Initial Delta definition

Initial Delta means the quotient of (i) the difference between (x) the fair market value of a Hedging Transaction assuming a 0.5% increase in the price per share of the Subject Shares from the Initial Prevailing Price and (y) the fair market value of a Hedging Transaction assuming a 0.5% decrease in the price per share of the Subject Shares from the Initial Prevailing Price, divided by (ii) the product of (A) the amount of the Subject Shares Transferred in connection with such Hedging Transaction multiplied by (B) 1% of the Initial Prevailing Price. The quotient set forth in the preceding sentence shall be calculated and reported by the market maker who executes the Hedging Transaction on the date the Hedging Transaction is entered into.
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Examples of Initial Delta in a sentence

  • Further, upon request by the Town, Master Tenant shall furnish the Town with copies of all policies or certificates maintained by Subtenants as outlined herein, whether new or modified.

  • Within one Business Day after execution of the Worldspan/Delta Indemnity Claim Escrow Agreement by Worldspan, TTPC, Delta, and the Delta Escrow Agent, Worldspan shall deposit the amount of the Delta Indemnity Claim specified in the Initial Delta Indemnity Claim Notice into an escrow account established on behalf of Delta under the Worldspan/Delta Indemnity Claim Escrow Agreement.

  • Within seven days after Delta’s receipt of the Initial Delta Indemnity Claim Notice, each of Delta, Worldspan and TTPC shall enter into an escrow agreement (the “Worldspan/Delta Indemnity Claim Escrow Agreement”) in substantially the form attached hereto as Schedule 4.4(b)(2) and shall deliver duly executed counterpart signature pages to each other and to the Delta Escrow Agent.