Examples of Deliverable Obligation Terms in a sentence
For the avoidance of doubt, if more than one set of Deliverable Obligation Terms are published by ISDA in respect of the Credit Derivatives Auction Settlement Terms relating to the Reference Entity, the relevant Auction for the purposes of determining the Auction Final Price shall be the Auction (if any) in respect of which the Deliverable Obligation Terms require that the relevant obligations be Not Subordinated to obligations which are of the same seniority as the Reference Obligation.
For the avoidance of doubt, if more than one set of Deliverable Obligation Terms are published by the DC Secretary in respect of the Credit Derivatives Auction Settlement Terms relating to the Reference Entity, the relevant Auction for the purposes of determining the Auction Final Price shall be the Auction (if any) in respect of which the Deliverable Obligation Terms require that the relevant obligations be Not Subordinated to obligations which are of the same seniority as the Reference Obligation.
For the avoidance of doubt, if more than one set of Deliverable Obligation Terms are published by ISDA in respect of the Credit Derivatives Auction Settlement Terms relating to the Reference Entity, the relevant Auction for the purposes of determining the Auction Final Price shall be the Auction (if any) in respect of which the Deliverable Obligation Terms require that the relevant obligations be Not Subordinated to obligations which are of thesame seniority as the Reference Obligation.
Permissible Deliverable Obligations has the meaning set forth in the relevant Credit Derivatives Auction Settlement Terms, being either all or the portion of the Deliverable Obligations included on the Final List pursuant to the Deliverable Obligation Terms that are applicable to that Auction.
Deliverable Obligation Terms, in relation to any Reference Entity, has the meaning set forth in the relevant Credit Derivatives Auction Settlement Terms.
Each obligation which a Convened DC resolves falls within a set of Deliverable Obligation Terms for a Credit Derivatives Auction Settlement Terms is then included on a ‘Final List’.
Each time a Convened DC Resolves a set of Deliverable Obligation Terms with respect to a set of Credit Derivatives Auction Settlement Terms, the DC Secretary shall promptly publish such set of Deliverable Obligation Terms on its Website.
Upon the occurrence of such Mod/ModMod R Restructuring, depending on the Scheduled Maturity Date of the Securities, the relevant Auction for the purposes of determining the Auction Final Price will be the CDS Auction where the Deliverable Obligation Terms are substantially identical to the Deliverable Obligation Provisions of the Securities, as determined by the Calculation Agent in its sole discretion.
If the Deliverable Obligation Provisions for all Relevant Transactions with respect to which a Credit Event Resolution has occurred are not equivalent in all material respects, the Convened DC may Resolve to hold separate Auctions and, in such case, shall Resolve the set(s) of Deliverable Obligation Terms that will apply, respectively, for purposes of each such Auction in accordance with Section 3.2(c) (Deliverable Obligation Terms).
In the event that no CDS Auction is held with respect to the set of Deliverable Obligation Terms that pertain to the Securities, the Calculation Agent may exercise the Movement Option (see below).