Average Closing Index Level definition

Average Closing Index Level means the arithmetic average of the Closing Levels of the Index for each of the 60 months after September 2002, starting with and including October 2002 and ending with and including September 2007.
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Average Closing Index Level means the arithmetic average of the Closing Levels of the Index on the 29th day of each of the 72 months (unless the month only has 28 days, in which case it will be the 28th day of that month) after July 2002, starting from and including August 29, 2002 and ending at and including July 29, 2008; provided, that if any such day is not a Business Day, the Closing Level of the next following Business Day will be used; provided further, that if a Market Disruption Event occurs on any such date, the Calculation Agent will determine the Closing Level for such date by reference to the Closing Level on the next following Business Day on which no Market Disruption Event occurs.
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Average Closing Index Level means the arithmetic average of the Closing Levels of the Index on the 27th day of each of the 36 months after April 2002, starting from and including May 27, 2002 and ending at and including April 27, 2005; provided, that if any such day is not a Business Day, the Closing Level of the next following Business Day will be used; provided further, that if a Market Disruption Event occurs on any such date, the Calculation Agent will determine the Closing Level for such date by reference to the Closing Level on the next following Business Day on which no Market Disruption Event occurs.
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Examples of Average Closing Index Level in a sentence

  • The Calculation Agent shall also be responsible for (a) the determination of the Maturity Payment Amount, (b) the determination of whether adjustments to the Closing Level of the Index should be made, (c) the determination of the Average Closing Index Level, (d) the determination of the Equity Bonus, (e) the determination of the Successor Index if publication of the Index is discontinued and (f) the determination of whether a Market Disruption Event has occurred.

  • The Calculation Agent shall determine (i) the Average Closing Index Level, (ii) the Equity Bonus and (iii) the amount payable at Stated Maturity for each $1,000 principal amount of Securities (the "Maturity Payment Amount").


More Definitions of Average Closing Index Level

Average Closing Index Level means, except as set forth in the next sentence, the arithmetic average of the Closing Levels of the S&P 500 Index on the last Trading Day of each of the 60 months after December 2002, starting from and including January 2003 and ending at and including December 2007. If the Calculation Agent determines that one or more Market Disruption Events have occurred on any of these dates, the Calculation Agent will determine the Closing Level for such date by reference to the Closing Level of the S&P 500 Index on the next Trading Day on which there is not a Market Disruption Event; provided, however, that if a Market Disruption Event occurs on the last Trading Day of December 2007 and the next Trading Day on which there is not a Market Disruption Event has not occurred on or prior to January 3, 2008, the Calculation Agent will determine the Average Closing Index Level without including a Closing Level for December 2007 and the Average Closing Index Level will be based on the Closing Levels on 59 monthly dates.
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Average Closing Index Level means the arithmetic average of the Closing Index Level on five annual dates, which shall be February of each year, from and including February 4, 2006 to and including the Valuation Date; provided that if the Calculation Agent determines pursuant to the Calculation Agency Agreement that one or more Market Disruption Events have occurred on one of these dates, the Calculation Agent will determine the Closing Index Level for such date by reference to the Closing Index Level on the next Exchange Business Day on which there is not a Market Disruption Event; provided, however, if a Market Disruption Event occurs on each of the eight Exchange Business Days following the originally scheduled Valuation Date, then (a) that eighth Exchange Business Day shall be deemed the Valuation Date and (b) the Calculation Agent shall determine the Closing Index Level based upon its good faith estimate of the value of the Index on that eighth Exchange Business Day.
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Average Closing Index Level means the arithmetic average of the Closing Index Level on five annual dates, which shall be February of each year, from and including February 4, 2006 to and including the Valuation Date; provided that if the Calculation Agent determines that one or more Market Disruption Events have occurred on one of these dates, the Calculation Agent will determine the Closing Index Level for such date by reference to the Closing Index Level on the next Exchange Business Day on which there is not a Market Disruption Event; provided, however, if a Market Disruption Event occurs on each of the eight Exchange Business Days following the originally scheduled Valuation Date, then (a) that eighth Exchange Business Day shall be deemed the Valuation Date and (b) the Calculation Agent shall determine the Closing Index Level based upon its good faith estimate of the value of the Index on that eighth Exchange Business Day.
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Related to Average Closing Index Level

  • Average Closing Price means the average of the closing market prices of a Share over the last five (5) Market Days on which transactions in the Shares were recorded on the SGX-ST immediately preceding the date of the Market Purchase by the Company or, as the case may be, the date of the making of the offer pursuant to the Off-Market Purchase, and deemed to be adjusted for any corporate action that occurs after the relevant five-day period; and

  • Closing Level : means the official daily Closing Level of the Index as published by the Index Sponsor in relation to each Scheduled Trading Day during the Investment Term.

