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Template:2002 ISDA Equity Derivatives Definitions 12.5: Difference between revisions
Template:2002 ISDA Equity Derivatives Definitions 12.5 (view source)
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Section {{eqderivprov|12.5}}. '''{{eqderivprov|Composition of Combined Consideration}}'''. In respect of any {{eqderivprov|Share-for-Combined}} {{eqderivprov|Merger Event}} or {{eqderivprov|Tender Offer}}: <br> | Section {{eqderivprov|12.5}}. '''{{eqderivprov|Composition of Combined Consideration}}'''. In respect of any {{eqderivprov|Share-for-Combined}} {{eqderivprov|Merger Event}} or {{eqderivprov|Tender Offer}}: <br> | ||
:(a) If | :(a) If “{{eqderivprov|Composition of Combined Consideration}}” is specified as applicable in the related {{eqderivprov|Confirmation}}, then: <br> | ||
::(i) to the extent that the composition of the {{eqderivprov|Combined Consideration}} could be determined by a holder of {{eqderivprov|Shares}} equal to the relevant {{eqderivprov|Option Entitlement}} or {{eqderivprov|Number of Shares}}, and a holder could receive {{eqderivprov|New Shares}} as part of the {{eqderivprov|Combined Consideration}}, the {{eqderivprov|Combined Consideration}} shall be deemed to be {{eqderivprov|New Shares}} to the maximum value permitted; and <br> | ::(i) to the extent that the composition of the {{eqderivprov|Combined Consideration}} could be determined by a holder of {{eqderivprov|Shares}} equal to the relevant {{eqderivprov|Option Entitlement}} or {{eqderivprov|Number of Shares}}, and a holder could receive {{eqderivprov|New Shares}} as part of the {{eqderivprov|Combined Consideration}}, the {{eqderivprov|Combined Consideration}} shall be deemed to be {{eqderivprov|New Shares}} to the maximum value permitted; and <br> | ||
::(ii) if a holder could make any other election with respect to the composition of {{eqderivprov|Combined Consideration}} other than {{eqderivprov|New Shares}}, the composition of the {{eqderivprov|Combined Consideration}} shall be determined as follows: (A) the deliveree or payee may determine the composition if notice is given to the deliveror or payor at least two {{eqderivprov|Scheduled Trading Day}}s before the last time when an election of the {{eqderivprov|Combined Consideration}} by such holder could be timely made; and (B) otherwise the deliveror or payor will, in its sole discretion, determine the composition. <br> | ::(ii) if a holder could make any other election with respect to the composition of {{eqderivprov|Combined Consideration}} other than {{eqderivprov|New Shares}}, the composition of the {{eqderivprov|Combined Consideration}} shall be determined as follows: (A) the deliveree or payee may determine the composition if notice is given to the deliveror or payor at least two {{eqderivprov|Scheduled Trading Day}}s before the last time when an election of the {{eqderivprov|Combined Consideration}} by such holder could be timely made; and (B) otherwise the deliveror or payor will, in its sole discretion, determine the composition. <br> | ||
:(b) If | :(b) If “{{eqderivprov|Composition of Combined Consideration}}” is not specified as applicable in the related {{eqderivprov|Confirmation}}, then: <br> | ||
::(i) to the extent that the composition of the {{eqderivprov|Combined Consideration}} could be determined by a holder of {{eqderivprov|Shares}} equal to the relevant {{eqderivprov|Option Entitlement}} or {{eqderivprov|Number of Shares}} and a holder of {{eqderivprov|Shares}} could receive {{eqderivprov|New Shares}} as part of the {{eqderivprov|Combined Consideration}}, the {{eqderivprov|Combined Consideration}} shall be deemed to be {{eqderivprov|New Shares}} to the maximum value permitted; and <br> | ::(i) to the extent that the composition of the {{eqderivprov|Combined Consideration}} could be determined by a holder of {{eqderivprov|Shares}} equal to the relevant {{eqderivprov|Option Entitlement}} or {{eqderivprov|Number of Shares}} and a holder of {{eqderivprov|Shares}} could receive {{eqderivprov|New Shares}} as part of the {{eqderivprov|Combined Consideration}}, the {{eqderivprov|Combined Consideration}} shall be deemed to be {{eqderivprov|New Shares}} to the maximum value permitted; and <br> | ||
::(ii) if a holder could make any other election with respect to the composition of {{eqderivprov|Combined Consideration}} other than {{eqderivprov|New Shares}}, the {{eqderivprov|Calculation Agent}} will, in its sole discretion, determine the composition.<br> | ::(ii) if a holder could make any other election with respect to the composition of {{eqderivprov|Combined Consideration}} other than {{eqderivprov|New Shares}}, the {{eqderivprov|Calculation Agent}} will, in its sole discretion, determine the composition.<br> | ||