Template:Nutshell Equity Derivatives 12.3(d): Difference between revisions

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Created page with "{{eqderivprov|12.3(d)}} If "{{eqderivprov|Modified Calculation Agent Adjustment (Tender Offers)}}" is specified then, after the {{eqderivprov|Tender Offer Date}}, {{eqderivpro..."
 
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{{eqderivprov|12.3(d)}} If "{{eqderivprov|Modified Calculation Agent Adjustment (Tender Offers)}}" is specified then, after the {{eqderivprov|Tender Offer Date}}, {{eqderivprov|Calculation Agent}} will either  
{{eqderivprov|12.3(d)}} If "{{eqderivprov|Modified Calculation Agent Adjustment (Tender Offers)}}" is specified then, after the {{eqderivprov|Tender Offer Date}}, {{eqderivprov|Calculation Agent}} will either (i) adjust the {{eqderivprov|Transaction}} to account for the economic effect of the {{eqderivprov|Tender Offer}} in itys determination, or (ii) if that would not produce a commercially reasonable result, terminate the Transaction, in which case "{{eqderivprov|Cancellation and Payment}}" will under Section {{eqderivprov|12.7}} (and for an {{eqderivprov|Option Transaction}}, "{{eqderivprov|Calculation Agent Determination}}"  will apply).
:(i) adjust the {{eqderivprov|Transaction}} to account for the economic effect of the {{eqderivprov|Tender Offer}} (including by reference to adjustments made by an options exchange to options on the relevant {{eqderivprov|Shares}}) and determine the effective date of that adjustment, or <br>
:(ii) if that would not produce a commercially reasonable result that way, the {{eqderivprov|Calculation Agent}} can terminate the Transaction, in which case "{{eqderivprov|Cancellation and Payment}}" will apply and payments will be made under Section {{eqderivprov|12.7}}, (and for an Option Transaction, "{{eqderivprov|Calculation Agent Determination}}"  will apply).

Revision as of 11:03, 7 August 2015

12.3(d) If "Modified Calculation Agent Adjustment (Tender Offers)" is specified then, after the Tender Offer Date, Calculation Agent will either (i) adjust the Transaction to account for the economic effect of the Tender Offer in itys determination, or (ii) if that would not produce a commercially reasonable result, terminate the Transaction, in which case "Cancellation and Payment" will under Section 12.7 (and for an Option Transaction, "Calculation Agent Determination" will apply).

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