Underlying Stocks definition

Underlying Stocks means the stocks included in the Index or any Successor Index.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Underlying Stocks means the stocks included in the Index or any Successor Index. If the Calculation Agent determines that an Extraordinary Event has occurred and is continuing, and if the Extraordinary Event is expected by the Calculation Agent to continue, the Company may immediately cancel all outstanding Warrants by notifying the Warrant Agent of such cancellation (the date such notice is given being the "Cancellation Date"), and each beneficial owner's rights under the Warrants and this Agreement shall thereupon cease; provided that each Warrant shall be automatically exercised on the basis that the Valuation Day for such Warrant shall be the Cancellation Date, if the Cancellation Date is an Index Calculation Day, or the immediately succeeding Index Calculation Day, if the Cancellation Date is not an Index Calculation Day, and the Holder of each such Warrant shall receive, in lieu of the Cash Settlement Amount of such Warrant, an amount (the "Alternative Settlement Amount"), determined by the Calculation Agent, which is the greater of (i) the average of the last sale prices, as available, of the Warrants on the AMEX (or any successor securities exchange on which the Warrants are listed) on the 30 trading days preceding the date on which such Extraordinary Event was declared; provided that, if the Warrants were not traded on the AMEX (or such successor securities exchange) on at least 20 of such trading days, no effect will be given to this clause (i) for the purpose of determining the Alternative Settlement Amount, and (ii) the amount "X" calculated using the formula set forth below: X = I + [ T A ] [ ------ X ------ ] [ 2 B ] where I = The Cash Settlement Amount of the Warrants determined as described in Section 2.02(d), but subject to the following modifications:

Underlying Stocks. (each an "Underlying Stock") are the common stocks included in the 2004-1 Income 10 Portfolio from time to time. The "Underlying Issuers" (each an "Underlying Issuer") are the issuers of the Underlying Stocks. The Underlying Stocks as of February 19, 2004 are: Altria Group, Inc.; AT&T Corp.; E.I. du Pont de Nemours and Company; Exxon Mobil Corporation; General Electric Company; General Motors Corporation; International Paper Company; J.P. Morgan Chase & Co.; Merck & Co. Inc.; and SBC Communications Inc.

Examples of Underlying Stocks in a sentence

The Company is under no obligation to, nor will it, sell or deliver to any Warrantholder any shares of any of the Underlying Stocks or any other securities in connection with the exercise of any Warrants.
At that time, the value of the shares of the removed Underlying Stock, less the value, if any, of the notional call options in respect of that Underlying Stock, will be reallocated to notional investments in shares (or fractional shares) of the remaining Underlying Stocks.
Warrantholders will not receive any interest on any Cash Settlement Value or Alternative Settlement Amount, and the Warrants will not entitle the Warrantholders to any of the rights of holders of any of the Underlying Stocks or any other securities.
If during any quarterly calculation period the calculation agent removes one of the Underlying Stocks, all outstanding notional call options in respect of that Underlying Stock will be treated as terminated at the close of business on the day on which the Underlying Stock is removed.
After reconstituting the 2004-1 Income 10 Portfolio for the next year, the calculation agent will rebalance the 2004-1 Income 10 Portfolio and set Portfolio Composition Ratios so that each Underlying Stock represents approximately 10% of the value of the 2004-1 Income 10 Portfolio based on the Closing Prices of the Underlying Stocks as of the reconstitution date.
These stocks will be the Underlying Stocks until the next annual rebalancing.
CALL OPTIONS The calculation agent will price notional cash-settled call options relating to shares of each of the Underlying Stocks on a quarterly basis, except in the circumstances described below.
Warrantholders will not receive any interest on any Cash Settlement Value, and the Warrants will not entitle the Warrantholders to any of the rights of holders of any of the Underlying Stocks or any other securities.
To create the 2004-1 Income 10 Portfolio, the calculation agent calculated a notional portfolio of the Underlying Stocks representing an investment of $10 in each Underlying Stock at their volume weighted average prices, or VWAP, on February 19, 2004.
A Warrant will not require or entitle a Warrantholder to purchase or take delivery from the Company of any shares of any component stocks of the Nasdaq 100 Index or any Successor Index to the Nasdaq 100 Index (the "Underlying Stocks"), or any other securities.

More Definitions of Underlying Stocks

Underlying Stocks. (each an “Underlying Stock”) are the common stocks included in the 2005-1 REIT Portfolio from time to time. The “Underlying Issuers” (each an “Underlying Issuer”) are the issuers of the Underlying Stocks. The current Underlying Stocks are: New Century Financial Corporation; Simon Property Group, Inc.; Equity Office Properties Trust; Equity Residential; Archston-▇▇▇▇▇ Trust; General Growth Properties, Inc.; Novastar Financial, Inc.; Vornado Realty Trust; Friedman, Billings, ▇▇▇▇▇▇ Group, Inc.; Impac Mortgage Holdings, Inc.; Developers Diversified Realty Corporation; Boston Properties, Inc.; Apartment Investment and Management Company; Liberty Property Trust; Annaly Mortgage Management, Inc. The Macerich Company; Kimco Realty Corporation; Duke Realty Corporation; ▇▇▇▇▇▇▇▇▇ Mortgage, Inc.; Redwood Trust, Inc.; Rayonier Inc.; ▇▇▇▇-▇▇▇▇ Realty Corporation; United Dominion Realty Trust, Inc.; Reckson Associates Realty Corp.; and Hospitality Properties Trust. The 2005-1 REIT Portfolio will be calculated by Citigroup Global Markets Inc. as calculation agent using an equal dollar-weighting methodology designed to ensure that each of the Underlying Stocks is represented in an approximately equal dollar amount in the 2005-1 REIT Portfolio as of each annual reconstitution of the 2005-1 REIT Portfolio. To create the 2005-1 REIT Portfolio, the calculation agent calculated a notional portfolio of the Underlying Stocks representing an investment between approximately $2 and approximately $6 in each Underlying Stock at their volume weighted average prices, or VWAP, on March 30, 2005. Accordingly, each Underlying Stock initially represented between approximately 2% and approximately 6% of the value of the 2005-1 REIT Portfolio. The VWAP of a common stock for any day is the total value of the shares of that stock traded on that stock’s relevant exchange that day divided by the total number of shares of that stock traded on that stock’s relevant exchange that day. The VWAP of each Underlying Stock for any day will be the price as calculated by Bloomberg Financial Markets using the function “VAP,” or any successor function, and taking into account all trades of that stock between 9:30 a.m. and 4:00 p.m. New York time on that date or if such price is not so calculated by Bloomberg Financial Markets, then as reported by another recognized source selected by the calculation agent on that date. The value of the 2005-1 REIT Portfolio at any time equals the sum of the products of th...

Underlying Stocks means the securities which are the subject of the Single Stock Futures Contract.[Deleted] The Contract represents a Ringgit interbank time deposit in the Kuala Lumpur Wholesale Money Market having a principle value of Ringgit Malaysia One Million (RM1,000,000) with a three-month maturity on a 360-day year.[Deleted]

Underlying Stocks. (each an "Underlying Stock") are the common stocks included in the Income 10 Portfolio from time to time. The "Underlying Issuers" (each an "Underlying Issuer") are the issuers of the Underlying Stocks.