Template:M comp disc 2002 ISDA Termination Event

See ISDA Comparison for a comparison between the 1992 ISDA and the 2002 ISDA.

A Termination Event is an event justifying one party unilaterally terminating a Transaction — or sometimes all Transactions — but that is generally of a nature that does not cast aspersions of impropriety on the other, or “Affected”, party. This makes a difference when it comes to how one calculates the Close-out Amount for the Transaction in question.