Template:Nutshell Equity Derivatives 12.6(a): Difference between revisions

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{{eqderivprov|12.6(a)}} The following terms have the meanings given below: <br>
{{eqderivprov|12.6(a)}} The following [[definition]]s apply: <br>
:(i) “'''{{eqderivprov|Nationalization}}'''” means that all the {{eqderivprov|Shares}} or all or substantially all the assets of an {{eqderivprov|Issuer}} are nationalized, expropriated or are otherwise required to be transferred to any governmental agency, authority, entity or instrumentality thereof; <br>
:(i) “'''{{eqderivprov|Nationalization}}'''” means all an {{eqderivprov|Issuer}}’s {{eqderivprov|Shares}} or substantially all of its assets have to be transferred to a government; <br>
:(ii) “'''{{eqderivprov|Insolvency}}'''” means that by reason of the voluntary or involuntary liquidation, bankruptcy, insolvency, dissolution or winding-up of or any analogous proceeding affecting an {{eqderivprov|Issuer}}, (A) all the {{eqderivprov|Shares}} of that {{eqderivprov|Issuer}} are required to be transferred to a trustee, liquidator or other similar official or (B) holders of the {{eqderivprov|Shares}} of that Issuer become legally prohibited from transferring them; and <br>
:(ii) “'''{{eqderivprov|Insolvency}}'''” means that an {{eqderivprov|Issuer}} becomes insolvent and:
:(iii) “'''{{eqderivprov|Delisting}}'''” means that the {{eqderivprov|Exchange}} announces that pursuant to the rules of such {{eqderivprov|Exchange}}, the {{eqderivprov|Shares}} cease (or will cease) to be listed, traded or publicly quoted on the Exchange for any reason (other than a {{eqderivprov|Merger Event}} or {{eqderivprov|Tender Offer}}) and are not immediately re-listed, re-traded or re-quoted on an exchange or quotation system located in the same country as the {{eqderivprov|Exchange}} (or, where the {{eqderivprov|Exchange}} is within the [[European Union]], in any member state of the [[European Union]]).<br>
::(A) all its {{eqderivprov|Shares}} have to be transferred to an insolvency administrator or  
::(B) {{eqderivprov|Share}}holders  of that {{eqderivprov|Issuer}} are prohibited from transferring them; and <br>
:(iii) “'''{{eqderivprov|Delisting}}'''” means that the {{eqderivprov|Exchange}} announces that the {{eqderivprov|Shares}} will cease to be listed on the {{eqderivprov|Exchange}}  (except because of  a {{eqderivprov|Merger Event}} or {{eqderivprov|Tender Offer}}) and are not immediately re-listed on another exchange in the same country (or, where the {{eqderivprov|Exchange}} is in the [[European Union]], in the [[European Union]]).<br>

Latest revision as of 11:42, 21 April 2022

12.6(a) The following definitions apply:

(i) “Nationalization” means all an Issuer’s Shares or substantially all of its assets have to be transferred to a government;
(ii) “Insolvency” means that an Issuer becomes insolvent and:
(A) all its Shares have to be transferred to an insolvency administrator or
(B) Shareholders of that Issuer are prohibited from transferring them; and
(iii) “Delisting” means that the Exchange announces that the Shares will cease to be listed on the Exchange (except because of a Merger Event or Tender Offer) and are not immediately re-listed on another exchange in the same country (or, where the Exchange is in the European Union, in the European Union).
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