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Termination Event - Meaning

A set of prescribed events under the ISDA Master Agreement, the occurrence of any of which will allow the terminating party (or parties) to close out the transactions affected by the relevant Termination Event. Termination Events differ from Events of Default in that they generally relate to a change in circumstances resulting in one party (or both) being unwilling or unable to continue to honour its obligations. An Event of Default relates to a breach of obligations.

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