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| Section {{eqderivprov|1.44}}. '''{{eqderivprov|Knock-in Event}}'''. <br>
| | {{eqderivprov|1.44}}. '''{{eqderivprov|Knock-in Event}}'''. <br> |
| :(a) If “'''{{eqderivprov|Knock-in Event}}'''” is specified as applicable to a {{eqderivprov|Transaction}}, then unless otherwise specified in the related {{eqderivprov|Confirmation}}, a party’s right to exercise an {{eqderivprov|Option}} under an {{eqderivprov|Option Transaction}} and its right to receive, or its obligation to make, a payment or delivery under an {{eqderivprov|Option Transaction}} (once exercised or deemed exercised), a {{eqderivprov|Forward Transaction}} or {{eqderivprov|Equity Swap Transaction}} where such right or obligation is subject to a Knock-in Event shall be conditional upon the occurrence of the Knock- in Event on any {{eqderivprov|Knock-in Determination Day}} as of the time of such exercise, deemed exercise, payment or delivery, and the parties shall have any other rights and obligations set forth in the related {{eqderivprov|Confirmation}} from and after the occurrence of the Knock-in Event. | | :(a) If “'''{{eqderivprov|Knock-in Event}}'''” applies, a party’s right to exercise an {{eqderivprov|Option}} under an {{eqderivprov|Transaction}} such {{eqderivprov|Option}} will be conditional upon the {{eqderivprov|Knock-in Event}} occurring on any {{eqderivprov|Knock-in 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-in Event}} as specified in the {{eqderivprov|Confirmation}}. |
| :(b) “'''{{eqderivprov|Knock-in Event}}'''” means the event or occurrence specified as such in the related {{eqderivprov|Confirmation}}. In the event that the related {{eqderivprov|Confirmation}} does not specify such an event or occurrence but specifies a {{eqderivprov|Knock-in Reference Security}} and/or a {{eqderivprov|Knock-in Price}}, a Knock-in Event shall occur for a {{eqderivprov|Transaction}} for which such {{eqderivprov|Knock-in Reference Security}} is also the {{eqderivprov|Index}}, Share or {{eqderivprov|Basket}} specified in the related {{eqderivprov|Confirmation}}: (i) where, on the {{eqderivprov|Trade Date}}, the {{eqderivprov|Knock-in Price}} is greater than the {{eqderivprov|Initial Price}}, {{eqderivprov|Strike Price}}, {{eqderivprov|Forward Price}} or other initial level set for the {{eqderivprov|Transaction}}, when the level, price or amount of the {{eqderivprov|Knock-in Reference Security}} determined as of the {{eqderivprov|Knock-in Valuation Time}} on any {{eqderivprov|Knock-in Determination Day}} is greater than or equal to the {{eqderivprov|Knock-in Price}}; and (ii) where, on the {{eqderivprov|Trade Date}}, the {{eqderivprov|Knock-in Price}} is less than the {{eqderivprov|Initial Price}}, {{eqderivprov|Strike Price}}, {{eqderivprov|Forward Price}} or other initial level set for the {{eqderivprov|Transaction}}, when the level, price or amount of the {{eqderivprov|Knock-in Reference Security}} determined as of the {{eqderivprov|Knock-in Valuation Time}} on any {{eqderivprov|Knock-in Determination Day}} is less than or equal to the {{eqderivprov|Knock-in Price}}. In the event of a dispute between the parties as to whether a Knock-in Event has occurred, the {{eqderivprov|Calculation Agent}} shall determine whether a Knock-in Event has occurred. <br> | | :(b) “'''{{eqderivprov|Knock-in Event}}'''” must be specified in the {{eqderivprov|Confirmation}}. If it is not, but the {{eqderivprov|Confirmation}} specifies a {{eqderivprov|Knock-in Reference Security}} or a {{eqderivprov|Knock-in Price}}, the {{eqderivprov|Knock-in Event}} will occur where the specified {{eqderivprov|Knock-in Reference Security}} is also the specified {{eqderivprov|Index}}, {{eqderivprov|Share}} or {{eqderivprov|Basket}} where, on the {{eqderivprov|Trade Date}}: |
| | ::(i) The {{eqderivprov|Knock-in Price}} is greater than the initial level set for the {{eqderivprov|Transaction}} (however described), when the level of the {{eqderivprov|Knock-in Reference Security}}, as of the {{eqderivprov|Knock-in Valuation Time}} on any {{eqderivprov|Knock-in Determination Day}} is at least equal to the {{eqderivprov|Knock-in Price}}; and |
| | ::(ii) The {{eqderivprov|Knock-in Price}} is less than the initial level set for the {{eqderivprov|Transaction}} (however described), when the level of the {{eqderivprov|Knock-in Reference Security}} as of the {{eqderivprov|Knock-in Valuation Time}} on any {{eqderivprov|Knock-in Determination Day}} is at most equal to the {{eqderivprov|Knock-in Price}}. |
| | If the parties cannot agree whether a {{eqderivprov|Knock-in Event}} has occurred, the {{eqderivprov|Calculation Agent}} will decide. <br> |