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

Revision as of 13:21, 3 May 2022

12.3(d) If “Modified Calculation Agent Adjustment” is specified then, after the Merger Date, the Calculation Agent will either

(i) adjust the Transaction to account for the economic effect of the Merger Date in its determination, or

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-:{{eqderivprov|12.3(d)}} If “'''{{eqderivprov|Modified Calculation Agent Adjustment (Tender Offers)}}'''” is specified then, after the {{eqderivprov|Merger Date}}, the {{eqderivprov|Issuer}} and the {{eqderivprov|Shares}} will not change, but {{eqderivprov|Calculation Agent}} will either (i) adjust the {{eqderivprov|Transaction}} to account for the economic effect of the {{eqderivprov|Merger Date}} in its determination, or (ii) if that would not produce a [[commercially reasonable]] result, terminate the Transaction, in which case “{{eqderivprov|Cancellation and Payment}}” will under Section {{eqderivprov|12.7}} (and for an {{eqderivprov|Option Transaction}}, “{{eqderivprov|Calculation Agent Determination}}” will apply). <br>
+:{{eqderivprov|12.3(d)}} If “'''{{eqderivprov|Modified Calculation Agent Adjustment}}'''” is specified then, after the {{eqderivprov|Merger Date}}, the {{eqderivprov|Calculation Agent}} will either
+::(i) adjust the {{eqderivprov|Transaction}} to account for the economic effect of the {{eqderivprov|Merger Date}} in its determination, or
+::(ii) if that would not produce a [[commercially reasonable]] result, terminate the {{eqderivprov|Transaction}}, at “{{eqderivprov|Cancellation and Payment}}” (or, for an {{eqderivprov|Option Transaction}}, “{{eqderivprov|Calculation Agent Determination}}”) under Section {{eqderivprov|12.7}}. <br>