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Determining Party - Equity Derivatives Provision: Difference between revisions
Determining Party - Equity Derivatives Provision (view source)
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But we would never allow the client to be either the Calculation Agent or the Determining Party so in the context of a PRT this is a purely academic point. | But we would never allow the client to be either the Calculation Agent or the Determining Party so in the context of a PRT this is a purely academic point. | ||
If {{eqderivprov| | If ''{{eqderivprov|Calculation Agent}} == [[Dealer]]'', and ''[[Dealer]] == {{eqderivprov|Hedging Party}}'', and ''{{eqderivprov|Hedging Party}} == {{eqderivprov|Determining Party}}'', then ''{{eqderivprov|Calculation Agent}} == {{eqderivprov|Determining Party}}''. | ||
The name of the game is to simplify to avoid language like “determination or calculation made by the Calculation Agent or Determining Party, as the case may be” throughout, which helps no one. Except my brethren in the legal profession. | The name of the game is to simplify to avoid language like “determination or calculation made by the Calculation Agent or Determining Party, as the case may be” throughout, which helps no one. Except my brethren in the legal profession. | ||