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- 6.7(c)(iii) "Modified Postponement”, then:
- (A) in the case of an Index Transaction or a Share Transaction, the
Averaging Date shall be the first succeeding Valid Date. If the first succeeding Valid
Date has not occurred as of the Valuation Time on the eighth Scheduled Trading Day
immediately following the original date that, but for the occurrence of another Averaging
Date or Disrupted Day, would have been the final Averaging Date in respect of the
relevant Scheduled Valuation Date, then (1) that eighth Scheduled Trading Day shall be
deemed the Averaging Date (irrespective of whether that eighth Scheduled Trading Day
is already an Averaging Date), and (2) the Calculation Agent shall determine the relevant
level or price for that Averaging Date in accordance with Section 6.6;
- (B) in the case of an Index Basket Transaction or a Share Basket
Transaction, the Averaging Date for each Index or Share not affected by the occurrence
of a Disrupted Day shall be the date specified in the Confirmation as an Averaging Date
in respect of the relevant Valuation Date and the Averaging Date for an Index or Share
affected by the occurrence of a Disrupted Day shall be the first succeeding Valid Date in
relation to such Index or Share. If the first succeeding Valid Date in respect of such
Index or Share has not occurred as of the Valuation Time on the eighth Scheduled
Trading Day immediately following the original date that, but for the occurrence of
another Averaging Date or Disrupted Day, would have been the final Averaging Date in
relation to the relevant Scheduled Valuation Date, then (1) that eighth Scheduled Trading
Day shall be deemed to be the Averaging Date (irrespective of whether that eighth
Scheduled Trading Day is already an Averaging Date) in respect of such Index or Share,
and (2) the Calculation Agent shall determine the relevant level, price or amount for that
Averaging Date in accordance with Section 6.6; and
- (C) "Valid Date” shall mean a Scheduled Trading Day that is not a Disrupted
Day and on which another Averaging Date in respect of the relevant Valuation Date does
not or is not deemed to occur.