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These [[events of default]] live in the pre-printed the agreement, and tend not to be negotiated (except perhaps [[cross-default]], and that's a whole different story). | These [[events of default]] live in the pre-printed the agreement, and tend not to be negotiated (except perhaps [[cross-default]], and that's a whole different story). | ||
====[[Additional termination events]]==== | ====[[Additional termination events]]==== | ||
Brokers will usually also require customised “[[additional termination event|additional termination events]]” tailored to the idiosyncrasies of their clients. For example, they will require of [[hedge fund]]s the right to terminate: | |||
*'''[[Key person]] events''': if named individual investment managers cease to be associated with the fund; | |||
*'''[[NAV trigger]]s''': if [[NAV trigger]]s granting close-out rights related to significant decreases in the [[net asset value]] of the fund. | |||
These customised events tend to be more controversial and more complicated: [[NAV trigger]]s may be set at different thresholds over different periods | These customised events tend to be more controversial, harder to articulate and more complicated: [[NAV trigger]]s may be set at different thresholds over different periods. | ||
====Margin==== | ====Margin==== | ||
Master trading agreements also have less invasive means of mitigating | Master trading agreements also have less invasive means of mitigating | ||