  • Index Level means, in respect of any day and subject to Adjustment Provisions: (a) in respect of an Index (other than a Multiple Exchange Index), the closing level of such Index at the Valuation Time on such day; and (b) in respect of an Index that is a Multiple Exchange Index, the official closing level of the Index on such day at the Valuation Time as calculated and published by the Index Sponsor each as rounded up to four decimal places (with 0.00005 being rounded up), all as determined by the Calculation Agent.

  • Index Value means, in relation to any Reference Rate Business Day:

  • Final Index Level : means the Closing Level of the FTSE 100 Index on the Investment End Date.

  • Average value means the value which best represents the amount of the nutrient which a given food contains, and reflects allowances for seasonal variability, patterns of consumption and other factors which may cause the actual value to vary.

  • Closing Average Share Value means the average, over the trading days in the Closing Average Period, of the closing price of the company’s stock multiplied by the Accumulated Shares for each trading day during the Closing Average Period.

  • Pricing Level refers to the determination of which of Level I, Level II, Level III, Level IV, Level V or Level VI applies at any date.

  • Pricing Level V any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB‑ or higher or (y) Xxxxx’x is Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.

  • Average VWAP means the average of the VWAP for each Trading Day in the relevant period.

  • Index Price on a given date means the weighted average (weighted in accordance with the factors listed above) of the closing prices of the companies comprising the Index Group.

  • Opening Average Share Value means the average, over the trading days in the Opening Average Period, of the closing price of a company’s stock multiplied by the Accumulated Shares for each trading day during the Opening Average Period.

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • Weighted Average Price means, for any security as of any date, the dollar volume-weighted average price for such security on the Principal Market during the period beginning at 9:30:01 a.m., New York time (or such other time as the Principal Market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as the Principal Market publicly announces is the official close of trading), as reported by Bloomberg through its “Volume at Price” function or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time (or such other time as such market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as such market publicly announces is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported on the Pink Open Market. If the Weighted Average Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Weighted Average Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved pursuant to Section 12 with the term “Weighted Average Price” being substituted for the term “Exercise Price.” All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or other similar transaction during the applicable calculation period.

  • Initial Index Level means the closing level of the FTSE 100 on the Start Date.

  • Average Stock Price means the average of the closing prices of a Share, as reported on NASDAQ (or such other stock exchange as is applicable), for the forty-five (45) trading day period immediately preceding the date for which the Average Stock Price is being determined hereunder.

  • Fully Diluted Weighted Average Basis means, when calculating the number of Outstanding Units for any period, a basis that includes (a) the weighted average number of Outstanding Units during such period plus (b) all Partnership Interests and Derivative Partnership Interests (i) that are convertible into or exercisable or exchangeable for Units or for which Units are issuable, in each case that are senior to or pari passu with the Subordinated Units, (ii) whose conversion, exercise or exchange price, if any, is less than the Current Market Price on the date of such calculation, (iii) that may be converted into or exercised or exchanged for such Units prior to or during the Quarter immediately following the end of the period for which the calculation is being made without the satisfaction of any contingency beyond the control of the holder other than the payment of consideration and the compliance with administrative mechanics applicable to such conversion, exercise or exchange and (iv) that were not converted into or exercised or exchanged for such Units during the period for which the calculation is being made; provided, however, that for purposes of determining the number of Outstanding Units on a Fully Diluted Weighted Average Basis when calculating whether the Subordination Period has ended or Subordinated Units are entitled to convert into Common Units pursuant to Section 5.7, such Partnership Interests and Derivative Partnership Interests shall be deemed to have been Outstanding Units only for the four Quarters that comprise the last four Quarters of the measurement period; provided, further, that if consideration will be paid to any Group Member in connection with such conversion, exercise or exchange, the number of Units to be included in such calculation shall be that number equal to the difference between (x) the number of Units issuable upon such conversion, exercise or exchange and (y) the number of Units that such consideration would purchase at the Current Market Price.

  • Pricing Level I shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is greater than or equal to 3.50 to 1.00.

  • Final Index Price means the average of the Index Prices for the 20 consecutive full trading days ending on the trading day prior to the Determination Date.

  • Pricing Level IV means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BBB- or higher by S&P or Baa3 or higher by Moody’s and (iii) Pricing Levels I, II and III do not apply.

  • Leverage Factor means the leverage factor in respect of a Series of ETP Securities as specified in the relevant Final Terms.

  • Applicable Pricing Level means, (a) for the Initial Pricing Period, Pricing Level II, and (b) thereafter, the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: I Greater than or equal to Aa3 / AA- II Less than Aa3 / AA- but greater than or equal to A1/A+ III Less than A1/A+ but greater than or equal to A2/A IV Less than A2/A but greater than or equal to A3/A- V Less than A3/A- provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Average Sale Price means the average of the Sale Prices of the Common Stock for the shorter of

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Initial Level means, in respect of an Index, the level specified as such in the applicable Issue Terms.