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

  • 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 Notes.

  • 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.

  • 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.

  • A Fund Event means, in respect of a Fund, a Disruption Event, Fund Substitution Event, Fund Adjustment Event or Fund Defeasance 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

  • 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.

  • 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.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Market Disruption Event means either of the following events as determined by the Calculation Agent:

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

  • Capital Disqualification Event has the meaning specified in Section 1.1 of the Indenture.

  • 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: