|
|
(2 intermediate revisions by the same user not shown) |
Line 6: |
Line 6: |
| {{2002 ISDA Equity Derivatives Definitions 6.8(e)}} | | {{2002 ISDA Equity Derivatives Definitions 6.8(e)}} |
| {{2002 ISDA Equity Derivatives Definitions 6.8(f)}} | | {{2002 ISDA Equity Derivatives Definitions 6.8(f)}} |
|
| |
| (d) Adjustments of the Exchange-traded Contract. Without duplication of Section 11.1
| |
| (which shall govern in the event of any conflict), in the event that the terms of the Exchange-traded
| |
| Contract are changed or modified by the Exchange, the Calculation Agent shall, if necessary, adjust one
| |
| or more of the Strike Price, the Number of Options, the Initial Price, the Forward Price, the Forward
| |
| Floor Price, the Forward Cap Price, the Knock-in Price, the Knock-out Price and/or any other variable
| |
| relevant to the settlement terms of the Transaction to preserve for each party the economic equivalent of
| |
| any payment or payments (assuming satisfaction of each applicable condition precedent) by the parties in
| |
| respect of the Transaction that would have been required after the date of such change.
| |
| (e) Non-Commencement or Discontinuance of the Exchange-traded Contract. If there
| |
| is no Official Settlement Price as a result of the fact that trading in the Exchange-traded Contract never
| |
| commences or is permanently discontinued at any time on or prior to a Valuation Date, the Official
| |
| Settlement Price for that Valuation Date shall be deemed to be the level of the relevant Index at the close
| |
| of the regular trading session on the relevant Exchange on the Valuation Date. If this Section 6.8(e)
| |
| applies, then the Expiration Date, in respect of an Option Transaction, or the relevant Valuation Date, in
| |
| respect of a Forward Transaction or an Equity Swap Transaction, shall mean the date that, but for the
| |
| non-commencement or permanent discontinuance of the Exchange-traded Contract, would have been the
| |
| date of publishing the relevant Official Settlement Price unless such day is a Disrupted Day, in which
| |
| case the provisions of Sections 3.1(f) or 6.6, as applicable, will apply.
| |
| (f) Corrections of the Official Settlement Price. If the Official Settlement Price for any
| |
| Valuation Date is corrected and the correction is published by the relevant exchange within one
| |
| Settlement Cycle for the related Exchange-traded Contract after the original publication, either party may
| |
| notify the other party of that correction and the Calculation Agent will determine the amount that is
| |
| payable as a result of that correction and, to the extent necessary, will adjust the terms of such
| |
| Transaction to account for such correction.
| |