Payment Undertaker definition
Examples of Payment Undertaker in a sentence
Unless specified otherwise, Investors are exposed to the credit risk of the relevant Payment Undertaker of the Products.
Each Investor bears the general risk that the financial situation of the Payment Undertaker could deteriorate.
Furthermore, companies affiliated with the Payment Undertaker may become counterparties in hedging transactions relating to obligations of the Payment Undertaker stemming from the Products.
Although the Payment Undertaker actively manages credit exposure daily as part of its risk management framework, counterparty default risk may arise from unforeseen events or circumstances.
Furthermore, the Payment Undertaker, or affiliated companies of the Payment Undertaker, may issue other derivative instruments relating to the respective Underlying; introduction of such competing products may affect the market value of the Products.
As a result, conflicts of interest can arise between companies affiliated with the Payment Undertaker, as well as between these companies and Investors, in relation to obligations regarding the calculation of the price of the Products and other associated determinations.
The Payment Undertaker and its respective affiliated companies may receive non-public information relating to the Underlying, and neither the Payment Undertaker nor any of its affiliates undertake to make this information available to Investors.
In addition, the Payment Undertaker and its affiliates may act in other capacities with regard to the Products, such as Calculation Agent, Paying Agent and/or Index Sponsor.
The Payment Undertaker and affiliated companies may participate in transactions related to the Products in some way, for their own account or for account of a client.
This Agreement may be executed in any number of counterparts (including via facsimile or other electronic transmission), each of which shall be deemed an original, but all of which together shall constitute one instrument.