termination right
Defined in Article 2, Directive (EU) 2025/1 (IRRD)
Definitions over time (1)
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For the purposes of this Directive, the following definitions apply:
‘termination right’ means a right to terminate a contract, a right to accelerate, close out, set-off or net obligations or any similar provision that suspends, modifies or extinguishes an obligation of a party to the contract or a provision that prevents an obligation under the contract from arising that would otherwise arise;