Template:2002 ISDA Equity Derivatives Definitions 5.10: Difference between revisions
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Section {{eqderivprov|5.10}}. {{eqderivprov|Equity Notional Reset}}. In respect of each {{eqderivprov|Cash Settlement Payment Date}} for an | Section {{eqderivprov|5.10}}. '''{{eqderivprov|Equity Notional Reset}}'''. In respect of each '''{{eqderivprov|Cash Settlement Payment Date}}''' for an {{eqderivprov|Equity Amount Payer}} under an {{eqderivprov|Equity Swap Transaction}}, if “{{eqderivprov|Equity Notional Reset}}” is specified as applicable in the related {{eqderivprov|Confirmation}}, then: | ||
:(a) the {{eqderivprov|Equity Notional Amount}} applicable in respect of the first Cash Settlement Payment | :(a) the {{eqderivprov|Equity Notional Amount}} applicable in respect of the first [[Cash Settlement Payment Date - Equity Derivatives Provision|Cash Settlement Payment]] [[Cash Settlement Payment Date - Equity Derivatives Provision|Date]] for that {{eqderivprov|Equity Amount Payer}} under the relevant {{eqderivprov|Equity Swap Transaction}} will be the amount specified as such in the related {{eqderivprov|Confirmation}}; | ||
:(b) the {{eqderivprov|Equity Notional Amount}} applicable in respect of each subsequent Cash Settlement | :(b) the {{eqderivprov|Equity Notional Amount}} applicable in respect of each subsequent [[Cash Settlement Payment Date - Equity Derivatives Provision|Cash Settlement]] [[Cash Settlement Payment Date - Equity Derivatives Provision|Payment Date]] will be the sum of (i) the {{eqderivprov|Equity Notional Amount}} in respect of the prior [[Cash Settlement Payment Date - Equity Derivatives Provision|Cash Settlement]] [[Cash Settlement Payment Date - Equity Derivatives Provision|Payment Date]] and (ii) the {{eqderivprov|Equity Amount}}, whether positive or negative, in respect of the prior [[Cash Settlement Payment Date - Equity Derivatives Provision|Cash]] [[Cash Settlement Payment Date - Equity Derivatives Provision|Settlement Payment Date]]; and | ||
:(c) if a | :(c) if a “{{eqderivprov|Notional Amount}}” has been specified in the related {{eqderivprov|Confirmation}} in relation to the other party, the {{eqderivprov|Notional Amount}} will be adjusted, unless otherwise specified in the related {{eqderivprov|Confirmation}}, as provided in sub-clauses (a) and (b) above as though it were an {{eqderivprov|Equity Notional Amount}}. <br> | ||
Latest revision as of 11:14, 13 September 2018
Section 5.10. Equity Notional Reset. In respect of each Cash Settlement Payment Date for an Equity Amount Payer under an Equity Swap Transaction, if “Equity Notional Reset” is specified as applicable in the related Confirmation, then:
- (a) the Equity Notional Amount applicable in respect of the first Cash Settlement Payment Date for that Equity Amount Payer under the relevant Equity Swap Transaction will be the amount specified as such in the related Confirmation;
- (b) the Equity Notional Amount applicable in respect of each subsequent Cash Settlement Payment Date will be the sum of (i) the Equity Notional Amount in respect of the prior Cash Settlement Payment Date and (ii) the Equity Amount, whether positive or negative, in respect of the prior Cash Settlement Payment Date; and
- (c) if a “Notional Amount” has been specified in the related Confirmation in relation to the other party, the Notional Amount will be adjusted, unless otherwise specified in the related Confirmation, as provided in sub-clauses (a) and (b) above as though it were an Equity Notional Amount.