Determining Party - Equity Derivatives Provision: Difference between revisions

Determining Party - Equity Derivatives Provision (view source)

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 {{eqderivsnap|12.8(f)}}
-Relevant only for the purposes of {{eqderivprov|12.8}} ({{eqderivprov|Cancellation Amount}}), which will come into play where {{eqderivprov|Cancellation and Payment}} or {{eqderivprov|Partial Cancellation and Payment}} are specified as the determination methods for certain {{eqderivprov|Extraordinary Events}} or {{eqderivprov|Adjustment Events}}.
+Relevant only for the purposes of {{eqderivprov|12.8}} ({{eqderivprov|Cancellation Amount}}), which will come into play where {{eqderivprov|Cancellation and Payment}} or {{eqderivprov|Partial Cancellation and Payment}} are specified as the determination methods. This will generally happen in only two circumstances:
+* termination of a transaction following an {{eqderivprov|Extraordinary Event}}
+* termination of a transaciton following an {{eqderivprov|Additional Disruption Event}}.
-In this single circumstance a party who is not otherwise the {{eqderivprov|Calculation Agent}} may wish to be in control of this determination (or at least have a say in it) which is why this provision is not necessarily handled by the {{eqderivprov|Calculation Agent}} (the swap dealer who is hedging the trade will usually be sole {{eqderivprov|Calculation Agent}}).
+Here a party who is not otherwise the {{eqderivprov|Calculation Agent}} may wish to be in control of this determination (or at least have a say in it) which is why this provision is not necessarily handled by the {{eqderivprov|Calculation Agent}} (the swap dealer who is hedging the trade will usually be sole {{eqderivprov|Calculation Agent}}).
 {{eqderivanatomy}}