Fallback Mechanism definition

Fallback Mechanism has the meaning specified in § 15.3 (Fallback Mechanism); "Floating Price" has the meaning specified in § 15.1 (Settlement Price Calculation); "Force Majeure" has the meaning specified in § 7.1 (Definition of Force Majeure);
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Fallback Mechanism has the meaning specified in §
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Fallback Mechanism has the meaning specified in § 15.3 (Fallback Mechanism);
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Examples of Fallback Mechanism in a sentence

  • Each Party shall promptly negotiate in good faith to agree with the other on an Alternative Settlement Price (or a method for determining the Alternative Settlement Price), and, if the Parties have not so agreed on or before the fifth Business Day following the first Calculation Date on which the Market Disruption Event existed, the next applicable Fallback Mechanism shall apply.

  • The Calculation Agent shall determine the Alternative Settlement Price which shall be the price for that Calculation Date of the first Alternate Commodity Reference Price (if any, specified in the applicable Individual Contract), which is not itself subject to a Market Disruption Event; if an Alternate Commodity Reference Price has not been agreed on in the Individual Contract, the next applicable Fallback Mechanism shall apply for the relevant Individual Contract.

  • The Calculation Agent can only use the next following Fallback Mechanism provision if the previous Fallback Mechanism provision is not available due to a Market Disruption Event or otherwise as provided in § 15.3 (Fallback Mechanism), as applicable.

  • In the event of a Market Disruption Event, the order of succession of § 15.3 (Fallback Mechanism) from (a) to (c) shall be binding upon the Calculation Agent.

  • Upon the occurrence of a Market Disruption Event as specified in § 15.4 (Definition of Market Disruption Event), the Calculation Agent shall determine an alternative price to which the relevant Individual Contract shall be settled (the "Alternative Settlement Price") according to the applicable Fallback Mechanism contained in the provisions of § 15.3 (Fallback Mechanism).

  • The Calculation Agent can only use the next following Fallback Mechanism provision if the previous Fallback Mechanism provision is not available due to a Market Disruption Event or otherwise as provided in §15.3, as applicable.


More Definitions of Fallback Mechanism

Fallback Mechanism means, in respect of the Foreign Exchange Rate and any relevant day (or, if such day is not a FX Business Day, the earlier of (I) the next following FX Business Day, and (II) the second weekday prior to the Maturity Date), that the Foreign Exchange Rate will be determined by the Calculation Agent for the Relevant Day as follows:
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Related to Fallback Mechanism

  • UPI Mechanism means the mechanism that may be used by a UPI Bidder to make a Bid in the Offer in accordance with the UPI Circulars;

  • Residual market mechanism means an arrangement, either voluntary or mandated by law, involving participation by insurers in the equitable apportionment among them of insurance which may be offered to applicants who are unable to obtain insurance through ordinary methods.

  • Alternative Payment Mechanism means, with respect to any securities or combination of securities (together in this definition, “such securities”), provisions in the related transaction documents requiring the Corporation to issue (or use commercially reasonable efforts to issue) one or more types of APM Qualifying Securities raising eligible proceeds at least equal to the deferred Distributions on such securities and apply the proceeds to pay unpaid Distributions on such securities, commencing on the earlier of (x) the first Distribution Date after commencement of a deferral period on which the Corporation pays current Distributions on such securities and (y) the fifth anniversary of the commencement of such deferral period, and that

  • Fallback Rate means, where a Permanent Discontinuation Trigger for an Applicable Benchmark Rate has occurred, the rate that applies to replace that Applicable Benchmark Rate in accordance with Condition 5.3(b)(i)(B);

  • ISDA Fallback Adjustment means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor.