No-fault termination

Conclusion of one’s contractual arrangements without any hot-headedness, jabbing fingers or hurt feelings. Terminating a contract by delivering notice, and announcing, apropos nothing in particular, that it’s time to move on.

To be contrasted with termination with extreme prejudice.

Fun fact: There is no means to terminate an ISDA Master Agreement on notice. Either you go Full Metal Jacket, or Hotel California.

See also

• Events of default
• Termination events
• Close out