Template:2002 ISDA Equity Derivatives Definitions 11.1(b): Difference between revisions

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:{{eqderivprov|11.1(b)}} If (i) on or prior to any {{eqderivprov|Valuation Date}} in respect of an {{eqderivprov|Index Transaction}} or Index <br>Basket Transaction, a relevant {{eqderivprov|Index Sponsor}} announces that it will make a material change in the <br>formula for or the method of calculating that {{eqderivprov|Index}} or in any other way materially modifies that {{eqderivprov|Index}} <br>(other than a modification prescribed in that formula or method to maintain that {{eqderivprov|Index}} in the event of <br>changes in constituent stock and capitalization and other routine events) (an "'''{{eqderivprov|Index Modification}}'''") or <br>permanently cancels the {{eqderivprov|Index}} and no {{eqderivprov|Successor Index}} exists (an "'''{{eqderivprov|Index Cancellation}}'''") or (ii) on any <br>{{eqderivprov|Valuation Date}} in respect of an {{eqderivprov|Index Transaction}} or {{eqderivprov|Index Basket Transaction}}, the {{eqderivprov|Index Sponsor}} fails to <br>calculate and announce a relevant {{eqderivprov|Index}} (an "'''{{eqderivprov|Index Disruption}}'''" and together with an {{eqderivprov|Index Modification}} <br>and an {{eqderivprov|Index Cancellation}}, each an "'''{{eqderivprov|Index Adjustment Event}}'''"), then: <br>
{{eqderivprov|11.1(b)}} If (i) on or prior to any {{eqderivprov|Valuation Date}} in respect of an {{eqderivprov|Index Transaction}} or {{eqderivprov|Index Basket Transaction}}, a relevant {{eqderivprov|Index Sponsor}} announces that it will make a material change in the formula for or the method of calculating that {{eqderivprov|Index}} or in any other way materially modifies that {{eqderivprov|Index}} (other than a modification prescribed in that formula or method to maintain that {{eqderivprov|Index}} in the event of changes in constituent stock and capitalization and other routine events) (an "'''{{eqderivprov|Index Modification}}'''") or permanently cancels the {{eqderivprov|Index}} and no {{eqderivprov|Successor Index}} exists (an "'''{{eqderivprov|Index Cancellation}}'''") or (ii) on any {{eqderivprov|Valuation Date}} in respect of an {{eqderivprov|Index Transaction}} or {{eqderivprov|Index Basket Transaction}}, the {{eqderivprov|Index Sponsor}} fails to calculate and announce a relevant {{eqderivprov|Index}} (an "'''{{eqderivprov|Index Disruption}}'''" and together with an {{eqderivprov|Index Modification}} and an {{eqderivprov|Index Cancellation}}, each an "'''{{eqderivprov|Index Adjustment Event}}'''"), then: <br>

Revision as of 10:39, 11 August 2014

11.1(b) If (i) on or prior to any Valuation Date in respect of an Index Transaction or Index Basket Transaction, a relevant Index Sponsor announces that it will make a material change in the formula for or the method of calculating that Index or in any other way materially modifies that Index (other than a modification prescribed in that formula or method to maintain that Index in the event of changes in constituent stock and capitalization and other routine events) (an "Index Modification") or permanently cancels the Index and no Successor Index exists (an "Index Cancellation") or (ii) on any Valuation Date in respect of an Index Transaction or Index Basket Transaction, the Index Sponsor fails to calculate and announce a relevant Index (an "Index Disruption" and together with an Index Modification and an Index Cancellation, each an "Index Adjustment Event"), then:

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