Fund Substitution Event definition

Fund Substitution Event means, in respect of a Reference Fund that is an exchange-traded fund, any Nationalization, Insolvency, Delisting or Index Event in respect of such Reference Fund, or any Merger Event or Tender Offer in respect of such Reference Fund that is deemed by the Calculation Agent to be a Fund Substitution Event, or the occurrence and continuation for at least five consecutive applicable Business Days of a Market Disruption Event in respect of Reference Units of such Reference Fund.
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Fund Substitution Event means, in respect of a Reference Fund that is an exchange-traded fund, any Nationalization, Insolvency, Delisting or Index Event in respect of such Reference Fund, or any Merger Event or Tender Offer in respect of such Reference Fund that is deemed by the Calculation Agent to be a Fund Substitution Event, or the occurrence and continuation for at least five consecutive applicable business days of a Market Disruption Event in respect of Reference Units of such Reference Fund. The terms “Nationalization”, “Insolvency” and “Delisting” have the meaning ascribed thereto above under “– Extraordinary Events affecting Equity Linked Note Securities”, with the relevant adjustments to reflect their application to Reference Units and Reference Funds instead of Reference Shares and issuers thereof. “Index Event” means, in respect of a Reference Unit, (i) the sponsor for the index that is replicated by the Reference Fund (the “ETF Reference Index”) announces that it will make a material change in the formula for or the method of calculating the ETF Reference Index or in any other way materially modifies the ETF Reference Index (other than a modification prescribed in that formula or method to maintain the ETF Reference Index in the event of changes to the constituents and other routine events) or permanently cancels the ETF Reference Index and no successor index exists, or (ii) the sponsor for the ETF Reference Index fails to determine and announce the official closing level or value of the ETF Reference Index, and, in either case, the Calculation Agent determines that such event has a material effect on the calculation of the Maturity Consideration or any other payment under the particular Note Securities linked to the Reference Units of the Reference Fund.
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Examples of Fund Substitution Event in a sentence

  • The Issuer and the Calculation Agent shall not be liable to any party or person for losses resulting from violations of the Inclusion Conditions or failure to determine a Fund Substitution Event or other event under the Notes.

  • If the Issuer determines that a Fund Substitution Event has occurred in respect of a Fund Unit and the related Fund, it may (aa) waive such event, (bb) substitute such Fund with one or more funds which comply with the Inclusion Conditions, (cc) adjust the weight of any one or more Fund Units, and (dd) make adjustments to the terms and conditions of the Securities to account for such event.

  • The Issuer and the Calculation Agent shall not be liable to any party or person for losses resulting from violations of the Inclusion Conditions or failure to determine a Fund Substitution Event or other event under the Securities.

  • If the Calculation Agent determines that a Fund Substitution Event has occurred in respect of a Fund Unit and the related Fund, it may (1) waive such event, (2) substitute such Fund with one or more funds which comply with the Inclusion Conditions, (3) adjust the weight of any one or more Fund Units, and(4) make adjustments to the terms and conditions of the Notes to account for such event.

  • Can there be any change to the fund referenced by the Fund Swap Transaction?The Fund may be substituted for purposes of the Fund Swap Transaction if a Fund Substitution Event occurs.

  • If the Issuer determines that a Fund Substitution Event has occurred in respect of a Fund Unit and the related Fund, it may (I) waive such event, (II) substitute such Fund with one or more funds which comply with the Inclusion Conditions, (III) adjust the weight of any one or more Fund Units, and (IV) make adjustments to the terms and conditions of the Securities to account for such event.


More Definitions of Fund Substitution Event

Fund Substitution Event means, in respect of any of the Funds, the occurrence of any of the following events, in each case as determined by the Determination Agent:
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Fund Substitution Event means, in respect of a Reference Fund that is an exchange-traded fund, any Nationalization, Insolvency, Delisting or Index Event in respect of such Reference Fund, or any Merger Event or Tender Offer in respect of such Reference Fund that is deemed by the Calculation Agent to be a Fund Substitution Event, or the occurrence and continuation for at least eight consecutive applicable business days of a Market Disruption Event in respect of Reference Units of such Reference Fund. The terms “Nationalization”, “Insolvency” and “Delisting” have the meaning ascribed thereto above under “Extraordinary Events affecting Equity Linked Notes”, with the relevant adjustments to reflect their application to Reference Units and Reference Funds instead of Reference Shares and issuers thereof.
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Fund Substitution Event means, in respect of a Reference Fund, the occurrence of any of the following events as determined by the Calculation Agent and where the Calculation Agent determines that such event has a material effect on the calculation of any payment due under the Notes,
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Fund Substitution Event means, any Insolvency, Delisting or Index Event in respect of such Reference Fund or, or any Merger Event, or the occurrence and continuation for at least five consecutive applicable Business Days of a market disruption event in respect of the Reference Units.
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Fund Substitution Event means, in respect of the Reference Asset or the units of the Reference Asset, the occurrence of any of the following events as determined by the Calculation Agent and the Calculation Agent determines that such event has a material effect on the calculation of the Portfolio Return or any payment due under the Notes:
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Related to Fund Substitution Event

  • Substitution Event means, in respect of a Share, any Nationalization, Insolvency or Delisting in respect of such Share, or any Merger Event or Tender Offer in respect of such Share that is deemed by the Calculation Agent to be a Substitution Event, or an occurrence and continuation for at least eight consecutive applicable Exchange Business Days of a Market Disruption Event in respect of such Share.

