Share Substitution definition

Share Substitution means, in relation to a Merger Event and Tender Offer, the replacement of a Share the subject of such Merger Event or Tender Offer (as case may be) with a new share selected by the Calculation Agent (which shall be a share contained in the Reference Index or selected by the Calculation Agent in accordance with any other criteria specified in the applicable Final Terms). Such new share shall be deemed to be a Share in place of the Share the subject of the Merger Event or Tender Offer (as case may be).
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Share Substitution means on or after the relevant Merger Date or the date of the Nationalisation, Insolvency or Delisting or the date of the Insolvency Filing or Hedging Disruption (as the case may be), the Calculation Agent will adjust the Basket to include a share selected by it in good faith in accordance with the criteria for share selection set out below (the “Substitute Shares”) in place of the Shares which are affected by the Merger Event, Nationalisation, Insolvency, Delisting, Insolvency Filing or Hedging Disruption, and the Substitute Shares and their respective issuers will be deemed “Shares” and a “Share Company”, respectively, and the Calculation Agent will adjust any relevant terms and conditions hereunder accordingly, provided that (for the avoidance of doubt) the Initial Reference Spot of each Substitute Share will be determined in accordance with the formula set out as below:Initial Reference Spot = A x (B / C) Where:
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Examples of Share Substitution in a sentence

  • Tender Offer, De-listing, Nationalisation and Insolvency (delete as appropriate) Share Substitution [is applicable/is not applicable].

  • If, however in the case of a Share Basket Security, Share Substitution is specified as applicable in the relevant Issue Specific Terms, the Issuer may, in its absolute discretion, as an alternative to so redeeming the Securities, replace the relevant Share Issuer and its Shares as provided in Product Term 6.

  • The Calculation Agent shall make all adjustments arising from an Adjustment Event in such a way as to ensure that (except in the case of a Share Substitution) the direct economic link between the value of the Shares and the value of the Securities is preserved.

  • If any Adjustment Event occurs, then the Issuer may require that the Calculation Agent shall (i) make such adjustment(s), if any, to the terms of the Securities as the Calculation Agent determines necessary or appropriate to account for the effect of such Adjustment Event (including, but not limited to, a Share Substitution, if specified as being applicable in the applicable Final Terms) and (ii) determine the effective date(s) of the adjustment(s) to the Securities.

  • Share Substitution shall also apply where a Merger Event other than those as set out in (i) and/or (ii) of this Product Condition 4(b) occurs.

  • For further details of the Underlying of the Life Select Income Fund (SGD) and the Life Select Income Fund (USD) and the events that may give rise to a Share Substitution, please refer to the section headed “GENERAL DESCRIPTION OF THE UNDERLYING” and “Investment Terms of the Funded Swap” under the section headed “TERMS OF THE SHARES REPRESENTING INTERESTS IN THE FUND” of the SGD Supplement and the USD Supplement respectively.

  • If the Calculation Agent determines that, as a result of the application of this provision, the number of different Shares in the Basket is reduced, Share Substitution will apply.

  • If any of Hedging Disruption, Nationalisation, Insolvency, Insolvency Filing or De-listing occurs in relation to a Share Company, Share Substitution shall apply.

Related to Share Substitution

  • Share Repurchase means the purchase, repurchase, redemption or other acquisition by Borrower from any Person of any capital stock or other equity interest of Borrower.

  • Substitution or “substitute” shall mean materials, products, equipment, assemblies, or installation methods deviating in at least one characteristic (physical, functional, or aesthetic) from those specified, but which in the opinion of the bidder would improve competition and/or enhance the finished installation. Acceptance of substitution is subject to the approval of the Designer and owner.

  • Substitution Amount The amount, if any, by which the Scheduled Principal Balance of a Deleted Mortgage Loan exceeds the Scheduled Principal Balance of the related Qualifying Substitute Mortgage Loan, or aggregate Scheduled Principal Balance, if applicable, plus unpaid interest thereon, any related unpaid Advances or Servicing Advances or unpaid Servicing Fees and the amount of any costs and damages incurred by the Trust Fund associated with a violation of any applicable federal, state or local predatory or abusive lending law in connection with the origination of such Deleted Mortgage Loan.

  • Substitution Shortfall Amount As defined in Section 2.03(d).

  • 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.

  • Substitution Period shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Share Sale means the sale of (or the grant of a right to acquire or to dispose of) any of the shares in the capital of the Company (in one transaction or as a series of transactions) which will result in the purchaser of those shares (or grantee of that right) and persons Acting in Concert with him together acquiring a Controlling Interest in the Company, except where following completion of the sale the shareholders and the proportion of shares held by each of them are the same as the shareholders and their shareholdings in the Company immediately prior to the sale;[“Significant Transaction” means any transaction or series of transactions involving a transfer or licensing of some or all of the rights in relation to some or all of the assets of the Company, including without limitation licensing agreements and business and asset sale and purchase agreements pursuant to which the net payment(s) to the Company is at least £[insert];] [Note: to include for a Special Dividend][“Special Dividend” has the meaning set out in Article 4.13;] [Note: include if required]

  • Share Purchase has the meaning set out in Section 2.1.

  • Substitution Date has the meaning specified in Paragraph 4(d)(ii).

  • Share Purchase Price shall have the meaning ascribed to such term in Section 2.1(b).

  • Substitute Aircraft Has the meaning specified in the NPA.

  • Holdco Shares means the ordinary shares of HoldCo with a par value of US$0.0001 per share.

  • Substitute Common Stock means the common stock issued by the issuer of the Substitute Option upon exercise of the Substitute Option.

  • Substitute natural gas or "SNG" means a gas manufactured

  • Substitution Notice has the meaning specified in Section 2.17 (Substitution of Lenders).

  • Substitute Check means a paper reproduction of an Item that satisfies the requirements and definition of "substitute check" set forth in Regulation CC.

  • Eligible Substitute Mortgage Loan With respect to a Mortgage Loan substituted by the Transferor for a Deleted Mortgage Loan, a Mortgage Loan which must, on the date of such substitution, (i) have a Principal Balance, (or, in the case of a substitution of more than one mortgage loan for a Deleted Mortgage Loan, an aggregate Principal Balance), not in excess of, and not more than 10% less than the Principal Balance of the Deleted Mortgage Loan; (ii) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iii) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (iv) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (v) comply with each representation and warranty set forth in Section 2.03 hereof; (vi) be the same credit grade category as the Deleted Mortgage Loan; (vii) have the same prepayment penalty term; and (viii) not be a Cooperative Mortgage Loan unless the Deleted Mortgage Loan was a Cooperative Mortgage Loan.

  • Per Share Stock Consideration has the meaning set forth in Section 3.01(a)(i).

  • Stock Consideration has the meaning set forth in Section 2.01(c).

  • Shares means the shares of Common Stock issued or issuable to each Purchaser pursuant to this Agreement.

  • Previously Acquired Shares means shares of Common Stock that are already owned by the Participant or, with respect to any Incentive Award, that are to be issued upon the grant, exercise or vesting of such Incentive Award.

  • Per Share Purchase Price equals $1.00, subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement.

  • Stock Purchase Price has the meaning set forth in Section 2 of the Subscription Agreement.

  • Per Share Merger Consideration has the meaning set forth in Section 3.1(a).

  • Reclassification means the upgrading of a position to a higher classification as a result of the gradual increase of the duties being performed by the incumbent in that position.

  • Optional Repurchase is defined in Section 5.1(b).