Template:2002 ISDA Equity Derivatives Definitions 6.7(c)(iii): Difference between revisions

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::{{eqderivprov|6.7(c)(iii)}} "'''{{eqderivprov|Modified Postponement}}'''”, then: <br>
::{{eqderivprov|6.7(c)(iii)}} “'''{{eqderivprov|Modified Postponement}}'''”, then:  
:::(A) in the case of an {{eqderivprov|Index Transaction}} or a {{eqderivprov|Share Transaction}}, the <br>{{eqderivprov|Averaging Date}} shall be the first succeeding {{eqderivprov|Valid Date}}. If the first succeeding Valid <br>Date has not occurred as of the {{eqderivprov|Valuation Time}} on the eighth {{eqderivprov|Scheduled Trading Day}} <br>immediately following the original date that, but for the occurrence of another Averaging <br>Date or {{eqderivprov|Disrupted Day}}, would have been the final {{eqderivprov|Averaging Date}} in respect of the <br>relevant {{eqderivprov|Scheduled Valuation Date}}, then (1) that eighth {{eqderivprov|Scheduled Trading Day}} shall be <br>deemed the {{eqderivprov|Averaging Date}} (irrespective of whether that eighth {{eqderivprov|Scheduled Trading Day}} <br>is already an {{eqderivprov|Averaging Date}}), and (2) the {{isdaprov|Calculation Agent}} shall determine the relevant <br>level or price for that {{eqderivprov|Averaging Date}} in accordance with Section {{eqderivprov|6.6}}; <br>
:::(A) in the case of an {{eqderivprov|Index Transaction}} or a {{eqderivprov|Share Transaction}}, the {{eqderivprov|Averaging Date}} shall be the first succeeding {{eqderivprov|Valid Date}}. If the first succeeding Valid Date has not occurred as of the {{eqderivprov|Valuation Time}} on the eighth {{eqderivprov|Scheduled Trading Day}} immediately following the original date that, but for the occurrence of another Averaging Date or {{eqderivprov|Disrupted Day}}, would have been the final {{eqderivprov|Averaging Date}} in respect of the relevant {{eqderivprov|Scheduled Valuation Date}}, then (1) that eighth {{eqderivprov|Scheduled Trading Day}} shall be deemed the {{eqderivprov|Averaging Date}} (irrespective of whether that eighth {{eqderivprov|Scheduled Trading Day}} is already an {{eqderivprov|Averaging Date}}), and (2) the {{isdaprov|Calculation Agent}} shall determine the relevant level or price for that {{eqderivprov|Averaging Date}} in accordance with Section {{eqderivprov|6.6}};  
:::(B) in the case of an {{eqderivprov|Index Basket Transaction}} or a Share Basket <br>Transaction, the {{eqderivprov|Averaging Date}} for each {{eqderivprov|Index}} or {{eqderivprov|Share}} not affected by the occurrence <br>of a {{eqderivprov|Disrupted Day}} shall be the date specified in the {{eqderivprov|Confirmation}} as an {{eqderivprov|Averaging Date}} <br>in respect of the relevant {{eqderivprov|Valuation Date}} and the {{eqderivprov|Averaging Date}} for an {{eqderivprov|Index}} or {{eqderivprov|Share}} <br>affected by the occurrence of a {{eqderivprov|Disrupted Day}} shall be the first succeeding {{eqderivprov|Valid Date}} in <br>relation to such {{eqderivprov|Index}} or {{eqderivprov|Share}}. If the first succeeding {{eqderivprov|Valid Date}} in respect of such <br>{{eqderivprov|Index}} or {{eqderivprov|Share}} has not occurred as of the {{eqderivprov|Valuation Time}} on the eighth Scheduled <br>Trading Day immediately following the original date that, but for the occurrence of <br>another {{eqderivprov|Averaging Date}} or {{eqderivprov|Disrupted Day}}, would have been the final {{eqderivprov|Averaging Date}} in <br>relation to the relevant {{eqderivprov|Scheduled Valuation Date}}, then (1) that eighth Scheduled Trading <br>Day shall be deemed to be the {{eqderivprov|Averaging Date}} (irrespective of whether that eighth <br>{{eqderivprov|Scheduled Trading Day}} is already an {{eqderivprov|Averaging Date}}) in respect of such {{eqderivprov|Index}} or {{eqderivprov|Share}}, <br>and (2) the {{isdaprov|Calculation Agent}} shall determine the relevant level, price or amount for that <br>{{eqderivprov|Averaging Date}} in accordance with Section {{eqderivprov|6.6}}; and <br>
:::(B) in the case of an {{eqderivprov|Index Basket Transaction}} or a Share Basket Transaction, the {{eqderivprov|Averaging Date}} for each {{eqderivprov|Index}} or {{eqderivprov|Share}} not affected by the occurrence of a {{eqderivprov|Disrupted Day}} shall be the date specified in the {{eqderivprov|Confirmation}} as an {{eqderivprov|Averaging Date}} in respect of the relevant {{eqderivprov|Valuation Date}} and the {{eqderivprov|Averaging Date}} for an {{eqderivprov|Index}} or {{eqderivprov|Share}} affected by the occurrence of a {{eqderivprov|Disrupted Day}} shall be the first succeeding {{eqderivprov|Valid Date}} in relation to such {{eqderivprov|Index}} or {{eqderivprov|Share}}. If the first succeeding {{eqderivprov|Valid Date}} in respect of such {{eqderivprov|Index}} or {{eqderivprov|Share}} has not occurred as of the {{eqderivprov|Valuation Time}} on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another {{eqderivprov|Averaging Date}} or {{eqderivprov|Disrupted Day}}, would have been the final {{eqderivprov|Averaging Date}} in relation to the relevant {{eqderivprov|Scheduled Valuation Date}}, then (1) that eighth Scheduled Trading Day shall be deemed to be the {{eqderivprov|Averaging Date}} (irrespective of whether that eighth {{eqderivprov|Scheduled Trading Day}} is already an {{eqderivprov|Averaging Date}}) in respect of such {{eqderivprov|Index}} or {{eqderivprov|Share}}, and (2) the {{isdaprov|Calculation Agent}} shall determine the relevant level, price or amount for that {{eqderivprov|Averaging Date}} in accordance with Section {{eqderivprov|6.6}}; and  
:::(C) "'''{{eqderivprov|Valid Date}}'''” shall mean a {{eqderivprov|Scheduled Trading Day}} that is not a Disrupted <br>Day and on which another {{eqderivprov|Averaging Date}} in respect of the relevant {{eqderivprov|Valuation Date}} does <br>not or is not deemed to occur. <br>
:::(C) “'''{{eqderivprov|Valid Date}}'''” shall mean a {{eqderivprov|Scheduled Trading Day}} that is not a Disrupted Day and on which another {{eqderivprov|Averaging Date}} in respect of the relevant {{eqderivprov|Valuation Date}} does not or is not deemed to occur. <br>

