Template:Nutshell Equity Derivatives 12.3(a)

12.3(a) “Cancellation and Payment”, then the Transaction in question will be cancelled as of the Tender Offer Date and:

(i) Under an Option Transaction, Seller will pay Buyer the amount calculated under Section 12.7(b), and

(ii) Under a Forward Transaction or a Equity Swap Transaction one party will pay to the other the amount calculated under Section 12.7(c);