12.8(a) - Equity Derivatives Provision

Commentary

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12.8(a) in a Nutshell™ _{(eqderiv edition)}

12.8(a): “Cancellation Amount” means the gains or losses the Determining Party would incur under prevailing circumstances in replacing (i) the material terms of the Transaction, including payments and deliveries that would, but for the Extraordinary Event, have been required after termination and (ii) the parties’ option rights under the Transaction.

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