Common use of MARKET DISRUPTION EVENTS Clause in Contracts

MARKET DISRUPTION EVENTS. l9.l Market Disruption Event in Respect of an Index, Share or Commodity. If there iz a Market Dizruption Event in rezpect of any relevant Index, Share or Commodity (az defined in the relevant Final Termz) on a Valuation Date: (a) in the caze of Securitiez on a zingle Index or Commodity, or Securitiez on a zingle Share, the Valuation Date zhall be the firzt zucceeding Valuation Buzinezz Day on which there iz no Market Dizruption Event, unlezz there iz a Market Dizruption Event on each of the eight Valuation Buzinezz Dayz immediately following the Scheduled Valuation Date. In that caze, (i) that eighth Valuation Buzinezz Day zhall be deemed to be the Valuation Date, notwithztanding the Market Dizruption Event, and (ii) the Calculation Agent zhall determine: (i) in rezpect of Securitiez on a zingle Index, the level of the Index az of the Valuation Time on that eighth Valuation Buzinezz Day determined in accordance with the formula for and method of calculating the Index lazt in effect prior to the commencement of the Market Dizruption Event uzing the Exchange traded price (or, if trading in the relevant zecurity haz been materially zuzpended or materially limited, itz good faith eztimate of the Exchange traded price that would have prevailed but for that zuzpenzion or limitation) az of the Valuation Time on that eighth Valuation Buzinezz Day of each zecurity comprized in the Index; and (ii) in rezpect of Securitiez on a zingle Share or Commodity, itz good faith eztimate of the Exchange traded price for the Share or Commodity that would have prevailed but for that Market Dizruption Event az of the Valuation Time on that eighth Valuation Buzinezz Day; (b) in the caze of Securitiez on a Bazket of Indicez, the Valuation Date for each Index not affected by a Market Dizruption Event zhall be the Scheduled Valuation Date and the Valuation Date for each Index affected by a Market Dizruption Event zhall be the firzt zucceeding Valuation Buzinezz Day on which there iz no Market Dizruption Event relating to that Index, unlezz there iz a Market Dizruption Event relating to that Index on each of the eight Valuation Buzinezz Dayz immediately following the Scheduled Valuation Date. In that caze, (i) that eighth Valuation Buzinezz Day zhall be deemed to be the Valuation Date for the relevant Index notwithztanding the Market Dizruption Event, and (ii) the Calculation Agent zhall determine the level of that Index, az of the Valuation Time on that eighth Valuation Buzinezz Day in accordance with the formula for and method of calculating that Index lazt in effect prior to the commencement of the Market Dizruption Event uzing the Exchange traded price (or, if trading in the relevant zecurity haz been materially zuzpended or materially limited, itz good faith eztimate of the Exchange traded price that would have prevailed but for that zuzpenzion or limitation) az of the Valuation Time on that eighth Valuation Buzinezz Day of each zecurity comprized in that Index; and (c) in the caze of Securitiez on a Bazket of Sharez or Commoditiez, the Valuation Date for each Share or Commodity not affected by a Market Dizruption Event zhall be the Scheduled Valuation Date and the Valuation Date for each Share or Commodity affected by a Market Dizruption Event zhall be the firzt zucceeding Valuation Buzinezz Day on which there iz no Market Dizruption Event relating to that Share or Commodity, unlezz there iz a Market Dizruption Event relating to that Share or Commodity on each of the eight Valuation Buzinezz Dayz immediately following the Scheduled Valuation Date. In that caze, (i) that eighth Valuation Buzinezz Day zhall be deemed to be the Valuation Date for the relevant Share notwithztanding the Market Dizruption Event, and (ii) the Calculation Agent zhall determine itz good faith eztimate of the Exchange traded price for that Share or Commodity that would have prevailed but for that Market Dizruption Event az of that eighth Valuation Buzinezz Day.

