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| Section {{eqderivprov|2.1}}. Certain Definitions and Provisions Relating to Option Transactions. When used in relation to an {{eqderivprov|Option Transaction}}, the following terms have the indicated meanings: <br> | | Section {{eqderivprov|2.1}}. '''{{eqderivprov|Certain Definitions and Provisions Relating to Option Transactions}}'''. When used in relation to an {{eqderivprov|Option Transaction}}, the following terms have the indicated meanings: <br> |
| :(a) Commencement Date. “'''{{eqderivprov|Commencement Date}}'''” means, in respect of an {{eqderivprov|American Option}} Transaction, the date specified as such in the related {{eqderivprov|Confirmation}} or, if such date is not a {{eqderivprov|Scheduled Trading Day}}, the next following {{eqderivprov|Scheduled Trading Day}}. If no such date is specified, the Commencement Date shall be the {{eqderivprov|Trade Date}}.
| | {{2002 ISDA Equity Derivatives Definitions 2.1(a)}} |
| :(b) '''{{eqderivprov|Number of Options}}'''. “'''{{eqderivprov|Number of Options}}'''” means the number specified as such in the related {{eqderivprov|Confirmation}}, being the number of {{eqderivprov|Options}} comprised in the relevant {{eqderivprov|Option Transaction}}.
| | {{2002 ISDA Equity Derivatives Definitions 2.1(b)}} |
| :(c) '''{{eqderivprov|Option Entitlement}}'''. “'''{{eqderivprov|Option Entitlement}}'''” means, in respect of a {{eqderivprov|Share Option Transaction}}, the number of {{eqderivprov|Shares}} per {{eqderivprov|Option}} specified as such in the related {{eqderivprov|Confirmation}} and, in respect of a {{eqderivprov|Share Basket Option Transaction}}, the number of {{eqderivprov|Baskets}} per {{eqderivprov|Option}} specified as such in the related {{eqderivprov|Confirmation}}. [[in that the event that]] no {{eqderivprov|Option Entitlement}} is specified in the related {{eqderivprov|Confirmation}}, the {{eqderivprov|Option Entitlement}} in respect of any {{eqderivprov|Share Option Transaction}} shall be one {{eqderivprov|Share}} per {{eqderivprov|Option}}, and in respect of any {{eqderivprov|Share Basket Option Transaction}} shall be one {{eqderivprov|Basket}} per {{eqderivprov|Option}}.
| | {{2002 ISDA Equity Derivatives Definitions 2.1(c)}} |
| :(d) '''{{eqderivprov|Option}}'''. “'''{{eqderivprov|Option}}'''” means, in respect of an {{eqderivprov|Option Transaction}}, each unit into which the {{eqderivprov|Option Transaction}} is divided for purposes of exercise, valuation or settlement.
| | {{2002 ISDA Equity Derivatives Definitions 2.1(d)}} |
| :(e) '''{{eqderivprov|Strike Price}}'''. “'''{{eqderivprov|Strike Price}}'''” means: <br>
| | {{2002 ISDA Equity Derivatives Definitions 2.1(e)}} |
| ::(i) in respect of an {{eqderivprov|Index Option Transaction}}, the level of the relevant {{eqderivprov|Index}} specified or otherwise determined as provided in the related {{eqderivprov|Confirmation}}; <br>
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| ::(ii) in respect of a {{eqderivprov|Share Option Transaction}}, the price per {{eqderivprov|Share}} specified or otherwise determined as provided in the related {{eqderivprov|Confirmation}}; <br>
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| ::(iii) in respect of an {{eqderivprov|Index Basket Option Transaction}}, the amount per {{eqderivprov|Basket}} specified or otherwise determined as provided in the related {{eqderivprov|Confirmation}}; and <br>
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| ::(iv) in respect of a {{eqderivprov|Share Basket Option Transaction}}, the amount per {{eqderivprov|Basket}} specified or otherwise determined as provided in the related {{eqderivprov|Confirmation}}. <br>
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