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| | | :{{isda92prov|6(b)(iv)}} '''{{isda92prov|Right to Terminate}}''': If the {{isda92prov|Termination Event}} still exists but:― |
| :{{isdaprov|6(b)(iv)}} '''{{isdaprov|Right to Terminate}}''' | | ::(1) '''Tax {{isda92prov|Termination Event}}s''': a neither party has managed to avoid a {{isda92prov|Tax Event}} or {{isda92prov|Tax Event Upon Merger}} as contemplated in Section {{isda92prov|6(b)(ii)}} or {{isda92prov|6(b)(iii)}} within 30 days of a {{isda92prov|Termination Event Notice}}; or |
| :(1) '''{{isdaprov|Termination Event}}s other than {{isdaprov|Illegality}} and {{isdaprov|Force Majeure Event}}s''': If the {{isdaprov|Termination Event}} still exists but:―
| | ::(2) '''Other {{isda92prov|Termination Event}}s''': there is an {{isda92prov|Illegality}}, a {{isda92prov|Credit Event Upon Merger}}, an {{isda92prov|Additional Termination Event}} or a {{isda92prov|Tax Event Upon Merger}} where the {{isda92prov|Burdened Party}} is not the {{isda92prov|Affected Party}}: |
| ::(A) '''Tax {{isdaprov|Termination Event}}s''': a neither party has managed to avoid a {{isdaprov|Tax Event}} or {{isdaprov|Tax Event Upon Merger}} as contemplated in Section {{isdaprov|6(b)(ii)}} or {{isdaprov|6(b)(iii)}} within 30 days of a {{isdaprov|Termination Event Notice}}; or | | :either party (if both are {{isda92prov|Affected Parties}}) or the {{isda92prov|Non-Affected Party}} (in any other case) may, on not more than 20 days’ notice, designate an {{isda92prov|Early Termination Date}} for ''all'' {{isda92prov|Affected Transactions}}. |
| ::(B) '''Other {{isdaprov|Termination Event}}s''': there is a {{isdaprov|Credit Event Upon Merger}}, an {{isdaprov|Additional Termination Event}} or a {{isdaprov|Tax Event Upon Merger}} where the {{isdaprov|Burdened Party}} is not the {{isdaprov|Affected Party}}: | |
| :either party (if both are {{isdaprov|Affected Parties}}) or the {{isdaprov|Non-Affected Party}} (in any other case) may, on not more than 20 days’ notice, designate an {{isdaprov|Early Termination Date}} for ''all'' {{isdaprov|Affected Transactions}}. | |
| :(2) '''{{isdaprov|Illegality}} and {{isdaprov|Force Majeure Event}}s''': If an {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}} still exists when its {{isdaprov|Waiting Period}} has expired:―
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| ::(A) Subject to clause (B) below, ''either'' party may, on not more than 20 days’ notice, designate an {{isdaprov|Early Termination Date}}:
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| :::(I) for ''all'' {{isdaprov|Affected Transactions}}, or
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| :::(II) for ''fewer than all'' {{isdaprov|Affected Transactions}} by specifying which {{isdaprov|Affected Transactions}} it wishes to terminate, effective no earlier than two {{isdaprov|Local Business Days}} following the effective day of its notice, as an {{isdaprov|Early Termination Date}} for those designated {{isdaprov|Affected Transactions}} only. In this case the other party may, by notice, terminate any of the outstanding {{isdaprov|Affected Transactions}} as of the same {{isdaprov|Early Termination Date}}.
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| ::(B) Where the {{isdaprov|Illegality}} or {{isdaprov|Force Majeure Event}} relates to performance under a {{isdaprov|Credit Support Document}}, an {{isdaprov|Affected Party}} may only designate an {{isdaprov|Early Termination Date}} following designation by the other party of an {{isdaprov|Early Termination Date}}, for fewer than all {{isdaprov|Affected Transactions}} under this Section. <br/>
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