Modified Postponement definition

Modified Postponement means that where the official closing level of an Index is not available on an any relevant day for any reason, the Issuer, acting in good faith and in a commercially reasonable manner, will determine the closing level of such Index by inter alia reference to any determination made by the Issuer’s hedging counterparty in respect of any local or global hedge position in connection with this leg of the Note that the Issuer may have entered into or, if that cannot be obtained, the official closing level available on any following or preceding day, as applicable, which the Issuer determines to be commercially reasonable under the relevant circumstances.
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Modified Postponement then: (a) where the Notes are specified in the applicable Final Terms to relate to a single Share, the Averaging Reference Date shall be the first succeeding Valid Date. If the first succeeding Valid Date has not occurred as of the Valuation Time on the date which falls the number of consecutive Scheduled Trading Days equal in number to the Maximum Days of Disruption immediately following the original date that, but for the occurrence of another Averaging Reference Date or Disrupted Day, would have been the final Averaging Reference Date, then (I) that last consecutive Scheduled Trading Day shall be deemed the Averaging Reference Date (irrespective of whether that last consecutive Scheduled Trading Day is already an Averaging Reference Date), and (II) the Calculation Agent shall determine the Share Price at the Valuation Time for that Averaging Reference Date in accordance with paragraph 1.1(i)(b) of these Share Linked Conditions (as if such Averaging Reference Date were a Reference Date); and (b) where the Notes are specified in the applicable Final Terms to relate to a Share Basket, (I) the Averaging Reference Date for each Share not affected by the occurrence of a Disrupted Day shall be the relevant Averaging Reference Date, and (II) the Averaging Reference Date for a Share affected by the occurrence of a Disrupted Day shall be the first succeeding Valid Date in relation to such Share. If the first succeeding Valid Date has not occurred as of the Valuation Time on the date which falls the number of consecutive Scheduled Trading Days equal in number to the Maximum Days of Disruption immediately following the original date that, but for the occurrence of another Averaging Reference Date or Disrupted Day, would have been the final Averaging Reference Date, then (y) that last consecutive Scheduled Trading Day shall be deemed the Averaging Reference Date (irrespective of whether that last consecutive Scheduled Trading Day is already an Averaging Reference Date) in respect of such Share, and (z) the Calculation Agent shall determine the Share Price at the Valuation Time for that Averaging Reference Date in accordance with paragraph 1.1(i)(b) of these Share Linked Conditions, which shall apply mutatis mutandis as if such Averaging Reference Date were a Reference Date.
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Modified Postponement means that in respect of any Exchange Business Day which is a Disrupted Day, the applicable Final Index Valuation Date will be the first succeeding Valid Date. If the first succeeding Valid Date has not occurred before or on the eighth Scheduled Trading Day immediately following the original date, then that eighth Scheduled Trading Day will be deemed to be the Final Index Valuation Date and the Calculation Agent will determine the level of the Index for that Final Index Valuation Date (i.e. that eighth Scheduled Trading Day) in a commercially reasonable manner. For purposes hereof, a “Valid Date” means a Scheduled Trading Day that is not a Disrupted Day and the Index Valuation Date does not or is not deemed to occur.“Exchange Business Day” means a Scheduled Trading Dayon which:(a) the Index Sponsor actually publishes the closing level of the Index; and(b) each Index Component Exchange, as the case may be, is actually open for trading during its regular trading session, notwithstanding the relevant Index Component Exchange, as the case may be, closing prior to its Scheduled Closing Time;“Scheduled Trading Day” means any day on which:(a) the Index Sponsor is scheduled to publish the closing level of the Index; and(b) each Index Component Exchange, as the case may be, is scheduled to be open for trading during its regular trading session.“Scheduled Closing Time” means, in respect of an Index Component Exchange and an Exchange Business Day, the scheduled weekday closing time of such Index Component Exchange on such Exchange Business Day, without regard to after hours or any other trading outside of the regular trading session hours.“Index Sponsor” means Morgan Stanley Capital International Inc. or the corporation or other entity that:(a) is responsible for setting and reviewing the rules and procedures and the methods of calculation and adjustments, if any, related to the Index; and(b) announces (directly or through an agent) the level of the Index on a regular basis during each Exchange Business Day.
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Examples of Modified Postponement in a sentence

  • If Averaging is specified as applying in the applicable Final Terms the applicable Final Terms will state the relevant Averaging Dates and, if an Averaging Date is a Disrupted Day, whether Omission, Postponement or Modified Postponement (each as defined in Condition 4 below) applies.

  • In the event that an Averaging Date is a Disrupted Day Modified Postponement (as defined in Condition 28) will apply.

