Default Notice sent to the Counterparty of an ISDA Master Agreement for failure to pay / deliver on the due date. A new deadline is given otherwise will result in early termination.
We hereby give you notice that unless such failure to [DEFAULT] is remedied on or before [DEADLINE], being the third Local Business Day after this notice is deemed effective, an Event of Default will have occurred until Section 5(a)(i) of the Agreement (Failure to Pay or Deliver). Thereupon, pursuant to Section 6 of the Agreement (Early Termination), the Company will be entitled to designate an Early Termination Date in respect of all Transactions.
In addition, pursuant to Section 2(a)(ii) of the Agreement, your failure to make a [DEFAULT] is a Potential Event of Default and we have the right to suspend all payments and deliveries specified in the relevant Confirmations immediately.
event of default,
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