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Termination Date - ISDA Definition: Difference between revisions
Termination Date - ISDA Definition (view source)
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{{ | {{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}}. | 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}}. | ||