Settlement Rate Option means, in relation to the making of any FX Calculation (as defined in the Currency Annex), the method of determining the Settlement Rate specified in the Final Terms, which may either be (i) by reference to any of the terms defined in Section 4.5 and Section 4.6 of Annex A to the 1998 FX and Currency Option Definitions published by the International Swaps and Derivatives Association, Inc. (as amended and supplemented up to and including the Issue Date), which terms shall be specified in the Final Terms (in which case, the terms of such Section 4.5 and Section 4.6 shall, to the extent they are used in defining a Settlement Rate Option, be deemed to be incorporated in these Conditions) ("FX and Currency Option Determination"); (ii) Calculation Agent Determination of Settlement Rate; (iii) Issuer Discretion, (iv) Reference Dealer Poll or (v) by reference to Part 1 of the Rate Option Annex and the relevant Settlement Option Rate specified in the Final Terms ("Rate Option Annex Determination"). Where, for any reason, it is not possible to determine the Settlement Rate in accordance with the relevant method specified in the Final Terms, then the Settlement Rate shall be determined by the Calculation Agent in its sole and absolute discretion.
Settlement Rate Option means, for a Basket Currency, the spot rate for the reference currency on the relevant Valuation Date observed as per the Settlement Rate Option set forth in the following table. The screen or time of observation indicated in relation to any Settlement Rate Option set forth in the following table shall be deemed to refer to such screen or time of observation as modified or amended from time to time, or to any substitute screen thereto as determined by the Calculation Agent.
Settlement Rate Option means, as specified in the relevant Final Terms, (i) such “Settlement Rate Options” as may be included from time to time in Annex A to the 1998 FX and Currency Option Definitions, published by the International Swaps and Derivatives Association, Inc., the Emerging Markets Traders Association and the Foreign Exchange Committee or (ii) if “Alternative Currency Calculation Agent Determination” is specified as the Settlement Rate Option in the relevant Final Terms, such rate for the exchange of the Scheduled Payment Currency into U.S. dollars as determined by the Alternative Currency Calculation Agent, taking into consideration all available information that it deems relevant;
Examples of Settlement Rate Option in a sentence
Notwithstanding the foregoing, in the event the Clearing House determines (in its sole discretion) that a Settlement Rate Option is unavailable, the Clearing House will determine an alternative Settlement Rate Option.
If the Settlement Rate Option set out in the Relevant EMTA Template or given LCH G10 NDF Contract Template, as applicable, is unavailable at the relevant time, Disruption Fallback alternatives for the determination of the Settlement Rate will apply as set out in the Relevant EMTA Template or given LCH G10 NDF Contract Template, as applicable.
References to "Business Day", "Calculation Agent", "Currency Pair", "Disruption Fallback", "Notional Amount", "Reference Currency", "Settlement Currency", "Settlement Currency Amount", "Settlement Date", "Settlement Rate", "Settlement Rate Option", "Trade Date", "Valuation Date", and "Valuation Postponement" shall have the meanings given to them in the FCM ForexClear Contract Terms.
The Clearing House is the Calculation Agent and will store and apply the Settlement Rate Option and the Valuation Date for each FCM ForexClear Contract.
On the Valuation Date, the Clearing House uses the Settlement Rate for the Currency Pair for the FCM ForexClear Contract when it is published by Reuters, and calculates the Settlement Currency Amount for each FCM ForexClear Contract in the Settlement Currency by applying the relevant Settlement Rate Option as referenced in the Relevant EMTA Template or given LCH G10 NDF Contract Template, as applicable.
More Definitions of Settlement Rate Option
Settlement Rate Option means for each Reference Currency, as follows: Chinese Yuan: The Chinese Renminbi/U.S. Dollar official fixing rate, expressed as the amount of Chinese Renminbi per one U.S. Dollar, for settlement in two business days reported by The State Administration of Foreign Exchange of the People’s Republic of China, Beijing, which appears on the Reuters Screen SAEC Page opposite the symbol “USDCNY=“ at approximately 5:00 p.m., Beijing time, on the relevant Valuation Date.
Settlement Rate Option means, unless otherwise specified hereon, the specified “Settlement Rate Option” as may be included from time to time in Annex A to the 1998 FX and Currency Option Definitions, published by the International Swaps and Derivatives Association, Inc., the Emerging Markets Traders Association and the Foreign Exchange Committee and where (if applicable) for the purposes thereof, “Specified Time” shall have the meaning given to it in the applicable Final Terms;
Settlement Rate Option means, for the purposes of calculating the Settlement Rate, the Settlement Rate Option specified in the applicable Final Terms (or which is applicable pursuant to Condition 12.4 (Currency Disruption Fallbacks));
Settlement Rate Option means, in respect of the calculation of an In-the-Money Amount, the Settlement Rate Option specified as such (or deemed specified) in the relevant Confirmation.
