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Right to Terminate - ISDA Provision: Difference between revisions
Right to Terminate - ISDA Provision (view source)
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To make it easier, we’ve invented some concepts: | To make it easier, we’ve invented some concepts: | ||
*“{{isdaprov|Unaffected Party}}” and “{{isdaprov|Unaffected Transaction}}” — saves you all that mucking around saying “the party who is not the {{isdaprov|Affected Party}}” and *“{{isdaprov|Transaction}}s other than those that are, or are deemed, to be {{isdaprov|Affected Transaction}}s” and so on) | *“{{isdaprov|Unaffected Party}}” and “{{isdaprov|Unaffected Transaction}}” — saves you all that mucking around saying “the party who is not the {{isdaprov|Affected Party}}” and *“{{isdaprov|Transaction}}s other than those that are, or are deemed, to be {{isdaprov|Affected Transaction}}s” and so on) | ||
*{{isdaprov|Termination Event Notice}} as an elegant and self-explanatory alternative to "after an {{isdaprov|Affected Party}} gives notice under Section {{isdaprov|6(b)(i)}} | *{{isdaprov|Termination Event Notice}} as an elegant and self-explanatory alternative to "after an {{isdaprov|Affected Party}} gives notice under Section {{isdaprov|6(b)(i)}}” | ||
*Take it as logically true that you can’t give 20 days’ notice of something which you designate as happening sooner than 20 days away. Therefore no need for all this “designate a day not earlier than the day such notice is effective” | |||
Here is how it works. | Here is how it works. | ||