Common use of Settlement Currency Clause in Contracts

Settlement Currency. USD Exchange: The New York Stock Exchange Related Exchange: All Exchanges Prepayment: Not Applicable Variable Obligation: Not Applicable Initial Forward Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the product of (i) an amount equal to 1 minus the Forward Hedge Selling Commission Rate (as defined in the Sales Agreement and specified in the Supplemental Confirmation for such Transaction) applicable to such Transaction; and (ii) the Volume-Weighted Hedge Price for such Transaction (such product adjusted as the Calculation Agent determines appropriate to (x) reflect on each day during the Forward Hedge Selling Period and through the Effective Date the sum of 1 and the Daily Rate for such day multiplied by the then-Initial Forward Price as of such day and (y) reduce the then-Initial Forward Price by the relevant Forward Price Reduction Amount on each Forward Price Reduction Date, if any, occurring on or before the Trade Date). Forward Price: For each Transaction, on the Effective Date of such Transaction, the Initial Forward Price, and on any day thereafter, the product of the Forward Price on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price on each Forward Price Reduction Date shall be the Forward Price otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Date. Volume-Weighted Hedge Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the volume-weighted average of the prices per share of Forward Hedge Shares (as defined in the Sales Agreement) sold pursuant to the Sales Agreement on each Trading Day of the Forward Hedge Selling Period (as defined in the Sales Agreement) for such Transaction, as determined by the Calculation Agent.

Appears in 3 contracts

Samples: Sales Agreement (American Homes 4 Rent), Equity Distribution Agreement (Life Storage Lp), Equity Distribution Agreement (Life Storage Lp)

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Settlement Currency. USD Exchange: The New York Stock Exchange Related Exchange: All Exchanges Prepayment: Not Applicable Variable Obligation: Not Applicable Forward Price: For each Transaction, on the Effective Date for such Transaction, the Initial Forward Price for such Transaction, and on any day thereafter, the product of the Forward Price for such Transaction on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price for such Transaction on each Forward Price Reduction Date for such Transaction shall be the Forward Price for such Transaction otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Date. Initial Forward Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the product of (i) an amount equal to 1 minus the Forward Hedge Selling Commission Rate (as defined in the Sales Agreement and specified in the Supplemental Confirmation for such TransactionAgreement) applicable to such Transaction; Transaction; and (ii) the Volume-Weighted Hedge Price for such Transaction (such product adjusted as Price, subject to adjustment by the Calculation Agent determines appropriate to (x) reflect on each day during the Forward Hedge Selling Period and through the Effective Date the sum of 1 and the Daily Rate for such day multiplied by the then-Initial Forward Price as of such day and (y) reduce the then-Initial Forward Price by the relevant Forward Price Reduction Amount on each Forward Price Reduction Date, if any, occurring on or before the Trade Date)Agent. Forward Price: For each Transaction, on the Effective Date of such Transaction, the Initial Forward Price, and on any day thereafter, the product of the Forward Price on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price on each Forward Price Reduction Date shall be the Forward Price otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction DateExh. C-4 Volume-Weighted Hedge Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the volume-weighted average of the prices Sales Prices (as defined in the Sales Agreement) per share of Forward Hedge Shares (as defined in the Sales Agreement) sold pursuant to the Sales Agreement on each Trading Day of the Forward Hedge Selling Period (as defined in the Sales Agreement) for such Transaction, as determined by the Calculation AgentAgent; provided that, solely for the purposes of calculating the Initial Forward Price, each such Sales Price (other than the Sales Price for the last day of the relevant Forward Hedge Selling Period) shall be subject to adjustment by the Calculation Agent in the same manner as the Forward Price pursuant to the definition thereof during the period from, and including, the date one Settlement Cycle immediately following the first Trading Day of the relevant Forward Hedge Selling Period on which the Forward Hedge Shares related to such Sales Price are sold to, and including, the Effective Date of such Transaction; provided further, that if a Forward Price Reduction Date occurs during the period from and including the first Trading Day of the relevant Forward Hedge Selling Period and ending on, but excluding the date one Settlement Cycle immediately following such first Trading Day, then the Initial Forward Price shall be the Initial Forward Price otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Date. Daily Rate: For any day, the Overnight Bank Funding Rate minus the Spread. Spread: For each Transaction, as specified in the Supplemental Confirmation for such Transaction.