Settlement Rate Option for each Reference Currency is as follows: Reference Currency Settlement Rate Option AUD One divided by the spot rate in (A): (A) The U.S. Dollar/Australian Dollar official fixing rate, expressed as the amount of U.S. Dollars per one Australian Dollar, for settlement in two Business Days reported by the Federal Reserve Bank of New York which appears on Reuters Screen 1FEE to the right of the caption “AUD” at approximately 12.00 p.m. New York time, on the Valuation Date. CNY The Chinese Renminbi/U.S. Dollar official fixing rate, expressed as the amount of Chinese Renminbi per one U.S. Dollar, for settlement in two Business Days reported by The State Administration of Foreign Exchange of the People’s Republic of China, Beijing, which appears on the Reuters Screen SAEC Page opposite the symbol “USDCNY=“ at approximately 5:00 p.m., Beijing time, on the Valuation Date. IDR The Indonesian Rupiah/U.S. Dollar spot rate at 11:00 a.m., Singapore time, expressed as the amount of Indonesian Rupiah per one U.S. Dollar, for settlement in two Business Days, reported by the Association of Banks in Singapore which appears on the Telerate Page 50157 to the right of the caption “Spot” under the column “IDR” at approximately 11:30 a.m., Singapore time, on the Valuation Date. JPY The Japanese Yen/U.S. Dollar official fixing rate, expressed as the amount of Japanese Yen per one U.S. Dollar, for settlement in two Business Days reported by the Federal Reserve Bank of New York which appears on Reuters Screen 1FED to the right of the caption “JPY” at approximately 10.00 a.m. New York time, on the Valuation Date. KRW The Korean Won/U.S. Dollar market average rate, expressed as the amount of Korean Won per one U.S. Dollar, for settlement in two Business Days reported by the Korea Financial Telecommunications and Clearing Corporation which appears on the Reuters Screen KFTC18 Page to the right of the caption “USD Today” that is available at approximately 5:30 p.m., Seoul time, on the Valuation Date or as soon thereafter as practicable, but in no event later than 9:00 a.m., Seoul time, on the first Business Day following the Valuation Date. SGD The Singapore Dollar/U.S. Dollar spot rate at 11:00 a.m., Singapore time, expressed as the amount of Singapore Dollar per one U.S. Dollar, for settlement in two Business Days, reported by the Association of Banks in Singapore which appears on the Reuters Page ABSIRFIX01 to the right of the caption “Spot” under the column “SGD” at approximately 1...
Settlement Rate Option means, in respect of the calculation of a Calculation Rate, such currency exchange rate as is specified in the applicable Final Terms by reference to the Settlement Rate Option set out in Annex A to the FX Definitions, provided that, the applicable Final Terms may specify and describe a Settlement Rate Option that is not set forth in Annex A to the FX Definitions. Schedule 7 to Agency Agreement FORM OF CERTIFICATE TO BE PRESENTED BY EUROCLEAR OR CLEARSTREAM, LUXEMBOURG BANK OF AMERICA CORPORATION (the “Issuer”) EURO MEDIUM-TERM NOTES DUE [YEAR OF MATURITY DATE/ REDEMPTION MONTH] Series No. [ ] Tranche No. [ ] (the “Notes”) [This is to certify that, based solely on certifications we have received in writing or by electronic transmission from member organizations appearing in our records as persons being entitled to a portion of the principal or notional amount set forth below (our “Member Organizations”) substantially to the effect set forth in the Agency Agreement dated July 22, 2009 (as amended, restated and/or supplemented from time to time) among the Issuer, Bank of America, N.A., London Branch as principal agent, Xxxxxxx Xxxxx International Bank Limited as transfer agent and registrar in respect of Registered Notes and the other agents named therein, as of the date hereof, $ principal or notional amount of the above-captioned Notes (i) is owned by persons that are not citizens or residents of the United States, domestic partnerships, domestic corporations, any estate the income of which is subject to United States federal income taxation regardless of its source or any trust with respect to which a court within the United States is able to exercise primary supervision over its administration, and one or more U.S. persons have the authority to control all of its substantial decisions or any other persons deemed a U.S. person under Section 7701(a)(30) of the Internal Revenue Code (taking into account changes thereto and associated effective dates, elections, and transition rules) (“U.S. persons”), (ii) is owned by U.S. persons that (a) are foreign branches of United States financial institutions (as defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(iv)) (“financial institutions”) purchasing for their own account or for resale, or (b) acquired the Notes through foreign branches of United States financial institutions and who hold the Notes through such United States financial institutions on the date hereof (and in either case (a) or (b), each s...
Settlement Rate Option means the Japanese Yen/U.S. Dollar official fixing rate, expressed as the amount of Japanese Yen per one U.S. Dollar, for settlement in two business days reported by the Federal Reserve Bank of New York which appears on Reuters Screen 1FED to the right of the caption “JPY” at approximately 10:00 a.m. New York time, on the relevant Valuation Date. The screen or time of observation indicated in relation to the Settlement Rate Option shall be deemed to refer to such screen or time of observation as modified or amended from time to time, or to any substitute screen thereto.