Examples of Determination Agency Agreement in a sentence
The Determination Agent has no duties or responsibilities except those expressly set forth in the Conditions, the Determination Agency Agreement and the other Relevant Provisions and no implied or inferred duties or obligations of any kind will be read into the Determination Agency Agreement against or on the part of the Determination Agent.
The Determination Agent will, as soon as reasonably practicable on such date and/or at such time as the Determination Agent is required in accordance with the Determination Agency Agreement and the Conditions and any other Relevant Provisions, perform such duties and obligations as are required to be performed by it in accordance therewith.
Subject as provided in the Conditions and the Determination Agency Agreement, the Issuer shall use all reasonable efforts to procure that there shall at all times be a Determination Agent for so long as any of the ETP Securities are outstanding.
The Determination Agent will, pursuant to the provisions of the Determination Agency Agreement, the LS Operating Procedures Agreement and the Conditions, make various non-discretionary calculations, that affect the ETP Securities, including calculating, among other things, the ETP Security Value and the Final Redemption Amount, the Optional Redemption Amount or the Mandatory Redemption Amount.
The provisions of the Determination Agency Agreement relating to a Rebalancing of the Basket or a Deleveraging of the Basket or the liquidation of assets to pay Principal Protection Amounts and/or Issuer Expenses are described in the sections "Basket Rebalancing" and "Deleveraging" below.
Pursuant to the terms of the Determination Agency Agreement, the Determination Agent is appointed by the Principal Protection Provider to determine if and to what extent a Rebalancing of the Basket and/or a Deleveraging of the Basket is to occur.
In addition, if the Notes fall due for redemption, the Issuer is required under the terms of the Determination Agency Agreement to request the redemption in accordance with the provisions of the Subscription and Redemption Agreement of all Feeder Fund Shares included in the Basket in sufficient time prior to the due date for redemption of the Notes to allow the Issuer to redeem the Notes.
The composition of the Basket may be changed from time to time in accordance with the provisions of the Determination Agency Agreement in the event that (i) a Rebalancing Event occurs, (ii) a Deleveraging Event occurs or (iii) the liquidation of assets in the Basket is required to enable the Issuer to pay Principal Protection Amounts to the Principal Protection Provider and/or to pay Issuer Expenses.
Each Determination Agency Agreement contains certain warranties and indemnities, which are of a customary nature and given by the Company in favour of Abbey National Treasury Services plc.
The Determination Agent will, pursuant to the provisions of the Determination Agency Agreement, the Operating Procedures Agreement and the Conditions, make various non-discretionary calculations, that affect the ETP Securities, including calculating, among other things, the ETP Security Value and the Final Redemption Amount, the Optional Redemption Amount or the Mandatory Redemption Amount.