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Template:Nutshell Commodity Definitions Change in Law: Difference between revisions
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Template:Nutshell Commodity Definitions Change in Law (view source)
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“'''Hedge Positions'''” means any positions in commodities, exchange-traded commodity derivatives or over-the-counter commodity derivatives entered into in order to hedge the {{commoddefprov|Hedging Party}}’s obligations under this {{commoddefprov|Transaction}}. | “'''Hedge Positions'''” means any positions in commodities, exchange-traded commodity derivatives or over-the-counter commodity derivatives entered into in order to hedge the {{commoddefprov|Hedging Party}}’s obligations under this {{commoddefprov|Transaction}}. | ||
If “'''{{commoddefprov|Change in Law}}'''” applies, | If “'''{{commoddefprov|Change in Law}}'''” applies and a {{commoddefprov|Change in Law}} occurs, the {{commoddefprov|Hedging Party}} may terminate the {{commoddefprov|Transaction}} upon at least two {{commoddefprov|Business Day}}s’ notice to the other party specifying the date of such termination (or such lesser notice as may be required to comply with the {{commoddefprov|Change in Law}}), in which event the {{commoddefprov|Transaction}} will terminate and the {{commoddefprov|Hedging Party}} will determine the {{commoddefprov|Cancellation Amount}} payable by one party to the other. <br> | ||