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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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“'''Cancellation Amount'''” means the gains or losses the Hedging Party would incur under prevailing circumstances in replacing (i) the material terms of the Transaction, including payments and deliveries scheduled for after termination and (ii) any option rights under the Transaction. <br> | “'''Cancellation Amount'''” means the gains or losses the Hedging Party would incur under prevailing circumstances in replacing (i) the material terms of the Transaction, including payments and deliveries scheduled for after termination and (ii) any option rights under the Transaction. <br> | ||
“'''{{commoddefprov|Change in Law}}'''” means that due to any change in any Rule, or any Regulator promulgating or changing its interpretation of any Rule, after the Trade Date | “'''{{commoddefprov|Change in Law}}'''” means that due to any change in any Rule, or any Regulator promulgating or changing its interpretation of any Rule, after the Trade Date the Hedging Party determines [[in good faith]] that it is not permitted by such Rule to hold, acquire or dispose of its Hedge Positions, including where they would exceed any permitted position limits on any exchange or trading facility (it being within the Hedging Party’s sole discretion to determine which of its positions count towards any such limit). | ||
“'''Hedge Position'''” means any position in commodities, exchange-traded commodity derivatives or over-the-counter commodity derivatives entered into in order to hedge the Hedging Party’s obligations under this Transaction. | “'''Hedge Position'''” means any position in commodities, exchange-traded commodity derivatives or over-the-counter commodity derivatives entered into in order to hedge the Hedging Party’s obligations under this Transaction. | ||