Template:2014 ISDA Credit Derivatives Definitions 1: Difference between revisions

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Template:2014 ISDA Credit Derivatives Definitions 1 (view source)

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'''Section {{cddprov|1.41}} Exercise Cut'''-off Date. “'''{{cddprov|Exercise Cut-off Date}}'''” means either:<br>
 
:(a) with respect to an {{cddprov|M(M)R Restructuring}}} and a {{cddprov|Credit Derivative Transaction}} to which Section {{cddprov|1.16}}(a) (Event Determination Date) applies:<br>
::(i) if the {{cddprov|DC Secretary}} publishes a {{cddprov|Final List}} applicable to the {{cddprov|Transaction Auction Settlement Terms}} and/or {{cddprov|Parallel Auction Settlement Terms}}, the date that is (A) two {{cddprov|Relevant City Business Day}}s, if the {{cddprov|Credit Event Notice}} is delivered by {{cddprov|Seller}}, or (B) five {{cddprov|Relevant City Business Day}}s, if the {{cddprov|Credit Event Notice}} is delivered by Buyer, in each case following the date on which such {{cddprov|Final List}} is published; provided that if {{cddprov|Seller}} delivers a {{cddprov|Credit Event Notice}} on or prior to the {{cddprov|Exercise Cut-off Date}} applicable to {{cddprov|Seller}} and {{cddprov|Buyer}} delivers a {{cddprov|Credit Event Notice}} on or prior to the {{cddprov|Exercise Cut-off Date}} applicable to Buyer, the {{cddprov|Credit Event Notice}} delivered by {{cddprov|Seller}} on or prior to the {{cddprov|Exercise Cut-off Date}} applicable to {{cddprov|Seller}} shall prevail; or<br>
::(ii) otherwise, the date that is fourteen calendar days following the relevant {{cddprov|No Auction Announcement Date}}; or<br>
:(b) with respect to a {{cddprov|Credit Event}} and a {{cddprov|Credit Derivative Transaction}} to which Section {{cddprov|1.16}}(a) (Event Determination Date) does not apply, the {{cddprov|Non-Standard Exercise Cut-off Date}}determined in accordance with Section {{cddprov|14.2}} ({{cddprov|Non-Standard Exercise Cut-off Date}});<br>
or, in each case, such other date as the relevant {{cddprov|Credit Derivatives Determinations Committee}} Resolves.<br>
'''Section {{cddprov|1.42}} {{cddprov|Relevant City Business Day}}'''. “'''{{cddprov|Relevant City Business Day}}'''” has the meaning given to that term in the {{cddprov|DC Rules}}.<br>
'''Section {{cddprov|1.42}} {{cddprov|Relevant City Business Day}}'''. “'''{{cddprov|Relevant City Business Day}}'''” has the meaning given to that term in the {{cddprov|DC Rules}}.<br>
'''Section {{cddprov|1.43}} {{cddprov|Calculation Agent}} City'''. “'''{{cddprov|Calculation Agent City}}'''” means the city specified as such in the related {{cddprov|Confirmation}} or, if a city is not so specified, the city in which the office through which the {{cddprov|Calculation Agent}} is acting for purposes of the {{cddprov|Credit Derivative Transaction}} is located.<br>
'''Section {{cddprov|1.43}} {{cddprov|Calculation Agent}} City'''. “'''{{cddprov|Calculation Agent City}}'''” means the city specified as such in the related {{cddprov|Confirmation}} or, if a city is not so specified, the city in which the office through which the {{cddprov|Calculation Agent}} is acting for purposes of the {{cddprov|Credit Derivative Transaction}} is located.<br>
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