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

Section {{prov|{{igu}}|4}} . {{prov|igu|Termination}}. 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