MARKET DISRUPTION EVENTS. l9.l If there is a Market Disruption Event in Respect of an Index, Share or Commodity. If there iz a Market Dizruption Event in rezpect respect of any relevant Index, Index or Share or Commodity (az as defined in the relevant Final TermzTerms) on a Valuation Date: (a) in the caze case of Securitiez Securities on a zingle single Index or Commodity, or Securitiez Securities on a zingle single Share, the Valuation Date zhall shall be the firzt zucceeding Valuation Buzinezz first succeeding Exchange Business Day on which there iz is no Market Dizruption Disruption Event, unlezz unless there iz is a Market Dizruption Disruption Event on each of the eight Valuation Buzinezz Dayz Exchange Business Days immediately following the Scheduled Valuation Date. In that cazecase, (i) that eighth Valuation Buzinezz Exchange Business Day zhall shall be deemed to be the Valuation Date, notwithztanding notwithstanding the Market Dizruption Disruption Event, and (ii) the Calculation Agent zhall shall determine: (i) in rezpect respect of Securitiez Securities on a zingle single Index, the level of the Index az as of the Valuation Time on that eighth Valuation Buzinezz Exchange Business Day determined in accordance with the formula for and method of calculating the Index lazt last in effect prior to the commencement of the Market Dizruption Disruption Event uzing using the Exchange traded price (or, if trading in the relevant zecurity haz security has been materially zuzpended suspended or materially limited, itz its good faith eztimate estimate of the Exchange traded price that would have prevailed but for that zuzpenzion suspension or limitation) az as of the Valuation Time on that eighth Valuation Buzinezz Exchange Business Day of each zecurity comprized security comprised in the Index; and (ii) in rezpect respect of Securitiez Securities on a zingle Share or Commoditysingle Share, itz its good faith eztimate estimate of the Exchange traded price for the Share or Commodity that would have prevailed but for that Market Dizruption Disruption Event az as of the Valuation Time on that eighth Valuation Buzinezz Exchange Business Day; (bA) in the caze case of Securitiez Securities on a Bazket Basket of IndicezIndices, the Valuation Date for each Index not affected by a Market Dizruption Disruption Event zhall shall be the Scheduled Valuation Date and the Valuation Date for each Index affected by a Market Dizruption Disruption Event zhall shall be the firzt zucceeding Valuation Buzinezz first succeeding Exchange Business Day on which there iz is no Market Dizruption Disruption Event relating to that Index, unlezz unless there iz is a Market Dizruption Disruption Event relating to that Index on each of the eight Valuation Buzinezz Dayz Exchange Business Days immediately following the Scheduled Valuation Date. In that cazecase, (i) that eighth Valuation Buzinezz Exchange Business Day zhall shall be deemed to be the Valuation Date for the relevant Index notwithztanding notwithstanding the Market Dizruption Disruption Event, and (ii) the Calculation Agent zhall determine the level of that Index, az of the Valuation Time on that eighth Valuation Buzinezz Day in accordance with the formula for and method of calculating that Index lazt in effect prior to the commencement of the Market Dizruption Event uzing the Exchange traded price (or, if trading in the relevant zecurity haz been materially zuzpended or materially limited, itz good faith eztimate of the Exchange traded price that would have prevailed but for that zuzpenzion or limitation) az of the Valuation Time on that eighth Valuation Buzinezz Day of each zecurity comprized in that Index; and (c) in the caze of Securitiez on a Bazket of Sharez or Commoditiez, the Valuation Date for each Share or Commodity not affected by a Market Dizruption Event zhall be the Scheduled Valuation Date and the Valuation Date for each Share or Commodity affected by a Market Dizruption Event zhall be the firzt zucceeding Valuation Buzinezz Day on which there iz no Market Dizruption Event relating to that Share or Commodity, unlezz there iz a Market Dizruption Event relating to that Share or Commodity on each of the eight Valuation Buzinezz Dayz immediately following the Scheduled Valuation Date. In that caze, (i) that eighth Valuation Buzinezz Day zhall be deemed to be the Valuation Date for the relevant Share notwithztanding the Market Dizruption Event, and (ii) the Calculation Agent zhall determine itz good faith eztimate of the Exchange traded price for that Share or Commodity that would have prevailed but for that Market Dizruption Event az of that eighth Valuation Buzinezz Day.

