Epstein Secrets

Section 11.3. Swaption Straddle. "Swaption Straddle" means a Swap Transaction that is identified in the related Confirmation or Confirmations as a Swaption Straddle or Straddle and

s applicable, the right to cause Seller to pay to Buyer the Cash Settlement Amount, if any, on the relevant Cash Settlement Payment Date and (B) if Physical Settlement is applicable, the right to cause the Underlying Swap Transaction to become effective; (ii) in respect of a Swap Transaction to which Optional Ear

wap Transaction in respect of which Buyer is the Fixed Rate Payer. (c) Underlying Receiver Swap. "Underlying Receiver Swap" means, in respect of a Swaption Straddle, a Swap Transaction in respect of which Buyer is the Floating Rate Payer. ARTICLE 15 PHYSICAL SETTLEMENT OF SWAPTIONS Section 15.1. Physical Settl

Payer. ARTICLE 15 PHYSICAL SETTLEMENT OF SWAPTIONS Section 15.1. Physical Settlement. In respect of each Exercise Date under a Swaption to which Physical Settlement is applicable, subject to any other applicable provisions, the Underlying Swap Transaction (which in the case of a Swaption forming part of a Swapti

faith and in a commercially reasonable manner. Section 13.10. Exercise of Swaption Straddles. (a) European style. In the case of a European style Swaption Straddle, on the Expiration Date Buyer may exercise either the Swaption in respect of the Underlying Payer Swap or the Swaption in respect of the Underlying

ailable for such currency, the rate determined by Seller on the basis of the par swap rates quoted by the Cash Settlement Reference Banks (which, if Physical Settlement is specified to be applicable or if institutions arc not specified in the related Confirmation, will be five leading dealers selected by Seller in