Template:2002 ISDA Equity Derivatives Definitions 13.2(a): Difference between revisions

{{eqderivprov|13.2(a)}} If “'''{{eqderivprov|Agreements and Acknowledgments Regarding Hedging Activities}}'''" is specified as <br>applicable in the related {{eqderivprov|Confirmation}}, then unless agreed to the contrary expressly and in writing in the <br>related {{eqderivprov|Confirmation}} for a {{eqderivprov|Transaction}} and notwithstanding any communication that each party (and/or <br>its {{eqderivprov|Affiliates}}) may have had with the other party, each party to a {{eqderivprov|Transaction}} agrees and acknowledges <br>that (i) when entering into, or continuing to maintain, such {{eqderivprov|Transaction}}, neither party is relying on (A) <br>the manner or method in which the other party or any of its {{eqderivprov|Affiliates}} may establish, maintain, adjust or <br>unwind its {{eqderivprov|Hedge Positions}}, (B) any communication, whether written or oral, between the parties or any <br>of their respective {{eqderivprov|Affiliates}} with respect to any {{eqderivprov|Hedging Activities}} of the other party or any of its <br>{{eqderivprov|Affiliates}}, or (C) any representation, warranty or statement being made by such party or any of its <br>{{eqderivprov|Affiliates}} as to whether, when, how or in what manner or method such party or any of its {{eqderivprov|Affiliates}} may <br>engage in any {{eqderivprov|Hedging Activities}} and that (ii) (A) each party and its {{eqderivprov|Affiliates}} may, but are not obliged <br>to, hedge any {{eqderivprov|Transaction}} on a dynamic, static or portfolio basis, by holding a corresponding position in <br>the securities or indices referenced by or underlying such {{eqderivprov|Transaction}} or in any other securities or indices <br>or by entering into any {{eqderivprov|Hedge Position}}; (B) any {{eqderivprov|Hedge Position}} established by either party or any of its <br>{{eqderivprov|Affiliates}} is a proprietary trading position and activity of such party or such {{eqderivprov|Affiliate}}; (C) each party or <br>such {{eqderivprov|Affiliate}} is not holding the {{eqderivprov|Hedge Positions}} or engaging in the {{eqderivprov|Hedging Activities}} on behalf or for <br>the account of or as agent or fiduciary for the other party, and the other party will not have any direct <br>economic or other interest in, or beneficial ownership of, the {{eqderivprov|Hedge Positions}} or {{eqderivprov|Hedging Activities}}; and <br>(D) the decision to engage in {{eqderivprov|Hedging Activities}} is in the sole discretion of each party, and each party <br>and its {{eqderivprov|Affiliates}} may commence or, once commenced, suspend or cease the {{eqderivprov|Hedging Activities}} at any <br>time as it may solely determine. <br>