{"component": "clause", "props": {"groups": [{"samples": [{"hash": "jpX27ZFDRSq", "uri": "/contracts/jpX27ZFDRSq#disruption-fallbacks", "label": "Transaction Confirmation (Txu Corp /Tx/)", "score": 21.0, "published": true}, {"hash": "9x6TwcEvGuT", "uri": "/contracts/9x6TwcEvGuT#disruption-fallbacks", "label": "Transaction Confirmation (Txu Corp /Tx/)", "score": 21.0, "published": true}], "snippet": "The following Market Disruption Fallbacks in Section 7.5(c) of the Commodity Definitions shall apply, in the following order, except as otherwise specifically provided in any Confirmation:\n(A) Postponement (with Maximum Days of Disruption equal to three Commodity Business Days);\n(B) Fallback Reference Price (if the parties have specified an alternate Commodity Reference Price in a Confirmation);\n(C) Negotiated Fallback; and\n(D) Fallback Reference Dealers.", "size": 4, "snippet_links": [{"key": "market-disruption", "type": "definition", "offset": [14, 31]}, {"key": "commodity-definitions", "type": "definition", "offset": [67, 88]}, {"key": "maximum-days-of-disruption", "type": "definition", "offset": [212, 238]}, {"key": "equal-to", "type": "definition", "offset": [239, 247]}, {"key": "business-days", "type": "clause", "offset": [264, 277]}, {"key": "fallback-reference-price", "type": "clause", "offset": [284, 308]}, {"key": "the-parties", "type": "definition", "offset": [313, 324]}, {"key": "alternate-commodity-reference-price", "type": "definition", "offset": [343, 378]}, {"key": "negotiated-fallback", "type": "definition", "offset": [403, 422]}, {"key": "fallback-reference-dealers", "type": "definition", "offset": [432, 458]}], "hash": "2977dca929def232dbaa732130a4218c", "id": 1}, {"samples": [{"hash": "9cIkmKchPQQ", "uri": "/contracts/9cIkmKchPQQ#disruption-fallbacks", "label": "Agency Agreement (Bank of America Corp /De/)", "score": 19.0, "published": true}, {"hash": "9WB1mK7Sl1M", "uri": "/contracts/9WB1mK7Sl1M#disruption-fallbacks", "label": "Agency Agreement (Bank of America Corp /De/)", "score": 19.0, "published": true}], "snippet": "The following events, if specified in the applicable Final Terms to be applicable in respect of an FX Valuation Date, shall be \u201cDisruption Fallbacks\u201d (provided that (i) different Disruption Fallbacks may be applicable in respect of different FX Valuation Dates, as specified in the applicable Final Terms, and (ii) unless otherwise provided in the applicable Final Terms, for each FX Valuation Date, the Calculation Agent Determination shall be deemed to be specified as the final, or if no other Disruption Fallback is specified, the, Disruption Fallback):", "size": 3, "snippet_links": [{"key": "the-applicable", "type": "clause", "offset": [38, 52]}, {"key": "terms-to", "type": "definition", "offset": [59, 67]}, {"key": "in-respect-of", "type": "clause", "offset": [82, 95]}, {"key": "fx-valuation-date", "type": "definition", "offset": [99, 116]}, {"key": "provided-that", "type": "clause", "offset": [151, 164]}, {"key": "valuation-dates", "type": "clause", "offset": [245, 260]}, {"key": "as-specified", "type": "clause", "offset": [262, 274]}, {"key": "calculation-agent-determination", "type": "definition", "offset": [404, 435]}, {"key": "the-final", "type": "clause", "offset": [471, 480]}], "hash": "35f347a56979020106f5f595848b2178", "id": 2}, {"samples": [{"hash": "9cIkmKchPQQ", "uri": "/contracts/9cIkmKchPQQ#disruption-fallbacks", "label": "Agency Agreement (Bank of America Corp /De/)", "score": 19.0, "published": true}, {"hash": "9WB1mK7Sl1M", "uri": "/contracts/9WB1mK7Sl1M#disruption-fallbacks", "label": "Agency Agreement (Bank of America Corp /De/)", "score": 19.0, "published": true}], "snippet": "The following events, if specified in the applicable Final Terms to be applicable in respect of a Pricing Date, shall be \u201cDisruption Fallbacks\u201d (provided that (i) different Disruption Fallbacks may be applicable in respect of different Pricing Dates, as specified in the applicable Final Terms, and (ii) unless otherwise provided in the applicable Final Terms, for each Pricing Date, the Calculation Agent Determination shall be deemed to be specified as the final, or if no other Disruption Fallback is specified or if Disruption Fallback is specified not to be applicable, Disruption Fallback):", "size": 3, "snippet_links": [{"key": "the-applicable", "type": "clause", "offset": [38, 52]}, {"key": "terms-to", "type": "definition", "offset": [59, 67]}, {"key": "in-respect-of", "type": "clause", "offset": [82, 95]}, {"key": "provided-that", "type": "clause", "offset": [145, 158]}, {"key": "pricing-dates", "type": "definition", "offset": [236, 249]}, {"key": "as-specified", "type": "clause", "offset": [251, 263]}, {"key": "calculation-agent-determination", "type": "definition", "offset": [388, 