Part 5 - ISDA Give-Up provision: Difference between revisions

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===See also===
{{Giveupterminationboilerplate}}
Section {{prov|{{igu}}|4}} ({{prov|{{igu}}|Termination}}) of the {{igu}} Agreement

Latest revision as of 18:18, 21 October 2016

The 2005 ISDA Master Give-Up Agreement


A termination notice is one that is sent pursuant to Section 4 (Termination) of the 2005 ISDA Give-Up Agreement.

Effectiveness of a termination notice is handled, irritatingly, by Part 5 of the Schedule.

To cut a long story short, that provides as follows:

Part 5. Termination notice. For the purpose of Section 4 of this Agreement, the termination notice shall be effective:
[X] one hour after receipt of such termination notice; or
[ ] as of the Modification Time.
Modification Time” means [[ ] hour[s] after receipt of such termination notice][as of the opening of business on the Business Day in the recipient’s location following the date of receipt of such termination notice].


See also