Termination - ISDA Give-Up provision: Difference between revisions

''The [[2005 ISDA Master Give-Up Agreement]]''

You may terminate a give-up by giving notice. Terminating won’t affect live transactions. If {{isdaprov|AET}} applies to ''either'' party in your {{isdama}}, give-ups will terminate automatically on an {{isdaprov|Event of Default}} causing [[automatic early termination]]. Termination is effective, depending on what you've elected in {{prov|{{igu}}|Part 5}} of the {{prov|{{igu}}|Schedule}} to the {{prov|{{igu}}|Agreement}}, a given number of hours after ''receipt'' of notice. Exactly what constitutes “receipt” is covered by Section {{prov|{{igu}}|5(a)}} of the {{prov|{{igu}}|Agreement}}. This may do your head in, be warned. So:

*''When'', and with how much notice you may terminate: Section {{prov|{{igu}}|4}} ({{prov|{{igu}}|Termination}}).

*''How long'' after your notice is effective, the termination of the Agreement is effective: {{prov|{{igu}}|Part 5}} of the {{prov|{{igu}}|Schedule}}.