Default Valuation Time definition

Default Valuation Time means the end of the Default Valuation Period. Where the amount of any Securities sold as mentioned in (i)(A) above is not identical to that of the Securities to be valued for the purposes of this definition, the Default Market Value of those Securities shall be ascertained by dividing the net proceeds of sale by the amount of the Securities sold so as to obtain a net unit price and multiplying that net unit price by the amount of the Securities to be valued.

Default Valuation Time means for the purposes of the definition of Default Market Value, the close of

Default Valuation Time means, in relation to an Event of Default, the close of business in the Appropriate Market on the fifth dealing day after the day on which that Event of Default occurs or, where that Event of Default is the occurrence of an Act of Insolvency in respect of which under paragraph 10(a) no notice is required from the non-Defaulting Party in order for such event to constitute an Event of Default, the close of business on the fifth dealing day after the day on which the non-Defaulting Party first became aware of the occurrence of such Event of Default;

Examples of Default Valuation Time in a sentence

• RBI did not serve a Default Valuation Notice within the five day window prior to the Default Valuation Time, in which case paragraph 10(e)(ii) of the GMRA applied (the proviso at the end – around the non-Defaulting Party being able to postpone the Default Valuation Time – did not).

• This is subject to the non-Defaulting Party being able to postpone the Default Valuation Time for this purpose where it reasonably determines that owing to circumstances affecting the market it is not possible for it to determine a Net Value which is commercially reasonable at that time.

• Where a Default Valuation Notice has not been served by the non-Defaulting Party on the Defaulting Party by the Default Valuation Time, then paragraph 10(e)(ii) of the GMRA provides that the Default Market Value of Equivalent Securities will be “an amount equal to their Net Value at the Default Valuation Time”.

• The result will vary depending on whether a Default Valuation Notice has been served by the non-Defaulting Party on the Defaulting Party by the end of the fifth dealing day after the date of the Event of Default (i.e. the Default Valuation Time, which in this case was 15 October 2008).

• Index Linked Instruments: Applicable.(i) Single Index, Index Multi-Asset Basket:BasketorSingle Index.(ii) Name of Index(ices): FTSE MIB Index (Bloomberg: FTSEMIB <Index>; Reuters:.FTMIB; ISIN: IT0003465736) (the "Index").(iii) Type of Index: Unitary Index.(iv) Exchange(s): As specified in Index Linked Condition 7.(v) Related Exchange(s): All Exchanges.(vi) Options Exchange: Not Applicable.(vii) Index Sponsor: FTSE International Limited.(viii) Valuation Time: Default Valuation Time.

More Definitions of Default Valuation Time

Default Valuation Time the meaning specified in paragraph 10;

Default Valuation Time means, with respect to any Securities

Default Valuation Time means for the purposes of the definition of Default Market Value, the close of business in the Appropriate Market on the twentieth (20th) dealing day after the day on which the Default Event occurs

Default Valuation Time means, in relation to an Event of Default, the close of business in the Appropriate Market on the fifth dealing day after the day on which that Event of Default occurs or, where that Event of Default is the occurrence of an Act of Insolvency in respect of which under paragraph 0 no notice is required from the Non-Defaulting Party in order for such event to constitute an Event of Default, the close of business on the fifth dealing day after the day on which the Non-Defaulting Party first became aware of the occurrence of such Event of Default;

Default Valuation Time means the close of business in the Appropriate Market on the fifth dealing day after the day on which the Termination Date falls.

Default Valuation Time means, in relation to an Event of Default, the close of business in the Appropriate Market on the fifth dealing day after the day on which that Event of Default occurs or, where that Event of Default is the occurrence of an Act of Insolvency in respect of which under paragraph 10(a) no notice is required from the non-Defaulting Party in order for such event to constitute an Event of Default, the close of business on the fifth dealing day after the day on which the non-Defaulting Party first became aware of the occurrence of such Event of Default; Waktu Penilaian Kegagalan” berarti, sehubungan dengan suatu Peristiwa Kegagalan, pada saat penutupan hari kerja dari Pasar Yang Sesuai pada hari perdagangan kelima setelah hari terjadinya Peristiwa Kegagalan atau, apabila Peristiwa Kegagalan tersebut disebabkan karena terjadinya Keadaan Insolvensi yang menurut paragraf 10(a) tidak memerlukan pemberitahuan dari Pihak Yang Tidak Gagaluntuk menetapkan agar peristiwa tersebut merupakan Peristiwa Kegagalan, pada saat penutupan hari kerja pada hari perdagangan kelima setelah hari dimana Pihak Yang Tidak Gagal pertama kali mengetahui mengenai terjadinya Peristiwa Kegagalan tersebut;

Default Valuation Time means, in relation to an Event of Default, the close of business in the applicable market on the 40th dealing day after the day on which that Event of Default occurs or, where that Event of Default is the occurrence of an Act of Insolvency in respect of which under paragraph 10(a) no notice is required from the non-Defaulting Party in order for such event to constitute an Event of Default, the close of business on the 40th dealing day after the day on which the non-Defaulting Party first became aware of the occurrence of such Event of Default. For the avoidance of doubt, the amount payable pursuant to Paragraph 10(c) of the Agreement cannot be calculated until the Default Market Values of all of the Equivalent Securities and any Equivalent Margin Securities under each Transaction can be calculated. As such, the payment under paragraph 10(c)(ii) will be delayed until the latest date on which the Default Market Value has been determined with respect to any such Equivalent Securities and any Equivalent Margin Securities. The parties acknowledge that (a) the Purchased Securities under this Transaction are expected to be illiquid and unique and that there may be no other commercially reasonable determinant of value with respect to such Purchased Securities other than the price at which willing buyers agree to purchase such Purchased Securities or the relevant Portfolio Assets, (b) if the Buyer were forced to liquidate such Purchased Securities or the relevant Portfolio Assets on the date an Event of Default occurs (or shortly thereafter), such liquidation would likely result in a commercially unreasonable price, and (c) giving the Buyer an extended period of time to liquidate such Purchased Securities or the relevant Portfolio Assets is more likely to produce a commercially reasonable result. For avoidance of doubt, Buyer may, at any time, use any commercially reasonable determinant of value (whether the price at which willing buyers agree to purchase such Purchased Securities or the relevant Portfolio Assets or otherwise).