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Template:Nutshell Equity Derivatives 12.1(b): Difference between revisions
Template:Nutshell Equity Derivatives 12.1(b) (view source)
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:{{eqderivprov|12.1(b)}} “'''{{eqderivprov|Merger Event}}'''” relating to {{eqderivprov|Shares}} means: | :{{eqderivprov|12.1(b)}} A “'''{{eqderivprov|Merger Event}}'''” relating to any {{eqderivprov|Shares}} means: | ||
::(i) a mandatory requirement to transfer all of those {{eqderivprov|Shares}} to another entity; | ::(i) a mandatory requirement to transfer all of those {{eqderivprov|Shares}} to another entity; | ||
::(ii) the {{eqderivprov|Issuer}} [[Merger|merges]] with another entity (except | ::(ii) the {{eqderivprov|Issuer}} [[Merger|merges]] with another entity (except where the {{eqderivprov|Issuer}} is the continuing entity and the {{eqderivprov|Shares}} are not changed) | ||
::(iii) | ::(iii) any entity offers to acquire 100% of the outstanding {{eqderivprov|Shares}} and that offer results in an irrevocable commitment to transfer all the {{eqderivprov|Shares}} to the offeror, or | ||
::(iv) the Issuer or its subsidiaries [[Merger|merges]] where the {{eqderivprov|Issuer}} is the continuing entity and the {{eqderivprov|Shares}} are not changed, but the outstanding {{eqderivprov|Shares}} (not controlled by the other entity) immediately before the merger represented less than 50% of the outstanding {{eqderivprov|Shares}} left after the merger (a “'''{{eqderivprov|Reverse Merger}}'''”), | ::(iv) the {{eqderivprov|Issuer}} or its subsidiaries [[Merger|merges]] with another entity where the {{eqderivprov|Issuer}} is the continuing entity and the {{eqderivprov|Shares}} are not changed, but the outstanding {{eqderivprov|Shares}} (not controlled by the other entity) immediately before the [[merger]] represented less than 50% of the outstanding {{eqderivprov|Shares}} left after the [[merger]] (a “'''{{eqderivprov|Reverse Merger}}'''”), | ||
:in each case if the {{eqderivprov|Merger Date}} is on or before, | :in each case if the {{eqderivprov|Merger Date}} is on or before, | ||
::(A) for {{eqderivprov|Physically}}-settled {{eqderivprov|Option Transaction}}s the later of the {{eqderivprov|Expiration Date}} and the final {{eqderivprov|Settlement Date}}, | ::(A) for {{eqderivprov|Physically}}-settled {{eqderivprov|Option Transaction}}s the later of the {{eqderivprov|Expiration Date}} and the final {{eqderivprov|Settlement Date}}, | ||
::(B) for {{eqderivprov|Physically}}-settled {{eqderivprov|Forward Transaction}} or {{eqderivprov|Equity Swap Transaction}}s, the relevant {{eqderivprov|Settlement Date}} or, | ::(B) for {{eqderivprov|Physically}}-settled {{eqderivprov|Forward Transaction}} or {{eqderivprov|Equity Swap Transaction}}s, the relevant {{eqderivprov|Settlement Date}} or, | ||
::(C) in any other case, the final {{eqderivprov|Valuation Date}}. <br> | ::(C) in any other case, the final {{eqderivprov|Valuation Date}}. <br> | ||