  • Averaging Date Market Disruption: Modified Postponement Relevant Price: The last reported sale price (if the Exchange is The NASDAQ Stock Market) or closing price (if the Exchange is other than The NASDAQ Stock Market) per Share at the Valuation Time on an Averaging Date, as reported by the Exchange.

  • If Averaging is specified as applying in the applicable Pricing Supplement the applicable Pricing Supplement will state the relevant Averaging Dates and, in the case of a Market Disruption Event (as defined in Condition 17) occurring on an Averaging Date, whether Omission, Postponement or Modified Postponement (each as defined in Condition 3 below) applies.

  • Modified Postponement Change in Law, Hedging Disruption and Increased Cost of Hedging.

  • In the Event that an Averaging Date is a Disrupted Day Modified Postponement (as defined in Condition 28) will apply.

  • If Averaging is specified as applying in the applicable Pricing Supplement the applicable Pricing Supplement will state the relevant Averaging Dates and, if an Averaging Date is a Disrupted Day, whether Omission, Postponement or Modified Postponement (each as defined in Condition 4 below) applies.

  • Averaging Date Market Disruption: Modified Postponement Expiration Date: March 6, 2003 or as adjusted per the Equity Definitions.

  • If Averaging is specified as applying in the applicable Final Terms, the applicable Final Terms will state the relevant Averaging Dates and, if an Averaging Date is a Disrupted Day, whether Omission, Postponement or Modified Postponement (each as defined in Condition 3 below) applies.

  • If Averaging is specified as applying in the applicable Final Terms, the applicable Final Terms will state the relevant Averaging Dates and, if an Averaging Date is a Disrupted Day, whether Omission, Postponement or Modified Postponement (each as defined in Condition 4 below) applies.


More Definitions of Modified Postponement

Modified Postponement then the Averaging Reference Date for each Basket Index shall be the first succeeding Basket Valid Date in relation to each such Basket Index. If the first succeeding Basket Valid Date in relation to each such Basket Index has not occurred as of the Valuation Time on the date which falls the number of consecutive Common Scheduled Trading Days equal in number to the Maximum Days of Disruption immediately following the original date that, but for the occurrence of another Averaging Reference Date or Disrupted Day, would have been the final Averaging Reference Date, then (a) that last consecutive Common Scheduled Trading Day shall be deemed the Averaging Reference Date (irrespective of whether that last consecutive Common Scheduled Trading Day is already an Averaging Reference Date) for all Basket Indices, and (b) the Calculation Agent shall determine the Index Level of each Basket Index at the Valuation Time for that Averaging Reference Date in accordance with paragraph 10.2(ii) and (iii) of these Index Linked Conditions, which shall apply mutatis mutandis as if such Averaging Reference Date were a Reference Date.
Sample 1
Modified Postponement. The provisions regarding “Postponement” shall apply subject to the following proviso: The Average Value Determination Date affected by the market disruption shall be postponed to the first Scheduled Trading Day after the end of the market disruption which is not an Average Value Determination Date or deemed to be such day. In the event the market disruption persists for more than eight consecutive Scheduled Trading Days, counting from and excluding the last originally agreed Average Value Determination Date, the eighth Scheduled Trading Day after the originally agreed last Average Value Determination Date shall be deemed to be the Average Value Determination Date. The Calculation Agent will determine the value of the security at the Valuation Time on this eighth Scheduled Trading Day.
Sample 1
Modified Postponement means, in relation to any Initial Averaging Date that is a Disrupted Day, the first succeeding Scheduled Trading Day that is not a Disrupted Day pursuant to Condition 7 and on which another Initial Averaging Date does not or is deemed not to occur (a “Valid Day”). If the first such succeeding Valid Day has not occurred as of the Valuation Time on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another Initial Averaging Date or Disrupted Day, would have been the final Initial Averaging Date, then (1) that eighth Scheduled Trading Day shall be deemed the Initial Averaging Date (irrespective of whether that eighth Scheduled Trading Day is already an Initial Averaging Date), and (2) the Independent Adviser shall determine its good faith estimate of the value of the Share(s) at the Valuation Time on such eighth Scheduled Trading Day.
Sample 1
Modified Postponement then the Averaging Reference Date for each Basket Share shall be the first succeeding Basket Valid Date in relation to such Basket Shares. If the first succeeding Basket Valid Date in relation to such Basket Shares has not occurred as of the Valuation Time on the consecutive Common Scheduled Trading Days equal in number to the Maximum Days of Disruption immediately following the original date that, but for the occurrence of another Averaging Reference Date or Disrupted Day, would have been the final Averaging Reference Date, then (a) that last consecutive Common Scheduled Trading Day shall be deemed the Averaging Reference Date (irrespective of whether that last consecutive Common Scheduled Trading Day is already an Averaging Reference Date) for all Basket Shares, and (b) the Calculation Agent shall determine the Share Price of each Basket Share at the Valuation Time for that Averaging Reference Date in accordance with paragraph 9.2(ii) and (iii) of these Share Linked Conditions (as if such Averaging Reference Date were a Reference Date).
Sample 1
Modified Postponement then: (A) in the case of a Single Index Note, a Single Share Note or a Single ETF Note, the Averaging Date shall be the first succeeding Valid Date. If the first succeeding Valid Date has not occurred as of the Determination Time on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another Averaging Date or Disrupted Day, would have been the final Averaging Date in relation to the relevant Scheduled Valuation Date, then (A) that eighth Scheduled Trading Day shall be deemed to be the Averaging Date (irrespective of whether that eighth Scheduled Trading Day is already an Averaging Date), and (B) the Determination Agent shall determine, in its sole and absolute discretion, the relevant level or price for that Averaging Date in accordance with (x) in the case of a Single Index Note, Condition 10.1(a)(i)(A) and (y) in the case of a Single Share Note or a Single ETF Note, Condition 10.1(a)(i)(B); (B) in the case of an Index Basket Note, a Share Basket Note or an ETF Basket Note, the Averaging Date for each Index, Share or ETF Interest (as the case may be) not affected by the occurrence of a Disrupted Day shall be the date specified in the applicable Pricing Supplement as an Averaging Date in relation to the relevant Valuation Date, and the Averaging Date for an Index, Share or ETF Interest (as the case may be) affected by the occurrence of a Disrupted Day shall be the first succeeding Valid Date in relation to such Index, Share or ETF Interest (as the case may be). If the first succeeding Valid Date in relation to such Index, Share or ETF Interest (as the case may be) has not occurred as of the Determination Time on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another Averaging Date or Disrupted Day, would have been the final Averaging Date in relation to the relevant Scheduled Valuation Date, then (A) that eighth Scheduled Trading Day shall be deemed to be the Averaging Date (irrespective of whether that eighth Scheduled Trading Day is already an Averaging Date) in relation to such Index, Share or ETF Interest (as the case may be), and (B) the Determination Agent shall determine, in its sole and absolute discretion, the relevant level or amount for that Averaging Date in accordance with (x) in the case of an Index Basket Note, Condition 10.1(a)(ii) and (y) in the case of a Share Basket Note or an ETF Basket Note, Condition 10.1(a)(iii); and
Sample 1

