Talk:Increased Cost of Hedging - Equity Derivatives Provision: Difference between revisions

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Standard
Standard


12.9(a)(vi) “Increased Cost of Hedging” means that the Hedging Party would incur a materially increased (as compared with circumstances existing on the Trade Date) amount of tax, duty, expense or fee (other than brokerage commissions) to (A) acquire, establish, re-establish, substitute, maintain, unwind or dispose of any transaction(s) or asset(s) it deems necessary to hedge the equity price risk of entering into and performing its obligations with respect to the relevant Transaction, or (B) realize, recover or remit the proceeds of any such transaction(s) or asset(s), provided that any such materially increased amount that is incurred solely due to the deterioration of the creditworthiness of the Hedging Party shall not be deemed an Increased Cost of Hedging;
12.9(a)(vi) “Increased Cost of Hedging means that the Hedging Party would incur a materially increased (as compared to the circumstances existing on Trade Date) amount of tax, duty, expense or fee (other than brokerage commissions) to (A) acquire, establish, re-establish, substitute, maintain, unwind, finance or dispose of any Hedge Positions, or (B) realize, recover, convert in the Settlement Currency, or remit the proceeds of any such transaction(s) or collateral posted with respect to any Hedge Positions.”

Latest revision as of 16:54, 19 December 2019

Standard

12.9(a)(vi) “Increased Cost of Hedging means that the Hedging Party would incur a materially increased (as compared to the circumstances existing on Trade Date) amount of tax, duty, expense or fee (other than brokerage commissions) to (A) acquire, establish, re-establish, substitute, maintain, unwind, finance or dispose of any Hedge Positions, or (B) realize, recover, convert in the Settlement Currency, or remit the proceeds of any such transaction(s) or collateral posted with respect to any Hedge Positions.”

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