Examples of Credit Derivatives Auction Settlement Terms in a sentence
Where the Credit Event is a Restructuring, the Calculation Agent shall select (in its sole and absolute discretion) which of the Credit Derivatives Auction Settlement Terms shall apply in a commercially reasonable manner in accordance with the current market practice by reference to the Specified Date.
The determination of a Final Price in accordance with the Credit Derivatives Auction Settlement Terms or, as the case may be, the specified Valuation Method, shall be binding on the Noteholders.
For the avoidance of doubt, the Calculation Agent shall be entitled to determine the Final Price, and shall have the sole and absolute discretion in determining the Final Price, based on either the Credit Derivatives Auction Settlement Terms set out in paragraph (a) above or the specified Valuation Method set out in paragraph (b) above.
Where the Final Price is to be determined in accordance with the relevant Credit Derivatives Auction Settlement Terms, the Calculation Agent shall be entitled to amend any other terms of the Notes to be consistent with the provisions of such Credit Derivatives Auction Settlement Terms in its sole and absolute discretion.
The steps described in Section 7(a) of these Credit Derivatives Auction Settlement Terms are illustrated in the following example (which is not intended to reflect indicative prices for the Deliverable Obligations): Step 1 – Consider only Tradeable Markets.