Appears in 1 contract

Samples: Sales Agency Financing Agreement (Eastgroup Properties Inc)

Settlement Currency. USD Exchange: The New York Stock Exchange Related Exchange: All Exchanges Prepayment: Not Applicable Variable Obligation: Not Applicable Forward Price: For each Transaction, on the Effective Date for such Transaction, the Initial Forward Price for such Transaction, and on any calendar day thereafter, the product of the Forward Price for such Transaction on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price for such Transaction on each Forward Price Reduction Date for such Transaction shall be the Forward Price for such Transaction otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Date. Initial Forward Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the product of (i) an amount equal to 1 minus the Forward Hedge Selling Commission Rate (as defined in the Sales Agreement and specified in the Supplemental Confirmation for such TransactionEquity Distribution Agreement) applicable to such Transaction; and (ii) the Volume-Weighted Hedge Price Price, subject to adjustment, including without limitation for such Transaction (such product adjusted as the Calculation Agent determines appropriate to (x) reflect on each day during the Forward Hedge Selling Period and through the Effective Date the sum of 1 and the Daily Rate for such day multiplied by the then-Initial Forward Price as of such day and (y) reduce the then-Initial Forward Price by the relevant any Forward Price Reduction Amount on each Forward Price Reduction Date, if any, occurring on or before the Trade Date). Forward Price: For each Transaction, on the Effective Date of such Transaction, the Initial Forward Price, and on corresponding to any day thereafter, the product of the Forward Price on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price on each Forward Price Reduction Date shall be occurring prior to the Forward Price otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Trade Date. Volume-Weighted Hedge Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the volume-weighted average of the prices Sales Prices (as defined in the Equity Distribution Agreement) per share of Forward Hedge Shares (as defined in the Sales Equity Distribution Agreement) sold pursuant to the Sales Agreement by Dealer (or its agent or affiliate) on each Trading Day of the Forward Hedge Selling Period (as defined in the Sales Agreement) for such Transaction, as determined by the Calculation Agent; provided that, solely for the purposes of calculating the Initial Forward Price, each such Sales Price (other than the Sales Price for the last day of the relevant Forward Hedge Selling Period) shall be subject to adjustment by the Calculation Agent in the same manner as the Forward Price pursuant to the definition thereof during the period from, and including, the date one Settlement Cycle immediately following the first Trading Day of the relevant Forward Hedge Selling Period on which the Forward Hedge Shares related to such Sales Price are sold to, and including, the Effective Date of such Transaction. Daily Rate: For any day, the Overnight Bank Funding Rate minus the Spread. Spread: For each Transaction, as specified in the Supplemental Confirmation for such Transaction.

Appears in 1 contract

Samples: Equity Distribution Agreement (Welltower Inc.)

Settlement Currency. USD Exchange: The New York Stock Exchange Related Exchange: All Exchanges Prepayment: Not Applicable Variable Obligation: Not Applicable Initial Forward Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the product of (i) an amount equal to 1 minus the Forward Hedge Selling Commission Rate (as defined in the Sales Agreement and specified in the Supplemental Confirmation for such TransactionDistribution Agreement) applicable to such Transaction; and (ii) the Volume-Weighted Hedge Price for such Transaction (such product adjusted as the Calculation Agent determines appropriate to (x) reflect on each day during the Forward Hedge Selling Period and through the Effective Date the sum of 1 and the Daily Rate for such day multiplied by the then-Initial Forward Price as of such day and (y) reduce the then-Initial Forward Price by the relevant Forward Price Reduction Amount on each Forward Price Reduction Date, if any, occurring on or before the Trade Date). Forward Price: For each Transaction, on the Effective Date of such Transaction, the Initial Forward Price, and on any day thereafter, the product of the Forward Price on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price on each Forward Price Reduction Date shall be the Forward Price otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Date. Volume-Weighted Hedge Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the volume-weighted average of the prices Forward Sales Prices (as defined in the Distribution Agreement) per share of Forward Hedge Shares (as defined in the Sales Distribution Agreement) sold pursuant to the Sales Agreement on each Trading Exchange Business Day of the Forward Hedge Selling Period (as defined in the Sales Distribution Agreement) for such Transaction. Daily Rate: For any day, the Overnight Bank Funding Rate minus the Spread. Spread: For each Transaction, as determined by specified in the Calculation AgentSupplemental Confirmation for such Transaction.

