Termination Date - ISDA Definition

ISDA Definitions Go Premium 2006 ISDA Definitions 3.3. Termination Date. “Termination Date” means, in respect of a Swap Transaction, the date specified as such in the related Confirmation, which date is the last day of the Term of the Swap Transaction. The Termination Date shall not be subject to adjustment in accordance with any Business Day Convention unless the parties specify in the related Confirmation that the Termination Date will be adjusted in accordance with a specified Business Day Convention. (view template) Resources: 2006 ISDA DefinitionsArticles: 1 General definitions | 2 Parties | 3 Term and dates | 4 Definitions relating to payments | 5 Fixed Amounts | 6 Floating Amounts | 7 | 8 | 9 Payments | 10 | 11 | 12 | 13 Exercise of Options | 14 | 15 | 16 Optional Early Termination | 17 Mandatory Early Termination | 18 Cash Settlement | 19 ISDA Settlement Matrix | Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you. Sign up for our newsletter.

On the Termination Date a Transaction terminates but that does not mean it winks out of existence entirely, in the sense that all existing and future rights and obligations under that Transaction cease to exist. Instead, it is the final day on which new payment obligations (such as coupon payments) arise in respect of the Swap Transaction: a coupon payable the day after the termination date is just not payable under the swap. this isn’t any great surprise, of course. But existing rights and obligations under a Transaction continue to exist, and - for example, and subject to limitations and claims and so on, if, a year after the termination date, it becomes clear that a payment date fell under it — this seems odd, but might arise as the result of a dispute subsequently resolved by litigation, or retrospective legislation — then this amount would still be payable.