Template:Nutshell Equity Derivatives 7.1

Section 7.1. If “Settlement Method Election” applies then the “Electing Party” being the party entitled to make the election (or, if not specified, Buyer or the Equity Amount Receiver) must give irrevocable notice of its election of Cash Settlement or Physical Settlement for the Transaction by the Settlement Method Election Date to be confirmed in writing within one Scheduled Trading Day. If the Electing Party does not elect a settlement method, it will be specified “Default Settlement Method” if one is specified, of Cash Settlement for Index Transactions and Equity Swap Transactions and Physical Settlement for Share Forward Transaction and Share Basket Forward Transactions if not.