Termination Date - ISDA Definition: Difference between revisions

Termination Date - ISDA Definition (view source)

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-{{fullanat|isdadefs|3.3|2006}}
+{{isdadefsanat|3.3}}
+On the {{isdadefsprov|Termination Date}} a {{isdaprov|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 {{isdaprov|Transaction}} cease to exist. Instead, it is the last day ''on which new obligations arise'' under the {{isdadefsprov|Swap Transaction}}: a [[coupon]] payable the day ''after'' the termination date is just not payable under the {{isdadefsprov|Swap Transaction}}.
+This isn’t any great surprise, of course. But existing rights and obligations under a {{isdaprov|Transaction}} continue to exist, and — for example, and subject to [[limitation period]]s and counter-claims and so on, if, a year after the {{isdadefsprov|Termination Date}}, it emerges 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.
+{{Effective date trade date termination date}}