Latest revision as of 17:53, 31 August 2017

6.7(c)(iii) “Modified Postponement”, then:
(A) in the case of an Index Transaction or a Share Transaction, the Averaging Date shall be the first succeeding Valid Date. If the first succeeding Valid Date has not occurred as of the Valuation Time on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another Averaging Date or Disrupted Day, would have been the final Averaging Date in respect of the relevant Scheduled Valuation Date, then (1) that eighth Scheduled Trading Day shall be deemed the Averaging Date (irrespective of whether that eighth Scheduled Trading Day is already an Averaging Date), and (2) the Calculation Agent shall determine the relevant level or price for that Averaging Date in accordance with Section 6.6;
(B) in the case of an Index Basket Transaction or a Share Basket Transaction, the Averaging Date for each Index or Share not affected by the occurrence of a Disrupted Day shall be the date specified in the Confirmation as an Averaging Date in respect of the relevant Valuation Date and the Averaging Date for an Index or Share affected by the occurrence of a Disrupted Day shall be the first succeeding Valid Date in relation to such Index or Share. If the first succeeding Valid Date in respect of such Index or Share has not occurred as of the Valuation Time on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another Averaging Date or Disrupted Day, would have been the final Averaging Date in relation to the relevant Scheduled Valuation Date, then (1) that eighth Scheduled Trading Day shall be deemed to be the Averaging Date (irrespective of whether that eighth Scheduled Trading Day is already an Averaging Date) in respect of such Index or Share, and (2) the Calculation Agent shall determine the relevant level, price or amount for that Averaging Date in accordance with Section 6.6; and
(C) “Valid Date” shall mean a Scheduled Trading Day that is not a Disrupted Day and on which another Averaging Date in respect of the relevant Valuation Date does not or is not deemed to occur.
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