No-fault termination

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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 — and even then you can’t finally kill it — or Hotel California. That’s right: without some special pleading — involving garlic, wooden stakes and the agreement of the parties, an ISDA cannot die.

See also

• Events of default
• Nosferatu
• Undead ISDA
• Termination events
• Close out