  • Fund Disruption Event means any of the following events, as determined by the Determination Agent in its reasonable discretion:

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Dissolution Event means (i) a voluntary termination of operations, (ii) a general assignment for the benefit of the Company’s creditors or (iii) any other liquidation, dissolution or winding up of the Company (excluding a Liquidity Event), whether voluntary or involuntary.

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(iii) of this Agreement.

  • Settlement Disruption Event means each of the following events, as determined by the Calculation Agent in its sole discretion acting in good faith and in a commercially reasonable manner:

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Market Disruption Event means, for the purposes of determining amounts due upon conversion (a) a failure by the primary U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading to open for trading during its regular trading session or (b) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Common Stock or in any options contracts or futures contracts relating to the Common Stock.

  • Severe Disruption Event means any event specified as such in the Final Terms.

  • Notification Event means (a) the occurrence of a “reportable event” described in Section 4043 of ERISA for which the 30-day notice requirement has not been waived by applicable regulations issued by the PBGC, (b) the withdrawal of any Loan Party or ERISA Affiliate from a Pension Plan during a plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of ERISA, (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment as a termination, under Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan liabilities, (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan by the PBGC or any Pension Plan or Multiemployer Plan administrator, (e) any other event or condition that would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan, (f) the imposition of a Lien pursuant to the IRC or ERISA in connection with any Employee Benefit Plan or the existence of any facts or circumstances that could reasonably be expected to result in the imposition of a Lien, (g) the partial or complete withdrawal of any Loan Party or ERISA Affiliate from a Multiemployer Plan (other than any withdrawal that would not constitute an Event of Default under Section 8.12), (h) any event or condition that results in the reorganization or insolvency of a Multiemployer Plan under Sections of ERISA, (i) any event or condition that results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by the PBGC of proceedings to terminate or to appoint a trustee to administer a Multiemployer Plan under ERISA, (j) any Pension Plan being in “at risk status” within the meaning of IRC Section 430(i), (k) any Multiemployer Plan being in “endangered status” or “critical status” within the meaning of IRC Section 432(b) or the determination that any Multiemployer Plan is or is expected to be insolvent or in reorganization within the meaning of Title IV of ERISA, (l) with respect to any Pension Plan, any Loan Party or ERISA Affiliate incurring a substantial cessation of operations within the meaning of ERISA Section 4062(e), (m) an “accumulated funding deficiency” within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) or the failure of any Pension Plan or Multiemployer Plan to meet the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA), in each case, whether or not waived, (n) the filing of an application for a waiver of the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) with respect to any Pension Plan or Multiemployer Plan, (o) the failure to make by its due date a required payment or contribution with respect to any Pension Plan or Multiemployer Plan, (p) any event that results in or could reasonably be expected to result in a liability by a Loan Party pursuant to Title I of ERISA or the excise tax provisions of the IRC relating to Employee Benefit Plans or any event that results in or could reasonably be expected to result in a liability to any Loan Party or ERISA Affiliate pursuant to Title IV of ERISA or Section 401(a)(29) of the IRC, or (q) any of the foregoing is reasonably likely to occur in the following 30 days.

  • Disposition Event means any merger, consolidation or other business combination of the Corporation, whether effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class A Common Stock receive the same consideration per share paid in the tender offer), unless, following such transaction, all or substantially all of the holders of the voting power of all outstanding classes of Common Stock and series of Preferred Stock that are generally entitled to vote in the election of Directors prior to such transaction or series of transactions, continue to hold a majority of the voting power of the surviving entity (or its parent) resulting from such transaction or series of transactions in substantially the same proportions as immediately prior to such transaction or series of transactions.

  • Rejection Event means, in respect of the Benchmark, the relevant competent authority or other relevant official body rejects or refuses or will reject or refuse any application for authorisation, registration, recognition, endorsement, equivalence, approval or inclusion in any official register which, in each case, is required in relation to the Securities, the Benchmark or the administrator or sponsor of the Benchmark under any applicable law or regulation for the Issuer or any other entity to perform its obligations in respect of the Securities.

  • Index Adjustment Event means, in respect of the Index, an Administrator/Benchmark Event, an Index Cancellation, an Index Disruption or an Index Modification.

  • SOFR Index Cessation Event means the occurrence of one or more of the following events:

  • Disruption Event means either or both of:

  • Book-Up Event means an event that triggers a positive adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).