Template:Nutshell ISDA Give-Up Termination: Difference between revisions

Section {{prov|igu|4}} . {{prov|igu}}. This {{prov|igu|Agreement}} or any {{prov|igu|Designation Notice}} remains in effect unless terminated by {{prov|igu|Prime Broker}} or {{prov|igu|Dealer}} on notice delivered under Section {{prov|igu|5(a)}} of this {{prov|igu|Agreement}}.  Notwithstanding the provisions of Section {{prov|igu|5}} of this {{prov|igu|Agreement}}, such termination notice shall be effective in accordance with the period of time specified in Part {{prov|igu|5}} of the {{prov|igu|Schedule}}; provided, however, that no such termination shall be effective in respect of either: (a) an outstanding {{prov|igu|Accepted Transaction}}; or (b) a {{prov|igu|Counterparty Transaction}} that would not be a {{prov|igu|Problem Transaction}} and that was entered into prior to the effectiveness of such termination and as to which the {{prov|igu|Dealer Notice}} has been promptly sent to {{prov|igu|Prime Broker}}.  This {{prov|igu|Agreement}} shall terminate immediately upon the occurrence of an {{isdaprov|Early Termination Date}} in respect of the [[ISDA Master Agreement]] between the parties if the parties have specified {{isdaprov|Automatic Early Termination}} as applying to either of the parties.