Template:2002 ISDA Equity Derivatives Definitions 9.12: Difference between revisions
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Section {{eqderivprov|9.12}}. Indemnification for Failure to Deliver. If, in respect of any obligation to deliver {{eqderivprov|Shares}} under a {{eqderivprov|Transaction}}, prior to the occurrence or effective designation of an {{isdaprov|Early Termination Date}} in respect of that {{eqderivprov|Transaction}}, a party fails to perform any obligation required to be settled by delivery, it will indemnify the other party on demand for any costs, losses or expenses (including the costs of borrowing the relevant {{eqderivprov|Shares}}, if applicable) resulting from such failure. A certificate signed by the deliveree setting out such costs, losses or expenses in reasonable detail will be conclusive evidence that they have been incurred. Notwithstanding the foregoing, unless the parties otherwise agree to the contrary expressly and in writing in the related {{eqderivprov|Confirmation}}, a party shall not be responsible for any special, indirect or consequential damages, even if informed of the possibility thereof. <br> | Section {{eqderivprov|9.12}}. '''{{eqderivprov|Indemnification for Failure to Deliver}}'''. If, in respect of any obligation to deliver {{eqderivprov|Shares}} under a {{eqderivprov|Transaction}}, prior to the occurrence or effective designation of an {{isdaprov|Early Termination Date}} in respect of that {{eqderivprov|Transaction}}, a party fails to perform any obligation required to be settled by delivery, it will indemnify the other party on demand for any costs, losses or expenses (including the costs of borrowing the relevant {{eqderivprov|Shares}}, if applicable) resulting from such failure. A certificate signed by the deliveree setting out such costs, losses or expenses in reasonable detail will be conclusive evidence that they have been incurred. Notwithstanding the foregoing, unless the parties otherwise agree to the contrary expressly and in writing in the related {{eqderivprov|Confirmation}}, a party shall not be responsible for any special, indirect or consequential damages, even if informed of the possibility thereof. <br> | ||
Latest revision as of 08:39, 18 May 2018
Section 9.12. Indemnification for Failure to Deliver. If, in respect of any obligation to deliver Shares under a Transaction, prior to the occurrence or effective designation of an Early Termination Date in respect of that Transaction, a party fails to perform any obligation required to be settled by delivery, it will indemnify the other party on demand for any costs, losses or expenses (including the costs of borrowing the relevant Shares, if applicable) resulting from such failure. A certificate signed by the deliveree setting out such costs, losses or expenses in reasonable detail will be conclusive evidence that they have been incurred. Notwithstanding the foregoing, unless the parties otherwise agree to the contrary expressly and in writing in the related Confirmation, a party shall not be responsible for any special, indirect or consequential damages, even if informed of the possibility thereof.