Daily VWAP Clause Samples
The Daily VWAP clause defines how the Volume Weighted Average Price (VWAP) for a security is calculated on a daily basis. It typically specifies the method for determining the average price, weighted by trading volume, over the course of a single trading day, and may reference a particular data source or calculation agent. This clause is commonly used in financial contracts to set pricing benchmarks for transactions, such as in equity derivatives or structured products. Its core function is to ensure both parties have a clear, objective, and consistent reference price for settlement or valuation purposes, reducing disputes over pricing.
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Daily VWAP. The per share volume-weighted average price of the Common Stock on the New York Stock Exchange as displayed under the heading “Bloomberg VWAP” on Bloomberg page “CNO <equity> AQR” (or its successor if such page is not available) in respect of the period from the scheduled opening of trading until the scheduled close of trading of the primary trading session on such Trading Day (for the avoidance of doubt, including any “market-on-close” activity). If such volume-weighted average price is unavailable, the market value of one share of the Common Stock on such Trading Day will be determined by the Company's board of directors (or a committee thereof) in a commercially reasonable manner, using a volume-weighted average price method) and will be determined without regard to after hours trading or any other trading outside of the regular trading session.
Daily VWAP. The term “
Daily VWAP. The per share volume-weighted average price of the Common Stock on the New York Stock Exchange as displayed under the heading “Bloomberg VWAP” on Bloomberg page “CNO <equity> AQR” (or its successor if such page is not available) in respect of the period from the scheduled opening of trading until the scheduled close of trading of the primary trading session on such Trading Day (for the avoidance of doubt, including any “market-on-close” activity). If such volume-weighted average price is unavailable, the market value of one share of the Common Stock on such Trading Day will be determined by the Company's board of directors (or a committee thereof) in a commercially reasonable manner, using a volume-weighted average price method) and will be determined without regard to after hours trading or any other trading outside of the regular trading session.
Daily VWAP. The definition of “Daily VWAP” in the Indenture is hereby amended and restated in its entirety as follows: