Examples of Unwind Event in a sentence
The full definition of Hedging Disruption Early Unwind Event will further be detailed in the Swap Agreement (if any) in respect of each Portfolio.
If the Maturity Date relates to an Autocall Date, an Unwind Event will occur as provided in Part II of the Appendix.
In respect of a Cancellation Unwind Event, the Auction Agent shall round downwards the amount of Credit Support Assets (if any) to be sold where the denomination of the Credit Support Assets does not allow for a sale of such assets in the applicable Cancellation Proportion and if the Credit Support Assets are comprised of different types of Credit Support Assets, each such type shall be realised pro rata.
In respect of any Credit Support Assets comprising cash deposits, the Issuer, the Trustee or the Custodian shall realise such cash deposits into cash which shall be paid into the Cash Account as soon as reasonably practicable following the date on which notice is given that such Credit Support Assets are to be realised in whole or in part into cash in respect of an Unwind Event.
If a Cancellation Unwind Event occurs, on the related Cancellation Date the Funding Swap Counterparty will pay to the Issuer an amount (the " Cancellation Funding Amount") equal to the applicable Cancellation Proportion of the Value of the Total Return Funding Swap (which such Value shall be identical to that used in order to determine the Note NAV on the related Cancellation Notice Date).
More than one Unwind Event may occur at any time, each with its own consequences (without duplication) as set out below.
On the third Business Day after an Autocall Determination Date in respect of which an Autocall Unwind Event has occurred, an amount equal to the absolute value of the PV of Future Payments determined as of the related Autocall Determination Date.
At least once on each Dealing Day, the Determination Agent shall determine whether a Cushion Unwind Event has occurred on such day.
On the earlier to occur of (a) designation of an Early Termination Date in respect of the Performance Charged Agreement and (b) an Autocall Determination Date in respect of which an Autocall Unwind Event has occurred, an amount equal to the absolute value of the PV of Future Payments (if any) as of the Early Termination Date or, as applicable, the relevant Autocall Determination Date shall be deemed to have been notionally paid out of the relevant Notional Account.
Subject to paragraph (ii) below, on the earlier to occur of the Scheduled Maturity Date and the third Business Day after an Autocall Determination Date in respect of which an Autocall Unwind Event has occurred, the balance of the Notional Collection Account on such date (once, among others matters, cash has been notionally transferred between the Notional Collection Account and the Notional Trading Account such that the balance of the Notional Trading Account is equal to zero) shall be determined.