1. An elastic sheet comprising:
a first sheet plated with a metal film on an upper surface thereof;
a number of moveable contacts attached on a lower surface of the first sheet;
a second sheet affixed on the lower surface of the first sheet and defining a number of receptacle holes corresponding to the moveable contacts; each of the first sheet and the second sheet having an extending portion respectively at a lateral side thereof and the extending portions bent towards the second sheet;
wherein the extending portion of the second sheet defines a recess.
2. The sheet as claimed in claim 1, wherein the recess is configured as rectangular shape and do not separate the second sheet into two parts.
3. The sheet as claimed in claim 1, wherein the recess separates the second sheet in two parts.
4. The sheet as claimed in claim 2, wherein the first sheet is affixed on the metal film on the upper surface of the extending portion thereof, and other portions of the upper surface of the first sheet is affixed with a reticulation metal film.
5. The sheet as claimed in claim 4, wherein the sheet defines a number of connecting slots for connecting adjacent receptacle holes.
6. The sheet as claimed in claim 1, wherein the second sheet is applied an adhesive on upper and lower surfaces thereof.
7. The sheet as claimed in claim 6, wherein the second sheet is affixed on a separator on the lower surface thereof before being assembled.
8. The sheet as claimed in claim 7, further comprising a cover mounted on the housing.
9. A switch comprising the sheet claimed in claim 1 and a circuit board, wherein when the moveable contacts engage with the fixed contact, the elastic sheet is affixed on the circuit board by the adhesive on the second sheet, and then the first extending portion connects to the circuit board for contacting a ground end thereof.
10. An elastic sheet assembly comprising:
a first sheet plated defining opposite upper and under surfaces;
a number of moveable contacts attached on the under surface of the first sheet;
a second sheet affixed on the under surface of the first sheet and defining a number of receptacle holes corresponding to the moveable contacts; each of the first sheet and the second sheet having an extending portion respectively at thereof a lateral side which is essentially located on a longitudinal end, and the extending portions folded back to have the extending portion of the second sheet essentially enclosed in that of the first sheet; wherein
taken along a line of said extending portions of the first sheet and the second sheet in a longitudinal direction of said first sheet and the second sheet, a space is formed between the folded extending portion of the first sheet and that of the second sheet in said longitudinal direction.
11. The elastic sheet assembly as claimed in claim 10, wherein the folded extension portion of the first sheet is directly mounted upon a printed circuit board on which fixed contacts are seated corresponding to the moveable contacts.
The claims below are in addition to those above.
All refrences to claim(s) which appear below refer to the numbering after this setence.
1. (canceled)
2. The method according to claim 19, wherein the at least one credit event is selected from a group consisting of:
bankruptcy of the lessee;
restructuring of the lessee entity;
the lessee’s failure to pay a previously agreed financial obligation;
the lessee’s failure to make at least one of the lease payments; and
other events that significantly impairs the lessee’s credit-worthiness.
3. The method according to claim 19, wherein the strike price is a predetermined percentage of the corresponding estimated potential losses.
4. The method according to claim 19, wherein the strike price is 100% of the corresponding estimated potential losses.
5. The method according to claim 19, wherein the put option is sold to the lessor at a premium that is determined based at least in part on a recovery rate of the claim against the lessee.
6. The method according to claim 19, further comprising:
stipulating one or more pre-conditions that the lessor must meet before exercising the put option, the one or more pre-conditions being selected from a group consisting of:
a definitive rejection or repudiation of the lease agreement by the lessee;
an acknowledgement of bankruptcy or insolvency status from the lessee;
commercially reasonable efforts made by the lessor to mitigate actual losses;
a cancellation of the lease agreement by a bankruptcy court; and
a confirmation or modification of the claim by a bankruptcy court.
7. The method according to claim 19, further comprising:
receiving a delivery or assignment of the claim from the lessor when the lessor chooses to exercise the put option; and
paying the lessor the strike price in return for the delivery or assignment.
8. The method according to claim 19, wherein the put option is exercisable only after the claim has been judicially confirmed or modified.
9. The method according to claim 8, wherein the strike price is a predetermined percentage of the judicially confirmed or modified claim amount.
