Common use of Impact of market disruption Clause in Contracts

Impact of market disruption. If the Calculation Agent determines that any Valuation Date is a Market Disrupted Day, then such Valuation Date shall be postponed to the first succeeding Scheduled Trading Day that is not a Market Disrupted Day, unless each of the eight Scheduled Trading Days immediately following the originally scheduled Valuation Date is a Market Disrupted Day. In such case, (A) such eighth Scheduled Trading Day shall be deemed to be the Valuation Date, notwithstanding the fact that such day is a Market Disrupted Day, and (B) the Calculation Agent shall make the determinations required to be made under Sections 2.1 and 2.2 on such eighth Scheduled Trading Day in accordance with the formula for and method of calculating the Valuation Stock Prices, Individual Stock Returns, the Coupon Rate and the Coupon Payment Amount as provided herein. If, as a result of a Market Disruption Event, the Calculation Agent is unable to make a required determination with respect to any Individual Stock, the Calculation Agent shall estimate, in good faith, the value of such Individual Stock for purposes of determining the Closing Price thereof or make any other necessary determination using a good faith estimate.