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Template:Nutshell ISDA Give-Up Termination: Difference between revisions
Template:Nutshell ISDA Give-Up Termination (view source)
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Section {{prov|{{igu}}|4}} . '''{{prov|{{igu}}|Termination}}'''. This {{prov|{{igu}}|Agreement}} | Section {{prov|{{igu}}|4}} . '''{{prov|{{igu}}|Termination}}'''. This {{prov|{{igu}}|Agreement}} and any {{prov|{{igu}}|Designation Notice}} can be terminated by either the {{prov|{{igu}}|Prime Broker}} or the {{prov|{{igu}}|Dealer}} on notice delivered under Section {{prov|{{igu}}|5(a)}}. | ||
Termination takes effect: | {{prov|{{igu}}|Termination}} takes effect: | ||
:'''On notice''': at the end of the notice period | :'''On notice''': at the end of the notice period, but termination will not affect: | ||
::(a) an outstanding {{prov|{{igu}}|Accepted Transaction}}; or | ::(a) an outstanding {{prov|{{igu}}|Accepted Transaction}}; or | ||
::(b) a {{prov|{{igu}}|Counterparty Transaction}} that would not be a {{prov|{{igu}}|Problem Transaction}} and was entered into before termination and as to which the {{prov|{{igu}}|Dealer Notice}} has been promptly sent to {{prov|{{igu}}|Prime Broker}}. | ::(b) a {{prov|{{igu}}|Counterparty Transaction}} that would not be a {{prov|{{igu}}|Problem Transaction}} and was entered into before termination and as to which the {{prov|{{igu}}|Dealer Notice}} has been promptly sent to {{prov|{{igu}}|Prime Broker}}. | ||
:'''Immediately''': immediately if there is an {{isdaprov|Early Termination Date}} where {{isdaprov|Automatic Early Termination}} applies to ''either'' party. | |||
:'''Immediately | |||