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| Section {{eqderivprov|2.3}}. '''{{eqderivprov|Option Type}}'''. <br>
| | {{eqderivprov|2.3}}. '''{{eqderivprov|Option Type}}'''. <br> |
| :{{eqderivprov|2.3(a)}} '''{{eqderivprov|Call}}'''. “'''{{eqderivprov|Call}}'''” means an {{eqderivprov|Option Transaction}} entitling {{eqderivprov|Buyer}} upon exercise: <br>
| | {{Nutshell Equity Derivatives 2.3(a)}} |
| ::(i) where “'''{{eqderivprov|Cash Settlement}}'''” is applicable, to receive from {{eqderivprov|Seller}} an {{eqderivprov|Option Cash Settlement Amount}} if the {{eqderivprov|Settlement Price}} exceeds the Strike Price; and <br>
| | {{Nutshell Equity Derivatives 2.3(b)}} |
| ::(ii) where “'''{{eqderivprov|Physical Settlement}}'''” is applicable, to purchase {{eqderivprov|Shares}} or {{eqderivprov|Baskets}} of {{eqderivprov|Shares}} from {{eqderivprov|Seller}} at the {{eqderivprov|Settlement Price}} per {{eqderivprov|Share}} or {{eqderivprov|Basket}}, <br>
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| :in each case as more particularly provided in or pursuant to these Definitions and the related {{eqderivprov|Confirmation}}. <br>
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| :(b) '''{{eqderivprov|Put}}'''. “'''{{eqderivprov|Put}}'''” means an {{eqderivprov|Option Transaction}} entitling {{eqderivprov|Buyer}} upon exercise: <br>
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| ::(i) where “'''{{eqderivprov|Cash Settlement}}'''” is applicable, to receive from {{eqderivprov|Seller}} an {{eqderivprov|Option Cash Settlement Amount}} if the {{eqderivprov|Strike Price}} exceeds the {{eqderivprov|Settlement Price}}; and <br>
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| ::(ii) where “'''{{eqderivprov|Physical Settlement}}'''” is applicable, to sell {{eqderivprov|Shares}} or {{eqderivprov|Baskets}} of {{eqderivprov|Shares}} to {{eqderivprov|Seller}} at the {{eqderivprov|Settlement Price}} per {{eqderivprov|Share}} or {{eqderivprov|Basket}}, <br>
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| :in each case as more particularly provided in or pursuant to these Definitions and the related {{eqderivprov|Confirmation}}.<br>
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