Common use of Closing Value Clause in Contracts

Closing Value. The Closing Value of the Index, is the value of the Index as of the close of the New York Stock Exchange, which is usually 4:00 p.m. Eastern time. If an Index is traded on an exchange other than the New York Stock Exchange, that exchange’s Closing Value will be used. If no Closing Value is published for a given day, the Closing Value for the next day for which the Closing Value is published will be used. In calculating the change in value of the Index, we use the Closing Value of the Index. Code – The U.S. Internal Revenue Code of 1986, as amended.

Closing Value. The By Closing Value of the Index, is we mean the value of the Index as of the close of the New York Stock Exchange, which is usually 4:00 p.m. Eastern time. If an Index is traded on an exchange other than the New York Stock Exchange, that exchange’s Closing Value will be used. If no Closing Value is published for a given day, we will use the Closing Value for the next day for which the Closing Value is published will be usedpublished. In calculating the change in value of the Index, we use the Closing Value of the Index. Code – The U.S. Internal Revenue Code of 1986, as amended.