Settlement of Exercised Options. An exercised Option shall settle on its Settlement Date. Subject to Section 5.3 and 5.5, on the Settlement Date, the Buyer shall pay the Put Currency to the Seller for value on the Settlement Date and the Seller shall pay the Call Currency to the Buyer for value on the Settlement Date. An exercised Option shall be treated as an FX Transaction and a Currency Obligation (except, for the purposes of Section 8.1 only, if it is to be settled at its In-the-Money Amount), and for this purpose the relevant Settlement Date shall be treated as the Value Date of the FX Transaction.
Appears in 35 contracts
Sources: Foreign Exchange and Options Master Agreement (BHM Discretionary Futures Fund L.P.), Foreign Exchange and Options Master Agreement (Morgan Stanley Spectrum Technical Lp), Foreign Exchange and Options Master Agreement (Morgan Stanley Spectrum Strategic Lp)