Template:Nutshell Equity Derivatives 12.2(a): Difference between revisions

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(Created page with "{{eqderivprov|12.2(a)}} “'''{{eqderivprov|Alternative Obligation}}'''”, then except for {{eqderivprov|Reverse Merger}}s, following the {{eqderivprov|Merger Date}}: *the re...")
 
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{{eqderivprov|12.2(a)}} “'''{{eqderivprov|Alternative Obligation}}'''”, then except for {{eqderivprov|Reverse Merger}}s, following the {{eqderivprov|Merger Date}}:
:{{eqderivprov|12.2(a)}} “'''{{eqderivprov|Alternative Obligation}}'''”, then except for {{eqderivprov|Reverse Merger}}s, following the {{eqderivprov|Merger Date}}:
*the relevant{{eqderivprov|New Shares}} or {{eqderivprov|Other Consideration}} (as modified by any relevant terms and including any proceeds of any redemption), and any new issuer will be deemed the “{{eqderivprov|Shares}}” and the “{{eqderivprov|Issuer}}”;
::(i) the relevant {{eqderivprov|New Shares}} or {{eqderivprov|Other Consideration}} (as modified by any relevant terms and including any proceeds of any redemption) will be deemed to be the “{{eqderivprov|Shares}}”  
*the number of {{eqderivprov|New Shares}} or {{eqderivprov|Other Consideration}}, (as so modified) to which an existing shareholder would be entitled upon completion of the {{eqderivprov|Merger Event}} will be deemed the relevant “{{eqderivprov|Number of Shares}}”; and  
::(ii) if relevant, the new issuer will be deemed to be the “{{eqderivprov|Issuer}}”;
*the {{eqderivprov|Calculation Agent}} will adjust any relevant terms, as necessary (but it will not adjust to account solely for changes in volatility, expected dividends, stock loan rate or liquidity);
::(iii) those {{eqderivprov|New Shares}} or {{eqderivprov|Other Consideration}} to which an existing shareholder would be entitled upon completion of the {{eqderivprov|Merger Event}} will be deemed the relevant “{{eqderivprov|Number of Shares}}”; and  
::(iv) the {{eqderivprov|Calculation Agent}} will make other adjustments to the terms, as necessary (but will not adjust to account solely for changes in volatility, expected dividends, stock loan rate or liquidity). <br>

Latest revision as of 16:19, 5 September 2018

12.2(a) “Alternative Obligation”, then except for Reverse Mergers, following the Merger Date:
(i) the relevant New Shares or Other Consideration (as modified by any relevant terms and including any proceeds of any redemption) will be deemed to be the “Shares”
(ii) if relevant, the new issuer will be deemed to be the “Issuer”;
(iii) those New Shares or Other Consideration to which an existing shareholder would be entitled upon completion of the Merger Event will be deemed the relevant “Number of Shares”; and
(iv) the Calculation Agent will make other adjustments to the terms, as necessary (but will not adjust to account solely for changes in volatility, expected dividends, stock loan rate or liquidity).
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