Switch Option definition

Switch Option means, if Change of Interest Basis and Issuer's Switch Option are specified as applicable in the applicable Final Terms, the option of the Issuer, at its sole absolute discretion, on one or more occasions and subject to the provisions of Condition 7(g), to change the Interest Basis of the Notes from Fixed Rate to Floating Rate, to Floating Rate to Fixed Rate or as otherwise specified in the applicable Final Terms, with effect from (and including) the Switch Option Effective Date specified in the applicable Final Terms to (but excluding) the Maturity Date;

Switch Option shall have the meaning set forth in Section 2.05(a).

Switch Option means, if specified as applicable in the relevant Final Terms, the option of the Issuer, at its sole discretion, on one or more occasions and subject to the provisions of Condition 7(e) (Resetting at the option of the Issuer) to change the interest provisions applicable to the Notes from the Fixed Rate Note Provisions to the Floating Rate Note Provisions or vice versa;

Examples of Switch Option in a sentence

• The relevant Interest Period to which the Switch Option Notice applies is as follows: From and including [●] to but excluding [●].Interest Period will be amended for an annual Interest Period.

• The undersigned, being the holder of Notes, hereby exercise(s) his Switch Option with respect to the Notes referred to below (provided that (a) the Switch Option is only available if it applies to all outstanding Notes and (b) in the event that an Early Redemption Event occurs during any relevant Interest Period, the Switch Option Notice will be deemed null and void and the Switch Option will be deemed not to have been exercised).

• The Final Terms shall specify whether the Fixed Rate Note Provisions or, as the case may be, the Floating Rate Note Provisions are applicable to the Notes from and including the Issue Date to but excluding the Coupon Switch Option Date.

• In case Auto Funds Rebalancing option or Safety Switch Option is chosen and operational then the same shall become ineffective once the request for Redirection is made.

• Under Switch Option, Unit holders may ‘Switch-Out’ (transfer) their investments in the Scheme, either partially or fully to any other scheme offered by the Mutual Fund from time to time.

More Definitions of Switch Option

Switch Option means, if specified as applicable in the relevant Final Terms, the option of the Issuer, at its sole discretion, on one or more occasions and subject to the provisions of Condition

Switch Option shall have the meaning ascribed thereto in Section 5.06(a).

Switch Option has the meaning ascribed to such term in the Royalty and Guarantee Agreement;

Switch Option has the meaning given to that term in Clause 8.5 (Interest Switch Option).

Switch Option means the option to elect to cease receiving AGGRASTAT Royalty Payments and instead receive MC-1 Royalty Payments.

Switch Option means the right at the Offeror’s discretion to elect to proceed by way of an Offer in lieu of proceeding with the Acquisition by way of the Scheme under the Implementation Agreement, which right may only be exercised in the manner provided for in Clause 3.1(a) of the Implementation Agreement, disregarding any subsequent amendments thereto unless we have consented to such amendments to apply to this Undertaking.

Switch Option means the right of the holder (or holders in aggregate) of 100% of the Notes outstanding, on the Switch Exercise Date, by irrevocable written notice to the Issuer, the Paying Agent and the Calculation Agent substantially in the form set out in Schedule 3 to the Issue Memorandum, to amend the Interest Amount payable under the Notes as specified in this paragraph 48, provided that no Mandatory Redemption Event has occurred as at such Switch Exercise Date and the Reference CDS Spread on the Observation Date is greater than or equal to 150 basis points per annum.