Prior notice

Chicken licken can have fun with this one. A prior notice must be given before the event in question, right? But what if the notice is given afterward, but is expressed to have retrospective effect? You may wish to strike someone who asks such a stupid question, for it is indeed worthy of a walloping, but it does happen. Spotted negotiated into a prime brokerage document — no doubt granted at length by an exasperated negotiator who was ultimately not prepared to die in a ditch about it:

“Unless otherwise agreed, we, acting in good faith, may change the terms applicable to any loan by giving you prior written notice (where reasonably practicable to you (such notice not to have retrospective effect).”

Shoot me. I mean, just shoot me.

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