Template:2002 ISDA Equity Derivatives Definitions Dividend Recovery: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "'''{{eqderivprov|Dividend Recovery}}''': If: <br> :(i) the amount actually paid or delivered by an Issuer to holders of record of the relevant {{eqderivprov|Share}} in respect..." |
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'''{{eqderivprov|Dividend Recovery}}''': If: <br> | '''{{eqderivprov|Dividend Recovery}}''': If: <br> | ||
:(i) the amount actually paid or delivered by an Issuer to holders of record of the relevant {{eqderivprov|Share}} in respect of any {{eqderivprov|Qualifying Dividend}} | :(i) the amount actually paid or delivered by an Issuer to holders of record of the relevant {{eqderivprov|Share}} in respect of any {{eqderivprov|Qualifying Dividend}} declared by such {{eqderivprov|Issuer}} (a “'''{{eqderivprov|Declared Dividend}}'''”) to holders of record of such {{eqderivprov|Share}} is not equal to such {{eqderivprov|Declared Dividend}} (a “'''{{eqderivprov|Dividend Mismatch Event}}'''”); or <br> | ||
declared by such {{eqderivprov|Issuer}} (a “'''{{eqderivprov|Declared Dividend}}'''”) to holders of record of such {{eqderivprov|Share}} is not equal to such {{eqderivprov|Declared Dividend}} (a “'''{{eqderivprov|Dividend Mismatch Event}}'''”); or <br> | :(ii) such {{eqderivprov|Issuer}} fails to make any payment or delivery in respect of such {{eqderivprov|Declared Dividend}} by the third {{eqderivprov|Business Day}} following the relevant due date, then the {{eqderivprov|Calculation Agent}} may (but need not) determine any appropriate correction or repayment to be made by a party to account for such {{eqderivprov|Dividend Mismatch Event}} or non-payment or non-delivery, [[as the case may be]], and determine the date any such repayment should be made, together with interest on such repayment amount as determined by the {{eqderivprov|Calculation Agent}}. <br> | ||
:(ii) such Issuer fails to make any payment or delivery in respect of such {{eqderivprov|Declared Dividend}} by the third {{ | |||
The parties expressly acknowledge and agree that the provisions of this section ({{eqderivprov|Dividend Recovery}}) shall apply and remain in full force and effect notwithstanding the fact that the {{eqderivprov|Termination Date}} has occurred. <br> | The parties expressly acknowledge and agree that the provisions of this section ({{eqderivprov|Dividend Recovery}}) shall apply and remain in full force and effect notwithstanding the fact that the {{eqderivprov|Termination Date}} has occurred. <br> | ||
Latest revision as of 09:45, 11 September 2018
Dividend Recovery: If:
- (i) the amount actually paid or delivered by an Issuer to holders of record of the relevant Share in respect of any Qualifying Dividend declared by such Issuer (a “Declared Dividend”) to holders of record of such Share is not equal to such Declared Dividend (a “Dividend Mismatch Event”); or
- (ii) such Issuer fails to make any payment or delivery in respect of such Declared Dividend by the third Business Day following the relevant due date, then the Calculation Agent may (but need not) determine any appropriate correction or repayment to be made by a party to account for such Dividend Mismatch Event or non-payment or non-delivery, as the case may be, and determine the date any such repayment should be made, together with interest on such repayment amount as determined by the Calculation Agent.
The parties expressly acknowledge and agree that the provisions of this section (Dividend Recovery) shall apply and remain in full force and effect notwithstanding the fact that the Termination Date has occurred.