Change in Law - Equity Derivatives Provision: Difference between revisions
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==Commentary== | ==Commentary== | ||
===Omission of "material increase in costs" limb=== | ===Omission of "material increase in costs" limb=== | ||
Rhe industry has generally moved to omit the "{{eqderivprov|Increased Cost of Hedging}}" aspects of this definition (because it is dealt with there). You may see this expressed as: "Applicable, provided that section {{eqderivprov|12.9(a)(ii)(Y)}} of the Equity Definitions does not apply." See also, for example, the [[2007 European Master Equity Derivatives Confirmation Agreement]], which provides the following: | |||
{{eqderivsnap|Amended Change In Law}} | {{eqderivsnap|Amended Change In Law}} | ||
Revision as of 14:39, 26 January 2015
Commentary
Omission of "material increase in costs" limb
Rhe industry has generally moved to omit the "Increased Cost of Hedging" aspects of this definition (because it is dealt with there). You may see this expressed as: "Applicable, provided that section 12.9(a)(ii)(Y) of the Equity Definitions does not apply." See also, for example, the 2007 European Master Equity Derivatives Confirmation Agreement, which provides the following:
Consequences
The consequences of a Change in Law (or an Insolvency Filing are set out in 12.9(b)(i): Template:Eqderivsnap