Template:2002 ISDA Equity Derivatives Definitions 2.3
Section 2.3. Option Type.
- (a) Call. “Call” means an Option Transaction entitling Buyer upon exercise:
- (i) where “Cash Settlement” is applicable, to receive from Seller an Option Cash Settlement Amount if the Settlement Price exceeds the Strike Price; and
- (ii) where “Physical Settlement” is applicable, to purchase Shares or Baskets of Shares from Seller at the Settlement Price per Share or Basket,
- (i) where “Cash Settlement” is applicable, to receive from Seller an Option Cash Settlement Amount if the Settlement Price exceeds the Strike Price; and
in each case as more particularly provided in or pursuant to these Definitions and the related Confirmation.
- (b) Put. “Put” means an Option Transaction entitling Buyer upon exercise:
- (i) where “Cash Settlement” is applicable, to receive from Seller an Option Cash Settlement Amount if the Strike Price exceeds the Settlement Price; and
- (ii) where “Physical Settlement” is applicable, to sell Shares or Baskets of Shares to Seller at the Settlement Price per Share or Basket,
- (i) where “Cash Settlement” is applicable, to receive from Seller an Option Cash Settlement Amount if the Strike Price exceeds the Settlement Price; and
in each case as more particularly provided in or pursuant to these Definitions and the related Confirmation.