Template:2002 ISDA Equity Derivatives Definitions 6.4: Difference between revisions
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Section {{eqderivprov|6.4}}. '''{{eqderivprov|Disrupted Day}}'''. | Section {{eqderivprov|6.4}}. '''{{eqderivprov|Disrupted Day}}'''. “'''Disrupted Day'''” means any {{eqderivprov|Scheduled Trading Day}} on which a <br>relevant {{eqderivprov|Exchange}} or any {{eqderivprov|Related Exchange}} fails to open for trading during its regular trading session or <br>on which a {{eqderivprov|Market Disruption Event}} has occurred. The {{isdaprov|Calculation Agent}} shall as soon as reasonably <br>practicable under the circumstances notify the parties or other party, as the case may be, of the <br>occurrence of a {{eqderivprov|Disrupted Day}} on any day that, but for the occurrence of a {{eqderivprov|Disrupted Day}}, would have <br>been an {{eqderivprov|Averaging Date}}, a {{eqderivprov|Valuation Date}}, a {{eqderivprov|Potential Exercise Date}}, a {{eqderivprov|Knock-in Determination Day}}, a <br>{{eqderivprov|Knock-out Determination Day}} or an Expiration {{eqderivprov|Date}}. Without limiting the obligation of the Calculation <br>Agent to notify the parties as set forth in the preceding sentence, failure by the {{eqderivprov|Calculation Agent}} to <br>notify the parties of the occurrence of a {{eqderivprov|Disrupted Day}} shall not affect the validity of the occurrence and <br>effect of such {{eqderivprov|Disrupted Day}} on any {{isdaprov|Transaction}}.<br> | ||
Revision as of 02:21, 17 September 2016
Section 6.4. Disrupted Day. “Disrupted Day” means any Scheduled Trading Day on which a
relevant Exchange or any Related Exchange fails to open for trading during its regular trading session or
on which a Market Disruption Event has occurred. The Calculation Agent shall as soon as reasonably
practicable under the circumstances notify the parties or other party, as the case may be, of the
occurrence of a Disrupted Day on any day that, but for the occurrence of a Disrupted Day, would have
been an Averaging Date, a Valuation Date, a Potential Exercise Date, a Knock-in Determination Day, a
Knock-out Determination Day or an Expiration Date. Without limiting the obligation of the Calculation
Agent to notify the parties as set forth in the preceding sentence, failure by the Calculation Agent to
notify the parties of the occurrence of a Disrupted Day shall not affect the validity of the occurrence and
effect of such Disrupted Day on any Transaction.