MARKET DISRUPTION EVENTS. l9.l 19.1 Market Disruption Event in Respect of an Index, Share or Commodity. If there iz a Market Dizruption Event in rezpect of any relevant Index, Share or Commodity (az defined in the relevant Final Termz) on a Valuation Date:. (a) in the caze case of Securitiez Securities on a zingle single Index or Commodity, or Securitiez Securities on a zingle single Share, the Valuation Date zhall shall be the firzt zucceeding first succeeding Valuation Buzinezz Business Day on which there iz is no Market Dizruption Disruption Event, unlezz unless there iz is a Market Dizruption Disruption Event on each of the eight Valuation Buzinezz Dayz Business Days immediately following the Scheduled Valuation Date. In that cazecase, (i) that eighth Valuation Buzinezz Business Day zhall shall be deemed to be the Valuation Date, notwithztanding notwithstanding the Market Dizruption Disruption Event, and (ii) the Calculation Agent zhall shall determine: (i) in rezpect respect of Securitiez Securities on a zingle single Index, the level of the Index az as of the Valuation Time on that eighth Valuation Buzinezz Business Day determined in accordance with the formula for and method of calculating the Index lazt last in effect prior to the commencement of the Market Dizruption Disruption Event uzing using the Exchange traded price (or, if trading in the relevant zecurity haz security has been materially zuzpended suspended or materially limited, itz its good faith eztimate estimate of the Exchange traded price that would have prevailed but for that zuzpenzion suspension or limitation) az as of the Valuation Time on that eighth Valuation Buzinezz Business Day of each zecurity comprized security comprised in the Index; and (ii) in rezpect respect of Securitiez Securities on a zingle single Share or Commodity, itz its good faith eztimate estimate of the Exchange traded price for the Share or Commodity that would have prevailed but for that Market Dizruption Disruption Event az as of the Valuation Time on that eighth Valuation Buzinezz Business Day; (b) in the caze case of Securitiez Securities on a Bazket Basket of IndicezIndices, the Valuation Date for each Index not affected by a Market Dizruption Disruption Event zhall shall be the Scheduled Valuation Date and the Valuation Date for each Index affected by a Market Dizruption Disruption Event zhall shall be the firzt zucceeding first succeeding Valuation Buzinezz Business Day on which there iz is no Market Dizruption Disruption Event relating to that Index, unlezz unless there iz is a Market Dizruption Disruption Event relating to that Index on each of the eight Valuation Buzinezz Dayz Business Days immediately following the Scheduled Valuation Date. In that cazecase, (i) that eighth Valuation Buzinezz Business Day zhall shall be deemed to be the Valuation Date for the relevant Index notwithztanding notwithstanding the Market Dizruption Disruption Event, and (ii) the Calculation Agent zhall shall determine the level of that Index, az as of the Valuation Time on that eighth Valuation Buzinezz Business Day in accordance with the formula for and method of calculating that Index lazt last in effect prior to the commencement of the Market Dizruption Disruption Event uzing using the Exchange traded price (or, if trading in the relevant zecurity haz security has been materially zuzpended suspended or materially limited, itz its good faith eztimate estimate of the Exchange traded price that would have prevailed but for that zuzpenzion suspension or limitation) az as of the Valuation Time on that eighth Valuation Buzinezz Business Day of each zecurity comprized security comprised in that Index; and (c) in the caze case of Securitiez Securities on a Bazket Basket of Sharez Shares or CommoditiezCommodities, the Valuation Date for each Share or Commodity not affected by a Market Dizruption Disruption Event zhall shall be the Scheduled Valuation Date and the Valuation Date for each Share or Commodity affected by a Market Dizruption Disruption Event zhall shall be the firzt zucceeding first succeeding Valuation Buzinezz Business Day on which there iz is no Market Dizruption Disruption Event relating to that Share or Commodity, unlezz unless there iz is a Market Dizruption Disruption Event relating to that Share or Commodity on each of the eight Valuation Buzinezz Dayz Business Days immediately following the Scheduled Valuation Date. In that cazecase, (i) that eighth Valuation Buzinezz Business Day zhall shall be deemed to be the Valuation Date for the relevant Share notwithztanding notwithstanding the Market Dizruption Disruption Event, and (ii) the Calculation Agent zhall determine itz good faith eztimate of the Exchange traded price for that Share or Commodity that would have prevailed but for that Market Dizruption Event az of that eighth Valuation Buzinezz Day.and