Notice (of Termination Event) - ISDA Provision
2002 ISDA Master Agreement
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Note the difficulty of practical compliance with this provision, given a sizeable ISDA portfolio, and the requirement for actively monitoring not only standard Termination Events, but also Additional Termination Events, which may be counterparty or even Transaction-specific.
Be aware of the notices provision of the ISDA Master Agreement, especially if you’re using a 1992 ISDA and you were thinking of serving by email — NatWest Bank could tell you a thing or two about that, as this lengthy article explains — or if the world happens to be in the grip of madness, hysteria, pandemic or something equally improbable like an alien invasion.
- The JC’s famous Nutshell™ summary of this clause
- “The chances of anything coming from Mars were a million-to-one,” he said. Yet, still they came.