Template:M comp disc 1992 ISDA Termination Event: Difference between revisions
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{{ISDAnumberingdiscrepancy}} | {{isdacomparison}} {{ISDAnumberingdiscrepancy}} | ||
A {{isda92prov|Termination Event}} is an event justifying one party unilaterally terminating a {{isda92prov|Transaction}} — or sometimes all {{isda92prov|Transactions}} — but that is generally of a nature that does not cast aspersions of impropriety on the other, or “[[Affected Party - ISDA Provision|Affected]]”, party. This makes a difference when it comes to how one calculates the {{isda92prov|Close-out Amount}} for the Transaction in question. | |||
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Revision as of 08:20, 27 September 2022
A comparison between the 1992 ISDA and the 2002 ISDA can be found on the ISDA Comparison page.
Numbering Discrepancy: Note the numbering discrepancy in Section 5(b) between the 1992 ISDA and 2002 ISDA. This is caused by a new 5(b)(ii) (Force Majeure Event) in the 2002 ISDA before Tax Event, which is thus shunted from Section 5(b)(ii) (in the 1992 ISDA) to Section 5(b)(iii) (in the 2002 ISDA).
A Termination Event is an event justifying one party unilaterally terminating a Transaction — or sometimes all Transactions — but that is generally of a nature that does not cast aspersions of impropriety on the other, or “Affected”, party. This makes a difference when it comes to how one calculates the Close-out Amount for the Transaction in question.