10. The method according to claim 19, wherein the put option is exercisable prior to a judicial confirmation or modification of the claim.
11. The method according to claim, wherein the lessor receives a payment at the strike price pursuant to the put option, and wherein the payment is subsequently adjusted based at least in part on the judicially confirmed or modified claim amount.
12. The method according to claim 19, wherein the put option is provided to the lessor prior to a first lease payment under the lease agreement.
13. The method according to claim 19, wherein the put option is provided to the lessor subsequent to a first lease payment under the lease agreement but prior to any credit event or expiration of the lease agreement.
14. The method according to claim 19, further comprising:
transferring the put option, by the lessor to a party other than the lessee.
15. A computer-implemented method for protecting a first party in a lease against a risk of default by a second party, the method comprising:
determining, using a first computer processor, a schedule of potential damages that the first party might suffer if the second party defaults on the lease at one or more times during the lease term;
transmitting, over a network, the schedule of potential damages to a user device associated with either the first party or the second party;
structuring, using a second computer processor, a put option that allows the first party to sell, upon a triggering event, a claim of damages against the second party at a strike price, the strike price being determined based at least in part on the schedule of potential damages;
pricing the put option at a premium based at least in part on an estimated recovery rate of the claim; and
electronically providing the put option to the first party in return for the premium.
16. The method according to claim 15, wherein:
the first party is a lessor and the second party is a lessee; and
the claim of damages is the lessor’s claim against the lessee for one or more losses selected from a group consisting of: a loss of the lease payments, a loss of residual value of the leased asset, and other financial losses associated with the lease agreement.
17. The method according to claim 15, wherein:
the first party is a lessee and the second party is a lessor; and
the claim of damages is the lessee’s claim against the lessor for cost-of-cover damages.
18. A system for hedging risks in a commercial lease, the system comprising:
a data storage device for storing information related to a lease agreement between a lessor and a lessee, the lease agreement calling for the lessor to lease an asset to the lessee for a period of time in return for lease payments; and
a data processor configured to implement the following:
an evaluation module for estimating potential losses that the lessor will suffer if at least one credit event causes the lessee to default on the lease agreement, the potential losses including one or more types of losses selected from a group consisting of:
a loss of the lease payments,
a loss of residual value of the leased asset, and
other financial losses associated with the lease agreement;
a modeling module for structuring a put option, whereby, upon the at least one credit event, the lessor can choose to sell a claim against the defaulting lessee at a strike price, the strike price being an amount that varies based at least in part on the estimated potential losses and the time at which the lessee defaults;
a pricing module for determining a premium for the put option based at least in part on an estimated recover rate of the claim; and
a payment module for providing the put option to the lessor in return for the premium;
wherein the data storage device is further operable to store recorded data related to the put option, the data including one or more pre-conditions that the lessor must meet before exercising the put option.
19. A computer implemented method for hedging risks in a commercial lease, the method comprising:
receiving, over a network, information related to a lease agreement between a lessor and a lessee, the lease agreement calling for the lessor to lease an asset to the lessee for a period of time in return for lease payments;
storing the information related to the lease agreement in a database;
estimating, using a computer processor, potential losses that the lessor will suffer if at least one credit event causes the lessee to default on the lease agreement, the potential losses including one or more types of losses selected from a group consisting of:
a loss of the lease payments,
a loss of residual value of the leased asset, and
other financial losses associated with the lease agreement; and
providing the lessor a put option via a user device;
whereby, upon the at least one credit event, the lessor can choose to sell a claim against the defaulting lessee at a strike price, the strike price being an amount that varies based at least in part on the estimated potential losses and the time at which the lessee defaults.
20. The method according to claim 19, wherein the user device is a hand-held wireless device.
21. The method according to claim 20, wherein the hand-held wireless device is a mobile phone associated with the lessor.
22. The method according to claim 15, wherein the schedule of potential damages is transmitted to a user device associated with the first party.
23. The method according to claim 15, wherein the schedule of potential damages is transmitted to a user device associated with the second party.
24. The method according to claim 15, wherein the schedule of potential damages is transmitted to a first user device associated with the first party and to a second user device associated with the second party.
25. The method according to claim 15, wherein the first computer processor and second computer processor are the same computer processor.