Related to Modified Postponement

  • Postponement with three (3) Commodity Business Days as the Maximum Days of Disruption;

  • Monitoring Period means the period from the Launch Date to the Valuation Date (both dates including) at such point in time at which the Reference Price of the Underlying is determined and published..

  • Elimination Period means the period of 6 months beginning on the date You become Disabled.

  • Subsequent Transfer Date With respect to each Subsequent Transfer Instrument, the date on which the related Subsequent Mortgage Loans are sold to the Trust Fund.

  • Notification Date means 30 days from an Account statement date (see section 6.3).

  • Interest Commencement Date means the Issue Date or such other date as may be specified in the relevant Final Terms.

  • Commencement Date of the Contract means the date of signing of the Contract between the Purchaser and the Contractor.

  • Provisional ballot means a ballot voted provisionally by a person:

  • Concurrent enrollment means the simultaneous enrollment of a qualified student in a district high school and in one or more postsecondary courses at an institution of higher education. Concurrent enrollment does not include a student’s simultaneous enrollment in: a district high school and in one or more secondary career and technical education courses, advanced placement courses, or international baccalaureate courses; an early college course and a postsecondary course; a p-tech school and a postsecondary course; or a district high school and a postsecondary course that does not fall within the definition of concurrent enrollment.

  • Notification Period means a set period of time between the submittal of a Notice of Intent and the beginning of lead - based paint abatement activities (including all on-site worksite preparation).

  • Holding Period means, with respect to a Hold-the-Offering-Price Maturity, the period starting on the Sale Date and ending on the earlier of (i) the close of the fifth business day after the Sale Date ( ), or (ii) the date on which the Underwriter has sold at least 10% of such Hold-the-Offering-Price Maturity to the Public at prices that are no higher than the Initial Offering Price for such Hold-the-Offering-Price Maturity.

  • Provisional Suspension means the Athlete or other Person is barred temporarily from participating in any Competition or activity prior to the final decision at a hearing conducted under Article 8;

  • Subsequent Reset Period means the period from (and including) the Second Reset Date to (but excluding) the next Subsequent Reset Date, and each successive period from (and including) a Subsequent Reset Date to (but excluding) the next succeeding Subsequent Reset Date; and