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*'''Significant events relating to the {{eqderivprov|Issuer}} or its {{eqderivprov|Shares}}''' ({{eqderivprov|Merger Event}}s, {{eqderivprov|Tender Offer}}s, {{eqderivprov|Nationalization, Insolvency and Delisting}} etc); or | *'''Significant events relating to the {{eqderivprov|Issuer}} or its {{eqderivprov|Shares}}''' ({{eqderivprov|Merger Event}}s, {{eqderivprov|Tender Offer}}s, {{eqderivprov|Nationalization, Insolvency and Delisting}} etc); or | ||
*'''{{eqderivprov|Additional Disruption Event}}s''' affecting the market under section {{eqderivprov|12.9}} such as {{eqderivprov|Change in Law}}, {{eqderivprov|Hedging Disruption}}, {{eqderivprov|Increased Cost of Hedging}}, {{eqderivprov|Loss of Stock Borrow}} or {{eqderivprov|Increased Cost of Stock Borrow}}, all of which were relate to the {{eqderivprov|Hedging Party}}’s {{eqderivprov|Hedge Position}}s rather than the underlying {{eqderivprov|Issuer}}. | *'''{{eqderivprov|Additional Disruption Event}}s''' affecting the market under section {{eqderivprov|12.9}} such as {{eqderivprov|Change in Law}}, {{eqderivprov|Hedging Disruption}}, {{eqderivprov|Increased Cost of Hedging}}, {{eqderivprov|Loss of Stock Borrow}} or {{eqderivprov|Increased Cost of Stock Borrow}}, all of which were relate to the {{eqderivprov|Hedging Party}}’s {{eqderivprov|Hedge Position}}s rather than the underlying {{eqderivprov|Issuer}}. | ||
What happens upon Cancellation following Extraordinary Events depends on whether your {{eqderivprov|Transaction}} is an {{eqderivprov|Option Transaction}} — in which case Section {{eqderivprov|12.7(b)}} applies and there is all kinds of fun with {{eqderivprov|Agreed Model}}s or {{eqderivprov|Calculation Agent Determination}} — or a Forward Transaction or Equity Swap Transaction, in which case the shorter Section 12.7(c) will apply, and unless you’ve been unwise enough to agree there should be ''two'' {{eqderivprov|Determining Parties}}, the {{eqderivprov|Hedging Party}} (in its guise as Determining Party) will close out its hedge and present the bill. | What happens upon Cancellation following Extraordinary Events depends on whether your {{eqderivprov|Transaction}} is an {{eqderivprov|Option Transaction}} — in which case Section {{eqderivprov|12.7(b)}} applies and there is all kinds of fun with {{eqderivprov|Agreed Model}}s or {{eqderivprov|Calculation Agent Determination}} — or a Forward Transaction or Equity Swap Transaction, in which case the shorter Section {{eqderivprov|12.7(c)}} will apply, and unless you’ve been unwise enough to agree there should be ''two'' {{eqderivprov|Determining Parties}}, the {{eqderivprov|Hedging Party}} (in its guise as {{eqderivprov|Determining Party}}) will close out its hedge and present the bill. |