Amended Change In Law - Equity Derivatives Provision: Difference between revisions

Amended Change In Law - Equity Derivatives Provision (view source)

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-The Standard {{eqderivdefs}} definition of Change in Law is often amended as follows (for example in the [[2007 European Master Equity Derivatives Confirmation Agreement]]:
+#redirect[[Change In Law - Equity Derivatives Provision]]
-====Commentary====
-If the underlying is listed in a closed market, we would not accept the last sentence of {{eqderivprov|Change in Law}} in your email below (i.e. provided that this Section {{eqderivprov|12.9(a)(ii)}} shall not apply if the {{eqderivprov|Calculation Agent}} determines that such party could have taken reasonable steps to avoid such illegality).
-The reason is that in a closed market, it is often difficult to determine whether a party could have taken reasonable steps to avoid the illegality.
-{{eqderivsnap|Amended Change In Law}}
-{{anat|eqderiv}}