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Precedent Notice Designating an Early Termination Date following a Force Majeure Termination Event under the 2002 ISDA Master Agreement (All or Selected Affected Transactions)

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Precedents

Notice designating an Early Termination Date following a Force Majeure Event

[ Insert Lead-in Language ] We hereby refer back to our notice dated [ insert date ] (the 'Original Notice'), formally advising you that a Force Majeure Event has occurred and that it constitutes a Termination Event for the purposes of the Agreement.

Waiting Period

[ No Waiting Period is expressly applicable to the Force Majeure Event, as it arose under Section 5(b)(ii)(2), specifically in relation to a payment, delivery or compliance obligation that was due on the date of the Original Notice.
A Waiting Period did apply to the Force Majeure Event and ended [ on [ insert date ] OR on or before the date of this notice ] ...

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Paul Cluley

As a partner in Allen & Overy's derivatives practices in Tokyo, Hong Kong and London for 20 years, Paul has worked on all aspects of derivatives and structured finance. He is particularly known for his work in contentious derivatives and terminations and is the author of the leading textbook in this area, "Close-outs: The law and market practice of OTC derivative terminations" (2024). He is also highly experienced in large corporate equity financings and derivatives, M&A of derivatives businesses, regulatory margin, repos, securities lending and repackagings....

Web page updated on 22/05/2026

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