Template:2002 ISDA Equity Derivatives Definitions 12.8(a): Difference between revisions
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{{eqderivprov|12.8(a)}} "'''{{eqderivprov|Cancellation Amount}}'''" means, with respect to a {{eqderivprov|Determining Party}}, the amount of the <br>losses or costs of the {{eqderivprov|Determining Party}} that are or would be incurred under then prevailing <br>circumstances (expressed as a positive number) or gains of the {{eqderivprov|Determining Party}} that are or would be <br>realized under then prevailing circumstances (expressed as a negative number) in replacing, or in <br>providing for the {{eqderivprov|Determining Party}} the economic equivalent of, (i) the material terms of the relevant <br>{{eqderivprov|Transaction}}, including the payments and deliveries by the parties under the {{eqderivprov|ISDA Master Agreement}} in <br>respect of the relevant {{eqderivprov|Transaction}} that would, but for the occurrence of the {{eqderivprov|Extraordinary Event}}, have <br>been required on or after the date that the {{eqderivprov|Transaction}} is, or is deemed to have been, terminated or <br>cancelled (assuming satisfaction of any applicable conditions precedent in the {{eqderivprov|ISDA Master Agreement}}) <br>and (ii) the option rights of the parties in respect of the relevant {{eqderivprov|Transaction}}. <br> | :{{eqderivprov|12.8(a)}} "'''{{eqderivprov|Cancellation Amount}}'''" means, with respect to a {{eqderivprov|Determining Party}}, the amount of the <br>losses or costs of the {{eqderivprov|Determining Party}} that are or would be incurred under then prevailing <br>circumstances (expressed as a positive number) or gains of the {{eqderivprov|Determining Party}} that are or would be <br>realized under then prevailing circumstances (expressed as a negative number) in replacing, or in <br>providing for the {{eqderivprov|Determining Party}} the economic equivalent of, (i) the material terms of the relevant <br>{{eqderivprov|Transaction}}, including the payments and deliveries by the parties under the {{eqderivprov|ISDA Master Agreement}} in <br>respect of the relevant {{eqderivprov|Transaction}} that would, but for the occurrence of the {{eqderivprov|Extraordinary Event}}, have <br>been required on or after the date that the {{eqderivprov|Transaction}} is, or is deemed to have been, terminated or <br>cancelled (assuming satisfaction of any applicable conditions precedent in the {{eqderivprov|ISDA Master Agreement}}) <br>and (ii) the option rights of the parties in respect of the relevant {{eqderivprov|Transaction}}. <br> | ||
Revision as of 13:50, 27 June 2013
- 12.8(a) "Cancellation Amount" means, with respect to a Determining Party, the amount of the
losses or costs of the Determining Party that are or would be incurred under then prevailing
circumstances (expressed as a positive number) or gains of the Determining Party that are or would be
realized under then prevailing circumstances (expressed as a negative number) in replacing, or in
providing for the Determining Party the economic equivalent of, (i) the material terms of the relevant
Transaction, including the payments and deliveries by the parties under the ISDA Master Agreement in
respect of the relevant Transaction that would, but for the occurrence of the Extraordinary Event, have
been required on or after the date that the Transaction is, or is deemed to have been, terminated or
cancelled (assuming satisfaction of any applicable conditions precedent in the ISDA Master Agreement)
and (ii) the option rights of the parties in respect of the relevant Transaction.