon payable the day after the termination date is just not payable under the swap. this isn’t any great surprise, of course. But existing rights and obligations under a Transaction continue to exist, and - for example, and subject to limitations and claims and so on, if, a year after the termination date, it becomes clear that a payment date fell under it — this seems odd, but might arise as the result of a dispute subsequently resolved by litigation, or retrospective legislation — then this amount would still be payable. | |||