Tax Event

A provision that gets triggered when a change of tax event occurs.

Tender Offer

An offer to purchase some or all of shareholders' shares in a corporation. The price offered is usually at a premium to the market price. Tender offers may be friendly or unfriendly. Securities and Exchange Commission laws require any corporation or individual acquiring 5% of a company to disclose information to the SEC, the target company and the exchange.

Trading Disruption

A situation where markets cease to function in a regular manner, typically characterized by rapid and large market declines.