419]}, {"key": "the-final", "type": "clause", "offset": [455, 464]}], "hash": "5ad5f6a5b4b569303350e3d98404f7d9", "id": 3}, {"samples": [{"hash": "2NIazhkE5OJ", "uri": "/contracts/2NIazhkE5OJ#disruption-fallbacks", "label": "Isda Master Agreement (Pacific Energy Resources LTD)", "score": 18.0, "published": true}], "snippet": "(a) The following \"Disruption Fallbacks\" specified in Section 7.5(c) of the Definitions shall apply, in the following order, except as otherwise specified in the relevant Confirmation:", "size": 3, "snippet_links": [{"key": "the-definitions", "type": "definition", "offset": [72, 87]}, {"key": "the-relevant", "type": "clause", "offset": [158, 170]}], "hash": "59c055e04f17a993a265ab72f760045e", "id": 4}, {"samples": [{"hash": "cPg2hKq07qC", "uri": "/contracts/cPg2hKq07qC#disruption-fallbacks", "label": "Isda Master Agreement (MxEnergy Holdings Inc)", "score": 21.0, "published": true}, {"hash": "5sUTeZMZAKw", "uri": "/contracts/5sUTeZMZAKw#disruption-fallbacks", "label": "Isda Master Agreement (MxEnergy Holdings Inc)", "score": 21.0, "published": true}], "snippet": "If a Market Disruption Event occurs on a Pricing Date, then the Commodity Reference Price for such day (a \u201cMissing Day\u201d) shall be determined in accordance with the provisions of the 2005 Commodity Definitions as if no elections had been made.", "size": 2, "snippet_links": [{"key": "market-disruption-event", "type": "definition", "offset": [5, 28]}, {"key": "pricing-date", "type": "clause", "offset": [41, 53]}, {"key": "commodity-reference-price", "type": "definition", "offset": [64, 89]}, {"key": "in-accordance-with", "type": "definition", "offset": [141, 159]}, {"key": "the-provisions-of-the", "type": "clause", "offset": [160, 181]}, {"key": "commodity-definitions", "type": "definition", "offset": [187, 208]}, {"key": "no-elections", "type": "clause", "offset": [215, 227]}], "hash": "6528da364cd0662e6cc3ed79759f75e4", "id": 5}, {"samples": [{"hash": "cn8BUigFC8L", "uri": "/contracts/cn8BUigFC8L#disruption-fallbacks", "label": "Non Deliverable Cross Currency Swap Transaction (Arcos Dorados Holdings Inc.)", "score": 22.2265571526, "published": true}], "snippet": "Fallback Reference Price: EMTA BRL Industry Survey Rate (BRL 12).", "size": 2, "snippet_links": [{"key": "fallback-reference-price", "type": "clause", "offset": [0, 24]}, {"key": "emta-brl-industry-survey-rate", "type": "definition", "offset": [26, 55]}], "hash": "5cf030385d6cd86821fedf162224bb09", "id": 6}, {"samples": [{"hash": "kXetOrxcVT9", "uri": "/contracts/kXetOrxcVT9#disruption-fallbacks", "label": "Master Agreement Addendum for Non Deliverable Forwards", "score": 31.8345008822, "published": true}], "snippet": "Fallback Reference Price: BRL Industry Survey Rate (BRL11) Calculation Agent Determination of Settlement Rate \u201cDrop-dead Date\u201d for Unscheduled Holiday In the event the Scheduled Valuation Date becomes subject to the Following Business Day Convention and if the Valuation Date has not occurred on or before the eighth consecutive day after the Scheduled Valuation Day, then such eighth day, if a Business Day but for the Unscheduled Holiday or the next day that would have been a Business Day but for the Unscheduled Holiday shall be deemed to be the Valuation Date Relevant Cities for Business Sao Paolo, Brasilia or Rio de Janeiro] Day for Valuation Date: Settlement Rate Option: CNY SAEC (CNY01) Disruption Events: Price Source Disruption: Applicable \u201cDrop-dead Date\u201d for Unscheduled Holiday In the event the Scheduled Valuation Date becomes subject to the Following Business Day Convention and if the Valuation Date has not occurred on or before the eighth consecutive day after the Scheduled Valuation Day, then such eighth day, if a Business Day but for the Unscheduled Holiday or the next day that would have been a Business Day but for the Unscheduled Holiday shall be deemed to be the Valuation Date Disruption Fallbacks: Fallback Reference Price: Currency Reference Dealers (CURA4) Calculation Agent Determination of Settlement Rate [Specified Rate: Official fixing rate reported by the State Administration of Foreign Exchange] Relevant City for Business Day for Valuation Date: Beijing Settlement Rate Option: INR RBIB (INR01) Disruption Events: Price Source Disruption", "size": 1, "snippet_links": [{"key": "fallback-reference-price", "type": "clause", "offset": [0, 24]}, {"key": "calculation-agent-determination-of-settlement-rate", "type": "definition", "offset": [59, 109]}, {"key": "unscheduled-holiday", "type": "definition", "offset": [131, 150]}, {"key": "in-the-event-the", "type": "clause", "offset": [151, 167]}, {"key": "scheduled-valuation-date", "type": "definition", "offset": [168, 