Template:Extraordinary Events capsule: Difference between revisions
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{{eqderivprov|Extraordinary Events}} under Article {{eqderivprov|12}} are of a more existential nature, and will require either termination or adjustment with mutual consent of the parties. These are: | {{eqderivprov|Extraordinary Events}} under Article {{eqderivprov|12}} are of a more existential nature, and will require either termination or adjustment with mutual consent of the parties. These are: | ||
*Significant events relating to the {{eqderivprov|Issuer}} or its {{eqderivprov|Shares}} ({{eqderivprov|Merger Event}}s, {{eqderivprov|Tender Offer}}s, {{eqderivprov|Nationalization, Insolvency and Delisting}} etc); or | *Significant events relating to the {{eqderivprov|Issuer}} or its {{eqderivprov|Shares}} ({{eqderivprov|Merger Event}}s, {{eqderivprov|Tender Offer}}s, {{eqderivprov|Nationalization, Insolvency and Delisting}} etc); or | ||
*{{eqderivprov|Additional Disruption Event}}s under section {{eqderivprov|12.9}} such as {{eqderivprov|Change in Law}}, {{eqderivprov|Hedging Disruption}}, {{eqderivprov|Increased Cost of Hedging}}, {{eqderivprov|Loss of Stock Borrow}} or {{eqderivprov|Increased Cost of Stock Borrow}}, all of which were relate to the {{eqderivprov|Hedging Party}}’s {{eqderivprov|Hedge Position}}s rather than the underlying Issuer . | *{{eqderivprov|Additional Disruption Event}}s under section {{eqderivprov|12.9}} such as {{eqderivprov|Change in Law}}, {{eqderivprov|Hedging Disruption}}, {{eqderivprov|Increased Cost of Hedging}}, {{eqderivprov|Loss of Stock Borrow}} or {{eqderivprov|Increased Cost of Stock Borrow}}, all of which were relate to the {{eqderivprov|Hedging Party}}’s {{eqderivprov|Hedge Position}}s rather than the underlying {{eqderivprov|Issuer}}. <br> | ||
Revision as of 16:37, 6 May 2020
Extraordinary Events under Article 12 are of a more existential nature, and will require either termination or adjustment with mutual consent of the parties. These are:
- Significant events relating to the Issuer or its Shares (Merger Events, Tender Offers, Nationalization, Insolvency and Delisting etc); or
- Additional Disruption Events under section 12.9 such as Change in Law, Hedging Disruption, Increased Cost of Hedging, Loss of Stock Borrow or Increased Cost of Stock Borrow, all of which were relate to the Hedging Party’s Hedge Positions rather than the underlying Issuer.