Template:20 days notice ISDA: Difference between revisions

One is just expected to ''know''. Yet, in point of fact, no-one seems to.  And no-one wants to risk looking stupid by asking, right? Well, companions, just ''not knowing'' is not how we contrarians roll. We ''like'' looking stupid. Compared with plain old ignorance, it speaks to having at least put in some ''effort'', even if wasted: noble but futile toil is flattering in some lights. So, in the absence of a credentialised, plausible reason,<ref>And we have done our due diligence, you know: in coming to this conclusion the [[JC]] has consulted [[Magic circle law firm]] partners, [[managing director]]s, [[In-house lawyer|inhouse]] [[GC]]s and even a former [[general counsel]] of ISDA, all of whom swore me to secrecy but were as nonplussed as, let’s face it, ''you'' are about this baffling clause.</ref> let us ''speculate''.

The first thing to say, is the {{{{{1}}}|Early Termination Date}} is ''not'' the date on which you must ''pay'' an {{{{{1}}}|Early Termination Amount}} nor, for that matter, even have ''calculated'' it: it is the date ''by reference to which'' you must calculate an Early Termination Amount. Thanks to the good graces of Sectrion {{{{{1}}}|6(d)}}, provided you so as soon as reasonably practicable, you have time to calculate your values diligently and properly.