Termination Event | Practical Law

Termination Event | Practical Law

Termination Event

Termination Event

Practical Law Glossary Item 1-386-4141 (Approx. 3 pages)

Glossary

Termination Event

Under a swap transaction documented using an ISDA® Master Agreement (ISDA® Master): Certain events specified in Section 5(b) of the ISDA® Master the occurrence of which with respect to a party to the ISDA® Master permits the counterparty to terminate the agreement and all transactions under the agreement prior to its or their scheduled expiration or termination dates. Termination events include illegality, tax event upon merger, and credit event upon merger. Additional Termination Events (ATEs) may be specified by the parties to the ISDA® Master in the ISDA® Schedule or the transaction confirmation.