Template:2002 ISDA Equity Derivatives Definitions 1.49: Difference between revisions

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>