Common use of Market Disruption Event Clause in Contracts

Market Disruption Event. Section 6.6 (b) of the Equity Derivatives Definitions is replaced in its entirety by the words: “If any Valuation Date is a Disrupted Day, in the case of an Index Basket Transaction, the Valuation Date for all the Indices shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day, unless each of the five Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In that case, (i) that fifth Scheduled Trading Day shall be deemed to be the Valuation Date for all the Indices, notwithstanding the fact that such day is a Disrupted Day, and (ii) the Calculation Agent shall determine its good faith estimate of the value of all the Indices as of the Valuation Time on that fifth Scheduled Trading Day.”

Market Disruption Event. Section 6.6 (b) of the Equity Derivatives Definitions is replaced in its entirety by the words: “If any Valuation Date is a Disrupted Day, in the case of an Index Basket Transaction, the Valuation Date for all the Indices shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day, unless each of the five Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In that case, (i) that fifth Scheduled Trading Day shall be deemed to be the Valuation Date for all the Indices, notwithstanding the fact that such day is a Disrupted Day, and (ii) the Calculation Agent shall determine its good faith estimate of the value of all the Indices as of the Valuation Time on that fifth Scheduled Trading Day.”

Market Disruption Event. Section 6.6 (b) of the Equity Derivatives Definitions is replaced in its entirety by the words: “If any Valuation Date is a Disrupted Day, in the case of an Index Basket Transaction, the Valuation Date for all the Indices shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day, unless each of the five Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In that case, (i) that fifth Scheduled Trading Day Date shall be deemed to be the Valuation Date for all the Indices, notwithstanding the fact that such day is a Disrupted Day, and (ii) the Calculation Agent shall determine its good faith estimate of the value of all the Indices as of the Valuation Time on that fifth Scheduled Trading Day.”

Market Disruption Event. Section 6.6 (b6(b) of the Equity Derivatives Definitions is Definition ISDA 2002 shall be replaced in its entirety by the words: “If any Valuation Date is a Disrupted Day, in the case of an Index Basket Transaction, the Valuation Date for all the Indices shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day, unless each of the five Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In that case, (i) that fifth Scheduled Trading Day Date shall be deemed to be the Valuation Date for all the Indices, notwithstanding the fact that such day is a Disrupted Day, and (ii) the Calculation Agent shall determine its good faith estimate of the value of all the Indices as of the Valuation Time on that fifth Scheduled Trading Day.”

Market Disruption Event. Section 6.6 (b6.6(c) of the Equity Derivatives Definitions is shall be replaced in its entirety by the words: “If any Valuation Date is a Disrupted Day, in the case of an Index a Share Basket Transaction, the Valuation Date for all the Indices Shares shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day, unless each of the five Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In that case, (i) that fifth Scheduled Trading Day shall be deemed to be the Valuation Date for all the IndicesShares, notwithstanding the fact that such day is a Disrupted Day, and (ii) the Calculation Agent shall determine its good faith estimate of the value of all the Indices Shares as of the Valuation Time on that fifth Scheduled Trading Day.”

Market Disruption Event. Section 6.6 (b) of the Equity Derivatives Definitions is replaced in its entirety by the words: “If any Valuation Date is a Disrupted Day, in the case of an Index Basket Transaction, the Valuation Date for all the Indices shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day, unless each of the five Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In that case, (i) that fifth Scheduled Trading Day Date shall be deemed to be the Valuation Date for all the Indices, notwithstanding the fact that such day is a Disrupted Day, and (ii) the Calculation Agent shall determine its good faith estimate of the value of all the Indices as of the Valuation Time on that fifth Scheduled Trading Day.”

Market Disruption Event. Section 6.6 (b6(b) of the Equity Derivatives Definitions is shall be replaced in its entirety by the words: “If any Valuation Date is a Disrupted Day, in the case of an Index Basket Transaction, the Valuation Date for all the Indices shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day, unless each of the five Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In that case, (i) that fifth Scheduled Trading Day Date shall be deemed to be the Valuation Date for all the Indices, notwithstanding the fact that such day is a Disrupted Day, and (ii) the Calculation Agent shall determine its good faith estimate of the value of all the Indices as of the Valuation Time on that fifth Scheduled Trading Day.”