Modified Calculation Agent Adjustment (Tender Offers) - Equity Derivatives Provision
Commentary
Not to be confused with Modified Calculation Agent Adjustment (Merger Event) under 12.2(e).
12.3(d) in a Nutshell™ (Equity Derivatives edition)
- 12.3(d) If “Modified Calculation Agent Adjustment (Tender Offers)” is specified then, after the Tender Offer Date, Calculation Agent will either (i) adjust the Transaction to account for the economic effect of the Tender Offer in its determination, or (ii) if that would not produce a commercially reasonable result, terminate the Transaction, in which case “Cancellation and Payment” will under Section 12.7 (and for an Option Transaction, “Calculation Agent Determination” will apply).