Examples of Applicable Auction in a sentence
If “Auction Settlement” is specified as the Settlement Method in the Notes or, as the case may be, the Swap Agreement, and the Conditions to Settlement are satisfied as of the Auction Final Price Determination Date and in accordance with Section 12.1 the Fallback Settlement Method is not applicable, “ Final Price” shall mean the Applicable Auction Final Price.
For the avoidance of doubt, the No Auction Announcement Date shall be the date of the relevant announcement by ISDA and not the date of any related determination by the Calculation Agent that such announcement relates to Applicable Transaction Auction Settlement Terms, Parallel Auction Settlement Terms or an Applicable Auction.
If “ Auction Settlement” is specified as the Settlement Method in the Notes or, as the case may be, the Swap Agreement, and the Conditions to Settlement are satisfied as of the Auction Final Price Determination Date and in accordance with Section 12.1 the Fallback Settlement Method is not applicable, “Final Price” shall mean the Applicable Auction Final Price.
If “Auction Settlement” is specified as the Settlement Method in the Notes or, as the case may be, the Swap Agreement, and the Conditions to Settlement are satisfied as of the Auction Final Price Determination Date and in accordance with Section 12.1 the Fallback Settlement Method is not applicable, “Final Price” shall mean the Applicable Auction Final Price.
In the event of the specified date for the submission of tender offers being declared a public holiday, the offers will be received up to the appointed time on the next working day.
If the Swap Counterparty exercises the Physical Redemption Movement Option, all references in these Additional CLN Conditions to "Applicable Auction", "Applicable Credit Derivatives Auction Settlement Terms", "Auction Cancellation Date" and "Auction Final Price Determination Date" shall be deemed to be references to the "Parallel Auction", "Parallel Auction Settlement Terms" and "Parallel Auction Cancellation Date" and the terms of these Additional CLN Conditions shall be construed accordingly.
The Calculation Agent shall, as soon as practicable after publication of the Auction Final Price in respect of an Applicable Auction, make available for inspection by Noteholders at the specified office of the Paying Agent a copy of the relevant Applicable Credit Derivatives Auction Settlement Terms and copies of the relevant publication of the Auction Final Price.
If an Asset Package Credit Event has occurred and the Auction Final Price for the Applicable Auction reflects the entire relevant Asset Package in respect of the Prior Deliverable Obligation(s) or Package Observable Bond(s) (as applicable) (including any cash forming part of the Asset Package and the Asset Market Value of any Non-Financial Instrument or Non-Transferable Instrument), the Auction Redemption Amount or Final Auction Redemption Amount shall be determined using the Auction Final Price.
If the Calculation Agent, in its sole and absolute discretion, determines that an Applicable Auction is to be held with respect to the Reference Entity, then Condition 7(u) below shall apply for the purposes of determining the Cash Settlement Amount and Credit Event Redemption Amount.
The Applicable Auction Rate for the initial Auction Rate Period shall be determined by each Broker-Dealer.