Mr Cooper Group Inc (COOP)

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http://www.ecb.int/home/glossary/html/glossf.en.html#338

"final settlement (final transfer)
A settlement or transfer is final when it is unconditional, enforceable and irrevocable, even in the framework of insolvency proceedings opened against a participant (except in the case of criminal offences or fraudulent acts, as determined by a competent court). In the European context, a distinction is made between: 1) the enforceability of a transfer order which is binding on third parties and protected from insolvency risks, provided that the transfer order was entered in the relevant system, in accordance with the rules of that system, prior to the opening of insolvency proceedings (with transfer orders entered in a system following the opening of insolvency proceedings being legally enforceable only in exceptional circumstances); and 2) the irrevocability of a transfer order which cannot be revoked by the participants as of the point in time laid down in the rules of that system. Finality of transfer order is distinguished from finality of transfer, when entitlement is legally transferred to a receiver."

"The completion of a transaction or of processing with the aim of discharging participants’ obligations through the transfer of funds and/or securities. A settlement may be final or provisional. See also final settlement"

"settlement day (settlement date)
The day on which settlement actually takes place."

The setlement date for this particular(Washington Mutual) Acquisition is defined as being 180 days after bank closing or prior by mutual(receiver/acquirer) agreement but may be unilaterally extended by the Receiver

According to the Purchase and Assumption doc. the Puts (put right) may be made in the time frame up through one business day prior to the settlement date,(clause 3.4(b)There are also provisions to determine the Settlement Interest due during the intervening period from bank closing to settlement date.


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