| Section {{eqderivprov|1.49}}. '''{{eqderivprov|Knock-out Determination Day}}'''. “'''{{eqderivprov|Knock-out Determination Day}}'''” means, in respect of a {{eqderivprov|Transaction}} for which a {{eqderivprov|Knock-out Event}} is [[specified as being applicable]], each {{eqderivprov|Scheduled Trading Day}} specified as such in the related {{eqderivprov|Confirmation}}, unless such day is a {{eqderivprov|Disrupted Day}} due to the occurrence of an event giving rise to a {{eqderivprov|Disrupted Day}} prior to the {{eqderivprov|Knock-out Valuation Time}} on such day. If such day is a {{eqderivprov|Disrupted Day}} due to the occurrence of such an event, then the {{eqderivprov|Knock-out Determination Day}} shall be the first succeeding {{eqderivprov|Scheduled Trading Day}} that is not a {{eqderivprov|Disrupted Day}}, unless each of the eight {{eqderivprov|Scheduled Trading Days}} immediately following the original date that, but for the occurrence of a {{eqderivprov|Disrupted Day}}, would have been the {{eqderivprov|Knock-out Determination Day}} is a {{eqderivprov|Disrupted Day}}. In that case, that eighth {{eqderivprov|Scheduled Trading Day}} shall be deemed to be the {{eqderivprov|Knock-out Determination Day}}, notwithstanding the fact that such day is a {{eqderivprov|Disrupted Day}}, and the {{eqderivprov|Calculation Agent}} shall determine the level, price or amount of the Knock-out Reference Security in the same manner that it would determine a level, price or amount of an {{eqderivprov|Index}}, Share or {{eqderivprov|Basket}} on a deemed {{eqderivprov|Valuation Date}} that is a {{eqderivprov|Disrupted Day}} in accordance with the provisions of Section {{eqderivprov|6.6}}({{eqderivprov|a}})({{eqderivprov|ii}}), (b) or (c), as the case may be. [[in that the event that]] the related {{eqderivprov|Confirmation}} does not specify any {{eqderivprov|Knock-out Determination Days}}, each {{eqderivprov|Scheduled Trading Day}} from and including the {{eqderivprov|Trade Date}} to and including the final {{eqderivprov|Valuation Date}}, the {{eqderivprov|Expiration Date}} or, if there is no such {{eqderivprov|Valuation Date}} or {{eqderivprov|Expiration Date}}, the date that is one {{eqderivprov|Settlement Cycle}} prior to the final {{eqderivprov|Settlement Date}} in relation to the {{eqderivprov|Transaction}} (adjusted, if applicable, as provided in {{eqderivprov|Sections 3.1}}({{eqderivprov|f}}) and {{eqderivprov|6.6}}) shall be deemed to be {{eqderivprov|Knock-out Determination Days}} in relation to the {{eqderivprov|Transaction}}. <br>
| | {{eqderivprov|1.49}}. “'''{{eqderivprov|Knock-out Determination Day}}'''” means each specified {{eqderivprov|Scheduled Trading Day}}, unless it is a {{eqderivprov|Disrupted Day}} due to an event occurring before the {{eqderivprov|Knock-out Valuation Time}}, in which case it will be the following undisrupted {{eqderivprov|Scheduled Trading Day}}, though if eight {{eqderivprov|Scheduled Trading Days}} in a row are {{eqderivprov|Disrupted Day}}s, the eighth one, even though a {{eqderivprov|Disrupted Day}}, will be the {{eqderivprov|Knock-out Determination Day}}. In this case the {{eqderivprov|Calculation Agent}} must determine the level of the {{eqderivprov|Knock-out Reference Security}} as if it were an {{eqderivprov|Underlier}} on a disrupted {{eqderivprov|Valuation Date}} using the method set out in Section {{eqderivprov|6.6}}. |
| | Unless otherwise specified the {{eqderivprov|Knock-out Determination Day}}s will be each {{eqderivprov|Scheduled Trading Day}} from and including the {{eqderivprov|Trade Date}} to and including the final {{eqderivprov|Valuation Date}}, the {{eqderivprov|Expiration Date}} or, if none, the date one {{eqderivprov|Settlement Cycle}} prior to the final {{eqderivprov|Settlement Date}} for the {{eqderivprov|Transaction}} (adjusted as necessary under Sections {{eqderivprov|3.1(f)}} and {{eqderivprov|6.6}}). <br> |