Template:Nutshell Equity Derivatives 1.45: Difference between revisions
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{{eqderivprov|1.45}}. '''{{eqderivprov|Knock-out Event}}'''. | |||
:(a) If “'''{{eqderivprov|Knock-out Event}}'''” applies, a party’s right to exercise an {{eqderivprov|Option}} under a {{eqderivprov|Transaction}} will be conditional upon the {{eqderivprov|Knock-out Event}} not having occurred on any {{eqderivprov|Knock-out Determination Day}} as of the time of such exercise, and the parties’ respective rights and obligations will be altered from the occurrence of the {{eqderivprov|Knock-out Event}} as specified in the {{eqderivprov|Confirmation}}. | :(a) If “'''{{eqderivprov|Knock-out Event}}'''” applies, a party’s right to exercise an {{eqderivprov|Option}} under a {{eqderivprov|Transaction}} will be conditional upon the {{eqderivprov|Knock-out Event}} not having occurred on any {{eqderivprov|Knock-out Determination Day}} as of the time of such exercise, and the parties’ respective rights and obligations will be altered from the occurrence of the {{eqderivprov|Knock-out Event}} as specified in the {{eqderivprov|Confirmation}}. | ||
:(b) “'''{{eqderivprov|Knock-out Event}}'''” must be specified in the {{eqderivprov|Confirmation}}. If it is not, but the {{eqderivprov|Confirmation}} specifies a {{eqderivprov|Knock-out Price}} for a {{eqderivprov|Knock-out Reference Security}} that is also the specified {{eqderivprov|Index}}, {{eqderivprov|Share}} or {{eqderivprov|Basket}} for that {{eqderivprov|Transaction}}, the {{eqderivprov|Knock-out Event}} will occur: | :(b) “'''{{eqderivprov|Knock-out Event}}'''” must be specified in the {{eqderivprov|Confirmation}}. If it is not, but the {{eqderivprov|Confirmation}} specifies a {{eqderivprov|Knock-out Price}} for a {{eqderivprov|Knock-out Reference Security}} that is also the specified {{eqderivprov|Index}}, {{eqderivprov|Share}} or {{eqderivprov|Basket}} for that {{eqderivprov|Transaction}}, the {{eqderivprov|Knock-out Event}} will occur: |