Unless a Liquidation Date has occurred or has been effectively set, a Party shall not be obliged to make any payment or delivery scheduled to be made by that party under a Transaction governed by these terms for so as an Event of default or potential Event of default with respect to the other Party has occurred and is continuing.
Unless otherwise agreed in writing by the Parties, if the parties enter into any Transaction governed by these terms to close out any existing Transaction between the parties then their obligations under such transactions shall automatically and immediately be terminated upon entering into the second transaction, except for any settlement payment due from one party to the other in respect of such closed-out Transaction.