Template:Nutshell Equity Derivatives 7.1

7.1. If “Settlement Method Election” applies then the “Electing Party” (if one is specified, or the Buyer or the Equity Amount Receiver if not) must give irrevocable notice of its election of Cash Settlement or Physical Settlement for the Transaction by the Settlement Method Election Date.

If the Electing Party does not elect a settlement method, it will be the specified “Default Settlement Method” if one is specified, or Cash Settlement (for Index Transactions and Equity Swap Transactions) and Physical Settlement (for Share Forward Transactions and Share Basket Forward Transactions) if not.