Common use of Payment Disruption Event Clause in Contracts

Payment Disruption Event. If the Calculation Agent shall, at any time and from time to time, determine that an event beyond the control of the Hedging Entity (a "Payment Disruption Event") has occurred or will occur as a result of which the Hedging Entity is not able or would not be able to sell or otherwise realise all or any part of the Reference Assets held by the Hedging Entity to hedge the relevant Issuer's obligations in respect of the Securities prior to or on any date on which payments in respect of such Securities shall fall due, then the Calculation Agent shall as soon as practicable notify the Holders of the relevant Securities of the occurrence of a Payment Disruption Event in accordance with Condition 22 whereupon the provisions of Condition 21.2 shall become applicable. Without prejudice to the generality of the foregoing, each of the following events shall constitute a Payment Disruption Event:

Appears in 12 contracts

Samples: www.borsaitaliana.it, www.borsaitaliana.it, www.borsaitaliana.it