Settlement Flexibility definition
Settlement Flexibility means the Seller’s right, on a tranche-by-tranche basis, to determine the actual Tranche Purchase Value within a range extending both below and above the Requested Tranche Purchase Value, calculated as any amount between:
(i) Requested Tranche Purchase Value × (1 - Settlement Flexibility), and
(ii) Requested Tranche Purchase Value × (1 + Settlement Flexibility), as agreed by the Parties in connection with a Delivered Tranche Notice. The flexibility percentage shall be expressed as a decimal (e.g., 25% as 0.25).
Examples of Settlement Flexibility in a sentence
For the avoidance of doubt, the Tranche Purchase Amount shall be calculated based on the final Tranche Purchase Value as determined in accordance with any agreed Settlement Flexibility.
For clarity, where Settlement Flexibility is applied to a Tranche under the Purchase and Sale Agreement, the Requested Tranche Purchase Value for purposes of calculating Market Value shall refer to the value before any upward adjustment due to Settlement Flexibility.