Substitution Event definition

Substitution Event means, in respect of a Share, any Nationalization, Insolvency or Delisting in respect of such Share, or any Merger Event or Tender Offer in respect of such Share that is deemed by the Calculation Agent to be a Substitution Event, or an occurrence and continuation for at least eight consecutive applicable Exchange Business Days of a Market Disruption Event in respect of such Share.

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Substitution Event means, in respect of a Reference Asset, any Nationalization, Insolvency or Delisting in respect of such Reference Asset, or any Merger Event or Tender Offer in respect of such Reference Asset that is deemed by the Calculation Agent to be a Substitution Event, or an occurrence and continuation for at least eight consecutive applicable Exchange Business Days of a Market Disruption Event in respect of such Reference Asset.

Substitution Event means, with respect to the Non-Standard Reference Obligation:

Examples of Substitution Event in a sentence

In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, the Transferor by written notice to the Issuer, the Collateral Manager and the Trustee shall have the right, but not the obligation, to repurchase from the Retention Holder, cause the Retention Holder to repurchase from the Issuer and convey to the Transferor any such Collateral Obligation subject to the Repurchase and Substitution Limit.
To the extent any cash or other property received by the Issuer from the Retention Holder, by the Retention Holder from the Transferor in connection with a Substitution Event pursuant to this Section 12.4 exceeds the fair market value of the replaced Collateral Obligation (as determined by the Collateral Manager in its reasonable discretion), such excess shall be deemed a capital contribution from the Transferor to the Retention Holder, and from the Retention Holder to the Issuer.

More Definitions of Substitution Event

Substitution Event. An event which shall have occurred with respect to any:

Substitution Event means any of the following events with respect to any Fund and any Fund Shares:

Substitution Event. An event which shall have occurred with respect to any Collateral Obligation that:

Substitution Event means, with respect to any transfer of a related Substitute Contract to the Trust under Section 2.04, the occurrence of any of the following: (a) one or more Contracts identified in the related Substitution Notice as being an intended Replaced Contract with respect to such Substitute Contract, has become a Defaulted Contract, (b) one or more Contracts identified in the related Substitution Notice as being an intended Replaced Contract with respect to such Substitute Contract, has been subjected to a Material Modification, (c) one or more Contracts identified in the related Substitution Notice as being an intended Replaced Contract with respect to such Substitute Contract, has become an Ineligible Contract, or (d) one or more Contracts identified in the related Substitution Notice as being an intended Replaced Contract with respect to such Substitute Contract, has become a Prepaid Contract and the Trust has not yet received the related Prepayment.

Substitution Event means a Change in Control pursuant to which the Common Shares are converted into, or exchanged for, other property, whether in the form of securities of another Person, cash or otherwise.

Substitution Event means, in respect of a Reference Share, any Nationalization, Insolvency or Delisting in respect of such Reference Share, or any Merger Event or Tender Offer in respect of such Reference Share that is deemed by the Calculation Agent to be a Substitution Event, or the occurrence and continuation for at least five consecutive applicable Business Days of a Market Disruption Event (as defined below) in respect of such Reference Share.

Substitution Event means (i) a Change of Control, or (ii) a merger, amalgamation, arrangement, business combination or other transaction pursuant to which the Shares of the Company are converted into, or exchanged for, other property, whether in the form of securities of another entity, cash or otherwise;