Template:M summ GMRA 2(oo)

In the ordinary run of things, a repurchase Transaction has a fixed term and the Repurchase Date will be agreed up front and set out in the Confirmation. The unusual case is the “demand” Transaction, where one or other party, or both, can set a Repurchase Date at any time, though it must always be at least a standard settlement cycle after the demand is issued, for fairly obvious practical reasons.