MARKET DISRUPTION EVENTS. If there is a Market Disruption Event in respect of any relevant Index or Share (as defined in the relevant Terms) on a Valuation Date: (a) in the case of Securities on a single Index or Securities on a single Share, the Valuation Date shall be the first succeeding Exchange Business Day on which there is no Market Disruption Event, unless there is a Market Disruption Event on each of the eight Exchange Business Days immediately following the Scheduled Valuation Date. In that case, (i) that eighth Exchange Business Day shall be deemed to be the Valuation Date, notwithstanding the Market Disruption Event, and (ii) the Calculation Agent shall determine: (i) in respect of Securities on a single Index, the level of the Index as of the Valuation Time on that eighth Exchange Business Day determined in accordance with the formula for and method of calculating the Index last in effect prior to the commencement of the Market Disruption Event using the Exchange traded price (or, if trading in the relevant security has been materially suspended or materially limited, its good faith estimate of the Exchange traded price that would have prevailed but for that suspension or limitation) as of the Valuation Time on that eighth Exchange Business Day of each security comprised in the Index; and
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Samples: Covered Warrant Negotiation Announcement, Covered Warrant Negotiation, Covered Warrant Agreement
