Template:Nutshell Equity Derivatives 9.4

Section 9.4. Settlement Date. "Settlement Date" means:

(a) for Option Transactions, the first Clearance System Business Day occurring one Settlement Cycle following the Exercise Date; and

(b) for Forward Transactions and Equity Swap Transactions, the date specified (or if not specified, one Settlement Cycle following the Valuation Date (adjusted if not a Clearance System Business Day) unless there is a Settlement Disruption Event on the relevant date.

If there is Settlement Disruption Event on that date, the Settlement Date will be the first Clearance System Business Day on which the Settlement Disruption Event has lifted unless it doesn’t lift for 8 successive Clearance System Business Days, in which case:

(x) if the Shares can be delivered some other way, the Settlement Date will be the date on which such a sale executed on that eighth Clearance System Business Day would settle and

(y) if not, the Settlement Date will be postponed until delivery can be effected.

If a Settlement Disruption Event affects some but not all of the Shares in a Share Basket Transaction, the Settlement Date for unaffected Shares will be the original Settlement Date and for affected Shares will be determined as provided above.