Template:Nutshell Equity Derivatives 13.3: Difference between revisions

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Section {{eqderivprov|13.3}}. '''{{eqderivprov|Index Disclaimer}}'''. If “{{eqderivprov|Index Disclaimer}}” is specified as applicable in the related {{eqderivprov|Confirmation}}, then each party to a {{eqderivprov|Transaction}} entered into and subject to these Definitions agrees and acknowledges that such {{eqderivprov|Transaction}} is not sponsored, endorsed, sold, or promoted by the {{eqderivprov|Index}} or the {{eqderivprov|Index Sponsor}} and no {{eqderivprov|Index Sponsor}} makes any representation whatsoever, whether express or implied, either as to the results to be obtained from the use of the {{eqderivprov|Index}} and/or the levels at which the {{eqderivprov|Index}} stands at any particular time on any particular date or otherwise. No {{eqderivprov|Index}} or {{eqderivprov|Index Sponsor}} shall be liable (whether in negligence or otherwise) to any person for any error in the {{eqderivprov|Index}} and the {{eqderivprov|Index Sponsor}} is under no obligation to advise any person of any error therein. No {{eqderivprov|Index Sponsor}} is making any representation whatsoever, whether express or implied, as to the advisability of purchasing or assuming any risk in connection with entering into any {{eqderivprov|Transaction}}. Neither party to any {{eqderivprov|Transaction}} shall have any liability to the other party for any act or failure to act by the {{eqderivprov|Index Sponsor}} in connection with the calculation, adjustment or maintenance of the {{eqderivprov|Index}}. Except as disclosed prior to the {{eqderivprov|Trade Date}}, neither party nor its Affiliates has any affiliation with or control over the {{eqderivprov|Index}} or {{eqderivprov|Index Sponsor}} or any control over the computation, composition or dissemination of the Indices. Although the {{eqderivprov|Calculation Agent}} will obtain information concerning the Indices from publicly available sources it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by either party, its Affiliates or the {{eqderivprov|Calculation Agent}} as to the accuracy, completeness and timeliness of information concerning the Indices. <br>
Section {{eqderivprov|13.3}}. '''{{eqderivprov|Index Disclaimer}}'''. If “{{eqderivprov|Index Disclaimer}}” applies:
:(a) '''{{eqderivprov|Index Sponsor}} not involved''': Each party agrees that the {{eqderivprov|Index Sponsor}} does not endorse the {{eqderivprov|Transaction}}, make any representations about the {{eqderivprov|Index}}, the {{eqderivprov|Transaction}} or their respective performance and will not be liable to anyone for any error in the {{eqderivprov|Index}} nor obliged advise anyone of any such error.  
::(b) '''Parties not liable for {{eqderivprov|Index Sponsor}}''': Neither party is affiliated with the {{eqderivprov|Index Sponsor}} will be liable for any act or omission of the {{eqderivprov|Index Sponsor}} relating to the {{eqderivprov|Index}}, or represents, warrants, undertakes or accepts any responsibility for any aspect of the {{eqderivprov|Index}}. <br>

Revision as of 11:54, 13 May 2022

Section 13.3. Index Disclaimer. If “Index Disclaimer” applies:

(a) Index Sponsor not involved: Each party agrees that the Index Sponsor does not endorse the Transaction, make any representations about the Index, the Transaction or their respective performance and will not be liable to anyone for any error in the Index nor obliged advise anyone of any such error.
(b) Parties not liable for Index Sponsor: Neither party is affiliated with the Index Sponsor will be liable for any act or omission of the Index Sponsor relating to the Index, or represents, warrants, undertakes or accepts any responsibility for any aspect of the Index.
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