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Change in Law - Equity Derivatives Provision: Difference between revisions
Change in Law - Equity Derivatives Provision (view source)
Revision as of 14:43, 12 October 2017
, 12 October 2017→Omission of “Prong Y”: The “material increase in costs” limb
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The industry has generally moved to omit the “{{eqderivprov|Increased Cost of Hedging}}” aspects of this definition (because it is dealt with there). | The industry has generally moved to omit the “{{eqderivprov|Increased Cost of Hedging}}” aspects of this definition (because it is dealt with there). | ||
But, if you were splitting hairs about it, you might say that not all “materially | But, if you were splitting hairs about it, you might say that not all “materially increased” costs a party may incur “in performing its obligations under such Transaction” will necessarily relate to hedging, so a {{gmslaprov|Hedging Party}} (and, when it comes to it, a ''non-{{isdaprov|Hedging Party}}'') should stand its ground on omitting “[[Prong Y]]”. | ||
Those who do not have the stomach for this fight may see this expressed as: "Applicable, provided that Section {{eqderivprov|12.9(a)(ii)(Y)}} of the {{eqderivprov|Equity Definitions}} does not apply." | Those who do not have the stomach for this fight may see this expressed as: "Applicable, provided that Section {{eqderivprov|12.9(a)(ii)(Y)}} of the {{eqderivprov|Equity Definitions}} does not apply." | ||