Initial Market Offer definition

Initial Market Offer means a firm commitment by a Participating Bidder, submitted as part of a Valid Initial Market Submission, to enter as Buyer (i.e., the party that would deliver Deliverable Obligations) into an agreement on terms equivalent to the Representative Auction-Settled Transaction for which the Floating Rate Payer Calculation Amount is the Initial Market Quotation Amount and, subject to Section 11 of these Credit Derivatives Auction Settlement Terms, at the Reference Price stated in the Valid Initial Market Submission.

Initial Market Offer means a firm commitment by a Participating Bidder, submitted as part of a Valid Initia l Market Submission, to enter as Buyer (i.e., the party that would deliver Deliverable Obligations) into an agreement on terms equivalent to the Representative Auction-Settled Transaction for which the Floating Rate Payer Calculation Amount is the Initia l Market Quotation Amount and, subject to Section 11 of these Credit Derivatives Auction Settlement Terms, at the Reference Price stated in the Valid Initia l Market Submission.

Initial Market Offer means a firm commitment by a Participating Bidder, submitted as part of a Valid Initial Market Submission, to enter as Buyer (i.e., the party that would deliver Deliverable Obligations) into an agreement on terms equivalent to the Representative Auction-Settled Transaction for which the Floating Rate Payer Calculation Amount is the Initial Market Quotation Amount and,

Examples of Initial Market Offer in a sentence

• Each Initial Market Bid will then be matched with the corresponding Initial Market Offer (i.e., the highest Initial Market Bid will be matched with the lowest Initial Market Offer, the second highest Initial Market Bid will be matched with the second lowest Initial Market Offer, etc.) (each such matching of an Initial Market Bid with the corresponding Initial Market Offer, a "Matched Market").

• Each Participating Bidder agrees that (1) if the Open Interest is an offer to sell Deliverable Obligations, the Participating Bidder whose Initial Market Bid formed part of such Tradeable Market will pay the Adjustment Amount to the DC Secretary and (2) if the Open Interest is a bid to purchase Deliverable Obligations, the Participating Bidder whose Initial Market Offer formed part of such Tradeable Market will pay the Adjustment Amount to the DC Secretary.

• Each Participating Bidder agrees that (1) if the Open Interest is an offer to sell Deliverable Obligations, the Participating Bidder whose Initial Market Bid formed part of such Tradeable Market will pay the Adjustment Amount to ISDA and (2) if the Open Interest is a bid to purchase Deliverable Obligations, the Participating Bidder whose Initial Market Offer formed part of such Tradeable Market will pay the Adjustment Amount to ISDA.

• Each Initial Market Bid will then be matched with the corresponding Initial Market Offer (i.e., the highest Initia l Market Bid will be matched with the lowest Initial Market Offer, the second highest Initial Market Bid will be matched with the second lowest Initia l Market Offer, etc.) (each such matching of an Initia l Market Bid with the corresponding Initial Market Offer, a "Matche d Market").

• Each Initia l Market Bid will then be matched with the corresponding Initia l Market Offer (i.e., the highest Initia l Market Bid will be matched with the lowest Initial Market Offer, the second highest Initia l Market Bid will be matched with the second lowest Initial Market Offer, etc.) (each such matching of an Initia l Market Bid with the corresponding Initial Market Offer, a "Matche d Market").