Appears in 1 contract

Samples: Equity Distribution Agreement (Brixmor Operating Partnership LP)

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Settlement Currency. USD Exchange: The New York Stock Exchange Related Exchange: All Exchanges Prepayment: Not Applicable Variable Obligation: Not Applicable Initial Forward Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the product of (i) an amount equal to 1 minus the Forward Hedge Selling Commission Rate (as defined in the Sales Agreement and specified in the Supplemental Confirmation for such TransactionDistribution Agreement) applicable to such Transaction; and (ii) the Volume-Weighted Hedge Price for such Transaction (such product adjusted as the Calculation Agent determines appropriate to (x) reflect on each day during the Forward Hedge Selling Period such period and through the Effective Date the sum of 1 and the Daily Rate for such day multiplied by the then-Initial Forward Price as of such day and (y) reduce the then-Initial Forward Price by the relevant Forward Price Reduction Amount on each Forward Price Reduction Date, if any, occurring on or before the Trade Date). Forward Price: For each Transaction, on the Effective Date of such Transaction, the Initial Forward Price, and on any day thereafter, the product of the Forward Price on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price on each Forward Price Reduction Date shall be the Forward Price otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Date. Volume-Weighted Hedge Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the volume-weighted average of the prices Sales Prices (as defined in the Distribution Agreement) per share of Forward Hedge Shares (as defined in the Sales Distribution Agreement) sold pursuant to the Sales Agreement on each Trading Day of the Forward Hedge Selling Period (as defined in the Sales Distribution Agreement) for such Transaction. Daily Rate: For any day, the Variable Rate minus the Spread. Spread: For each Transaction, as determined by specified in the Calculation AgentSupplemental Confirmation for such Transaction. Variable Rate: For any day, the rate set forth opposite the caption “Overnight Bank Funding Rate” for such day on the page “OBFR01 <Index> <GO>” on the BLOOMBERG Professional Service, or any successor page; provided that if no such rate appears for such day on such page, the Variable Rate for such day shall be such rate for the immediately preceding day for which such a rate appears. Forward Price Reduction Dates: For each Transaction, as specified in Schedule I to the Supplemental Confirmation for such Transaction, to be each date set forth under the heading “Forward Price Reduction Dates” in the effective Placement Notice for such Transaction.

Appears in 1 contract

Samples: Terms Agreement (Apartment Income REIT Corp.)

Settlement Currency. USD Exchange: The New York Stock Exchange Related Exchange: All Exchanges Prepayment: Not Applicable Variable Obligation: Not Applicable Forward Price: For each Transaction, on the Effective Date for such Transaction, the Initial Forward Price for such Transaction, and on any calendar day thereafter, the product of the Forward Price for such Transaction on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price for such Transaction on each Forward Price Reduction Date for such Transaction shall be the Forward Price for such Transaction otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Date. Initial Forward Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the product of (i) an amount equal to 1 minus the Forward Hedge Selling Commission Rate (as defined in the Sales Agreement and specified in the Supplemental Confirmation for such TransactionEquity Distribution Agreement) applicable to such Transaction; and (ii) the Volume-Weighted Hedge Price Price, subject to adjustment, including without limitation for such Transaction (such product adjusted as the Calculation Agent determines appropriate to (x) reflect on each day during the Forward Hedge Selling Period and through the Effective Date the sum of 1 and the Daily Rate for such day multiplied by the then-Initial Forward Price as of such day and (y) reduce the then-Initial Forward Price by the relevant any Forward Price Reduction Amount on each Forward Price Reduction Date, if any, occurring on or before the Trade Date). Forward Price: For each Transaction, on the Effective Date of such Transaction, the Initial Forward Price, and on corresponding to any day thereafter, the product of the Forward Price on the immediately preceding calendar day and 1 + the Daily Rate * (1/365); provided that the Forward Price on each Forward Price Reduction Date shall be occurring prior to the Forward Price otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Effective Date. Volume-Weighted Hedge Price: For each Transaction, as specified in the Supplemental Confirmation for such Transaction, to be the volume-weighted average of the prices Sales Prices (as defined in the Equity Distribution Agreement) per share of Forward Hedge Shares (as defined in the Sales Equity Distribution Agreement) sold pursuant to the Sales Agreement by Dealer (or its agent or affiliate) on each Trading Day of the Forward Hedge Selling Period (as defined in the Sales Agreement) for such Transaction, as determined by the Calculation Agent; provided that, solely for the purposes of calculating the Initial Forward Price, each such Sales Price (other than the Sales Price for the last day of the relevant Forward Hedge Selling Period) shall be subject to adjustment by the Calculation Agent in the same manner as the Forward Price pursuant to the definition thereof during the period from, and including, the date one Settlement Cycle immediately following the first Trading Day of the relevant Forward Hedge Selling Period on which the Forward Hedge Shares related to such Sales Price are sold to, and including, the Effective Date of such Transaction. Daily Rate: For any day, the Overnight Bank Funding Rate minus the Spread. Spread: For each Transaction, as specified in the Supplemental Confirmation for such Transaction.

Appears in 1 contract

Samples: Equity Distribution Agreement (Welltower Inc.)

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