Modified Physical Settlement definition
Examples of Modified Physical Settlement in a sentence
In the event of a Modified Physical Settlement, Counterparty may request, prior to electing Modified Physical Settlement, that Dealer inform it if there would be an Excess Ownership Position in respect of Newmark Shares if Modified Physical Settlement were elected and Dealer shall, within one Business Day, respond to such request in writing.
Counterparty shall have the right to delay the Registration Conditions Satisfaction Date for up to 90 days to the extent that the SEC has not declared its registration statement effective or there are other administrative delays provided that Counterparty is acting in a good faith and commercially reasonably manner to cause the registration statement to be declared effective (it being understood that any such delay may result in the postponement of the Modified Physical Settlement Payment Date).
From and after the Settlement Method Election Date, unless Counterparty has elected Modified Physical Settlement, Dealer shall not exchange, or attempt to exchange, Preferred Units for Newmark Shares.
Any Settlement Election Notice specifying Modified Physical Settlement shall only be valid if it contains the following representations and warranties of Counterparty in its capacity as Electing Party: as of the date of such Settlement Election Notice, Counterparty repeats all of its representations and warranties contained in this Confirmation.
If Cash Settlement or Net Share Settlement is applicable, the Relevant Price; or if Physical Settlement or Modified Physical Settlement is applicable, the Strike Price.
Default Settlement Method: Cash Settlement Settlement Date: In the case of Physical Settlement, Modified Physical Settlement and Net Share Settlement, the Settlement Date as defined in the Definitions, or, in the case of Cash Settlement, the Cash Settlement Payment Date as defined in the Definitions.