Default Settlement Method Sample Clauses
The Default Settlement Method clause defines the standard process by which obligations under an agreement are settled if no alternative method is specified. Typically, this clause outlines whether settlements will be made in cash, by physical delivery, or through another specified mechanism, and applies automatically unless the parties agree otherwise. Its core practical function is to provide certainty and consistency in how settlements are handled, thereby reducing ambiguity and the potential for disputes regarding the fulfillment of contractual obligations.
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Default Settlement Method. Net Share Settlement Net Share Settlement: If Net Share Settlement is applicable, then on the relevant Settlement Date, Company shall deliver to Dealer a number of Shares equal to the Share Delivery Quantity for such Settlement Date to the account specified herein free of payment through the Clearance System, and Dealer shall be treated as the holder of record of such Shares at the time of delivery of such Shares or, if earlier, at 5:00 p.m. (New York City time) on such Settlement Date, and Company shall pay to Dealer cash in lieu of any fractional Share based on the Settlement Price on the relevant Valuation Date.
Default Settlement Method. Net Share Settlement.
Default Settlement Method. Physical Settlement
Default Settlement Method. Physical Settlement Physical Settlement: Notwithstanding Section 9.2(a)(i) of the Equity Definitions, on the Settlement Date for any Physical Settlement of any Transaction, Dealer shall pay to Counterparty an amount in USD equal to the Forward Price for such Transaction on the relevant Settlement Date multiplied by the number of Settlement Shares for such Settlement, and Counterparty shall deliver to Dealer such Settlement Shares. If, on any Settlement Date, the Shares to be delivered by Counterparty to Dealer hereunder are not so delivered (the “Deferred Shares”), and a Forward Price Reduction Date occurs during the period from, and including, such Settlement Date to, but excluding, the date such Shares are actually delivered to Dealer, then the portion of the Physical Settlement Amount payable by Dealer to Counterparty in respect of the Deferred Shares shall be reduced by an amount equal to the Forward Price Reduction Amount for such Forward Price Reduction Date, multiplied by the number of Deferred Shares. Settlement Date: For any Settlement of any Transaction to which Physical Settlement is applicable, the Valuation Date for such Settlement. Net Share Settlement: On the Net Share Settlement Date for any Settlement of any Transaction to which Net Share Settlement is applicable, if the Net Share Settlement Amount for such Settlement is greater than zero, Counterparty shall deliver a number of Shares equal to such Net Share Settlement Amount (rounded down to the nearest integer) to Dealer, and if such Net Share Settlement Amount is less than zero, Dealer shall deliver a number of Shares equal to the absolute value of such Net Share Settlement Amount (rounded down to the nearest integer) to Counterparty, in either case, in accordance with Section 9.4 of the Equity Definitions, with such Net Share Settlement Date deemed to be a “Settlement Date” for purposes of such Section 9.4, and, in either case, plus cash in lieu of any fractional Shares included in such Net Share Settlement Amount but not delivered due to rounding required hereby, valued at the relevant Settlement Price. Net Share Settlement Date: For any Settlement of any Transaction to which Net Share Settlement is applicable, the date that follows the Valuation Date for such Settlement by one Settlement Cycle. Net Share Settlement Amount: For any Settlement of any Transaction to which Net Share Settlement is applicable, an amount equal to the Forward Cash Settlement Amount for such Settlement divide...
Default Settlement Method. Net Share Settlement; provided however that if Counterparty specifies a Cash Percentage in accordance with Section 10.03 of the Indenture in connection with the conversion of any Convertible Notes corresponding to the Options, Counterparty shall elect Combination Settlement, consistent with the settlement method elected by Counterparty for the corresponding Convertible Notes; provided further that, if Counterparty does not provide a Notice of Combination Settlement to Dealer in compliance with the requirements set forth in “Notice of Combination Settlement” below, Net Share Settlement shall be deemed to apply to the relevant Options. Counterparty agrees not to elect to specify a Cash Percentage (as defined in the Indenture) in connection with the conversion of any Convertible Notes if Counterparty is in possession of any material non-public information with respect to Counterparty or the Shares.
Default Settlement Method. Net Share Settlement Net Share Settlement: If Net Share Settlement is applicable, then on the relevant Settlement Date, Company shall deliver to Dealer the Share Delivery Quantity of Shares for such Settlement Date to the account specified hereto free of payment through the Clearance System.
Default Settlement Method. Net Share Settlement Cash Percentage: 0%; provided, however, that if Company (i) validly delivers notice of Cash Settlement hereunder and (ii) in such notice validly elects a Cash Percentage greater than 0% and less than or equal to 100%, the Cash Percentage shall equal the percentage specified as such in such notice.
Default Settlement Method. Physical Settlement Physical Settlement: Notwithstanding Section 9.2(a)(i) of the Equity Definitions, on the Settlement Date, Dealer shall pay to Counterparty an amount equal to the Forward Price on the relevant Valuation Date multiplied by the number of Settlement Shares for such Settlement, and Counterparty shall deliver to Dealer such Settlement Shares.
Default Settlement Method. Physical Settlement Physical Settlement: Notwithstanding Section 9.2(a)(i) of the Equity Definitions, on the Settlement Date, Party A shall pay to Party B an amount equal to the Forward Price on the relevant Valuation Date multiplied by the number of Settlement Shares for such Settlement, and Party B shall deliver to Party A such Settlement Shares.
Default Settlement Method. Cash Settlement Forward Cash Settlement Amount: An amount equal to (a) the Number of Shares to be Delivered, multiplied by (b) the Settlement Price.