Early Termination & Closing Out of Transactions. Termination Following Event of Default 9.1 If at any time an Event of Default with respect to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the “Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all outstanding transactions.
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Sources: Foreign Exchange and Foreign Exchange Options Master Agreement, Foreign Exchange and Foreign Exchange Options Master Agreement