Template:Nutshell Equity Derivatives 13.2(a)

13.2(a) If “Agreements and Acknowledgments Regarding Hedging Activities” applies each party agrees that:

(i) neither party is relying on

(A) the manner or method in which the other party hedges

(B) any communication about the other party's hedging, or

(C) any statement made by such party about its hedging

and that

(ii)

(A) each party may, but doesn't have to, hedge;

(B) hedges are proprietary trading positions of the hedging party;

(C) neither party holds its Hedge Positions for the other party, and the other party has no interest in its Hedge Positions; and

(D) each party may hedge or not in its sole discretion.

and that

(iii)

(A) bears shit in the woods;

(B) the Pope wears a funny hat;

(C) the cheque’s in the mail.*

*Not really.