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 Event means, in respect of a Reference Asset, any Nationalization, Insolvency or Delisting in respect of such Reference Asset, or any Merger Event or Tender Offer in respect of such Reference Asset 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 Reference Asset. Extraordinary Non-Replacement Event If the Calculation Agent determines that a Substitution Event in respect of a Reference Asset has occurred and the Calculation Agent, in its sole discretion, has decided not to choose a Replacement Reference Asset as a substitute for such Reference Asset whether because the Calculation Agent has determined that there are no appropriate replacement shares or equity securities which offer sufficient comparable attributes including, but not limited to, industry, size, markets and financial position of the issuer and currency, liquidity, dividend yield, volatility of such securities and ability for the Federation or its affiliates to place, maintain or modify hedges in respect of such securities or for any other reason (an “Extraordinary Non Replacement Event”), then the Calculation Agent may, in its sole discretion, (i) decide to continue the Reference Portfolio without such Excluded Reference Asset and make the necessary adjustments such that thereafter, the Reference Portfolio Return will be calculated on the basis of the remaining Reference Assets, where the weighting of the Deleted Reference Asset will be reallocated proportionally to the remaining Reference Assets and make the necessary adjustments so that the return generated on such Deleted Reference Asset up to the event leading to such Extraordinary Non Replacement Event is taken into account as at such date or (ii) otherwise decide to treat the Extraordinary Non Replacement Event as an Extraordinary Event, see “Extraordinary Event” below. Market Disruption Event If the Calculation Agent determines that a Market Disruption Event (as defined below) in respect of a Reference Asset in the Reference Portfolio has occurred or is continuing on any day that, but for that event, would be a Valuation Date then the Closing Price of such Reference Asset will be determined on the basis that such Valuation Date will be postponed to the next Exchange Business Day on which there is no Market Disruption Event in effect for such Reference Asset. However, if on the e...
Examples of Substitution Event in a sentence
In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, BOCIC shall have the right, but not the obligation, to purchase from the Issuer any Collateral Obligation subject to the Purchase and Substitution Limit at a cash purchase price at least equal to the Fair Market Value of such Collateral Obligation (or applicable portion thereof) as of the date of such purchase, which the Trustee shall deposit into the Collection Account upon receipt.
More Definitions of Substitution Event
Substitution Event. An event which shall have occurred with respect to any:
Substitution Event means any of the following events with respect to any Fund and any Fund Shares:
Substitution Event means, with respect to any transfer of a related Substitute Contract to the Trust under Section 2.04, the occurrence of any of the following: (a) one or more Contracts identified in the related Substitution Notice as being an intended Replaced Contract with respect to such Substitute Contract, has become a Defaulted Contract, (b) one or more Contracts identified in the related Substitution Notice as being an intended Replaced Contract with respect to such Substitute Contract, has been subjected to a Material Modification, (c) one or more Contracts identified in the related Substitution Notice as being an intended Replaced Contract with respect to such Substitute Contract, has become an Ineligible Contract, or (d) one or more Contracts identified in the related Substitution Notice as being an intended Replaced Contract with respect to such Substitute Contract, has become a Prepaid Contract and the Trust has not yet received the related Prepayment.
Substitution Event means a Change in Control pursuant to which the Common Shares are converted into, or exchanged for, other property, whether in the form of securities of another Person, cash or otherwise.
Substitution Event means, in respect of a Reference Share, any Nationalization, Insolvency or Delisting in respect of such Reference Share, or any Merger Event or Tender Offer in respect of such Reference Share that is deemed by the Calculation Agent to be a Substitution Event, or the occurrence and continuation for at least five consecutive applicable Business Days of a Market Disruption Event (as defined below) in respect of such Reference Share.
Substitution Event means (i) a Change of Control, or (ii) a merger, amalgamation, arrangement, business combination or other transaction pursuant to which the Shares of the Company are converted into, or exchanged for, other property, whether in the form of securities of another entity, cash or otherwise;
Substitution Event shall have the meaning provided in Section 2.06.