Settlement Disruption Events. In the case of Physical Delivery Securities, if a Settlement Disruption Event occurs or exists on the Settlement Date or the Redemption Date respectively, settlement will be postponed until the next Settlement Business Day in respect of which there is no Settlement Disruption Event. The relevant Issuer in these circumstances also has the right to pay the Disruption Cash Settlement Price (as defined below) in lieu of delivering the Entitlement. As further described below, the Disruption Cash Settlement Price may be less than the fair market value of the Entitlement.
Examples of Settlement Disruption Events in a sentence
The Technical Annex will (where stated to be applicable in the applicable Final Terms) contain provisions relating to adjustments with respect to Underlying(s) (as defined in the Technical Annex) as well as settlement disruption and market disruption in respect of such Underlying(s) (including, without limitation and where necessary, appropriate definitions of Potential Adjustment Event(s), Settlement Disruption Event(s) and Market Disruption Event(s) and details of the consequences of such events).