Mid-Market Quotation definition
Mid-Market Quotation means, in respect of any Replaced Reference Entity or Replacement Reference Entity (as applicable) and a Scheduled Maturity, the mid-market level provided by the Swap Counterparty as displayed on Platform in respect of the relevant Replaced Reference Entity or Replacement Reference Entity (as applicable) or, prior to the date on which Platform becomes operational or in the event that Platform is not operational for any other reason at the relevant time or the relevant mid-market level is not shown at the relevant time, as provided by the Swap Counterparty, upon request, in respect of the relevant Replaced Reference Entity or Replacement Reference Entity (as applicable) and the relevant Scheduled Maturity at the relevant time.
Examples of Mid-Market Quotation in a sentence
Unless specified otherwise in a Mid-Market Quotation Report, the Administrator and the Valuation Agent, respectively, shall be entitled conclusively to assume that the figure(s) specified therein is the Mid-Market Quotation in respect of the LSS CDSs to which such notice relates.