Template:Nutshell Equity Derivatives 12.3(d): Difference between revisions

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Template:Nutshell Equity Derivatives 12.3(d) (view source)

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-{{eqderivprov|12.3(d)}} If "{{eqderivprov|Modified Calculation Agent Adjustment (Tender Offers)}}" is specified then, after the {{eqderivprov|Tender Offer Date}}, {{eqderivprov|Calculation Agent}} will either
+:{{eqderivprov|12.3(d)}} If “'''{{eqderivprov|Modified Calculation Agent Adjustment (Tender Offers)}}'''” is specified then, after the {{eqderivprov|Tender Offer Date}}, {{eqderivprov|Calculation Agent}} will either (i) adjust the {{eqderivprov|Transaction}} to account for the economic effect of the {{eqderivprov|Tender Offer}} in its determination, or (ii) if that would not produce a [[commercially reasonable]] result, terminate the Transaction, in which case “{{eqderivprov|Cancellation and Payment}}” will under Section {{eqderivprov|12.7}} (and for an {{eqderivprov|Option Transaction}}, “{{eqderivprov|Calculation Agent Determination}}” will apply). <br>
-:(i) adjust the {{eqderivprov|Transaction}} to account for the economic effect of the {{eqderivprov|Tender Offer}} (including by reference to adjustments made by an options exchange to options on the relevant {{eqderivprov|Shares}}) and determine the effective date of that adjustment, or <br>
-:(ii) if that would not produce a commercially reasonable result that way, the {{eqderivprov|Calculation Agent}} can terminate the Transaction, in which case "{{eqderivprov|Cancellation and Payment}}" will apply and payments will be made under Section {{eqderivprov|12.7}}, (and for an Option Transaction, "{{eqderivprov|Calculation Agent Determination}}"  will apply).