Template:Nutshell Equity Derivatives 3.2: Difference between revisions

{{eqderivprov|3.2}}. '''{{eqderivprov|Procedure for Exercise}}'''. Unless {{eqderivprov|Automatic Exercise}} applies, {{eqderivprov|Buyer}} must give irrevocable notice during the {{eqderivprov|Exercise Period}} to {{eqderivprov|Seller}} to exercise an {{eqderivprov|Option}}. For {{eqderivprov|American Option}}s, a notice given after the {{eqderivprov|Latest Exercise Time}} on a {{eqderivprov|Scheduled Trading Day}} will be effective on the following {{eqderivprov|Scheduled Trading Day}} in the {{eqderivprov|Exercise Period}} (if there is one). Where {{eqderivprov|Multiple Exercise}} applies, {{eqderivprov|Buyer}} must specify how many {{eqderivprov|Options}} it is exercising on each {{eqderivprov|Exercise Date}}. {{eqderivprov|Buyer}} will execute and deliver to {{eqderivprov|Seller}} a written confirmation confirming any oral exercise within one {{eqderivprov|Scheduled Trading Day}} however, failure by to provide such confirmation will not affect the validity of an oral notice. <br>