192]}, {"key": "subject-to-the", "type": "definition", "offset": [201, 215]}, {"key": "following-business-day-convention", "type": "definition", "offset": [216, 249]}, {"key": "the-valuation", "type": "clause", "offset": [257, 270]}, {"key": "scheduled-valuation-day", "type": "definition", "offset": [343, 366]}, {"key": "relevant-cities", "type": "definition", "offset": [565, 580]}, {"key": "settlement-rate-option", "type": "definition", "offset": [657, 679]}, {"key": "cny-saec", "type": "definition", "offset": [681, 689]}, {"key": "disruption-events", "type": "definition", "offset": [698, 715]}, {"key": "price-source-disruption", "type": "definition", "offset": [717, 740]}, {"key": "reference-dealers", "type": "definition", "offset": [1265, 1282]}, {"key": "specified-rate", "type": "definition", "offset": [1343, 1357]}, {"key": "fixing-rate", "type": "definition", "offset": [1368, 1379]}, {"key": "administration-of", "type": "clause", "offset": [1402, 1419]}, {"key": "foreign-exchange", "type": "clause", "offset": [1420, 1436]}, {"key": "relevant-city", "type": "definition", "offset": [1438, 1451]}, {"key": "inr-rbib", "type": "definition", "offset": [1521, 1529]}], "hash": "16969b8063ef93074449050670240ede", "id": 7}, {"samples": [{"hash": "kXetOrxcVT9", "uri": "/contracts/kXetOrxcVT9#disruption-fallbacks", "label": "Master Agreement Addendum for Non Deliverable Forwards", "score": 31.8345008822, "published": true}], "snippet": "Currency Reference Dealers", "size": 1, "snippet_links": [{"key": "reference-dealers", "type": "definition", "offset": [9, 26]}], "hash": "5f13fba17904bc1d4e8d6d6c6574041f", "id": 8}, {"samples": [{"hash": "k0W9hLlYQgY", "uri": "/contracts/k0W9hLlYQgY#disruption-fallbacks", "label": "Isda Master Agreement", "score": 29.8591371904, "published": true}], "snippet": "If a Market Disruption Event occurs on a Pricing Date, then the Commodity Reference Price for such day (a \u201cMissing Day\u201d) shall be determined in accordance with the Market Disruption provisions agreed to by the parties in the Confirmation for the relevant Transaction. If no Market Disruption terms have been agreed upon, then the Commodity Reference Price shall be determined in the following manner.\n(i) With respect to a Transaction with a Calculation Period consisting of eight or more Commodity Business Days, the Commodity Reference Price for such Missing Day shall be the Commodity Reference Price published on the next Commodity Business Day on which such Commodity Reference Price is available, provided, however, that if the Market Disruption Event occurs for eight (8) consecutive Commodity Business Days in the Calculation Period or if another Commodity Reference Price is not available within the Calculation Period, then the Commodity Reference Price for the Missing Day or Missing Days shall be calculated in the manner set forth in (ii) below, for Calculation Periods consisting of less than eight Commodity Business Days.\n(ii) With respect to a Transaction with a Calculation Period consisting of less than eight Commodity Business Days, the parties shall promptly endeavor to agree on an alternative source for determination of the Commodity Reference Price for the Missing Day(s). If such agreement is not reached by the parties within three (3) business days, Party A shall determine the Commodity Reference Price by taking the average of the price quotations for the relevant Commodity and the relevant Missing Day(s) obtained from at least two and no more than four internationally recognized dealers in such Commodity, as selected by Party A.", "size": 1, "snippet_links": [{"key": "market-disruption-event", "type": "definition", "offset": [5, 28]}, {"key": "pricing-date", "type": "clause", "offset": [41, 53]}, {"key": "commodity-reference-price", "type": "definition", "offset": [64, 89]}, {"key": "in-accordance-with", "type": "definition", "offset": [141, 159]}, {"key": "the-market", "type": "definition", "offset": [160, 170]}, {"key": "by-the-parties", "type": "clause", "offset": [203, 217]}, {"key": "relevant-transaction", "type": "definition", "offset": [246, 266]}, {"key": "no-market-disruption", "type": "clause", "offset": [271, 291]}, {"key": "been-agreed", "type": "clause", "offset": [303, 314]}, {"key": "with-respect-to", "type": "clause", "offset": [405, 420]}, {"key": "business-days", "type": "clause", "offset": [499, 512]}, {"key": "commodity-business-day", "type": "definition", "offset": [626, 648]}, {"key": "days-in", "type": "definition", "offset": [810, 817]}, {"key": "not-available", "type": "definition", "offset": [884, 897]}, {"key": "calculation-periods", "type": "definition", "offset": [1063, 1082]}, {"key": "the-parties-shall", "type": "clause", "offset": [1254, 1271]}, {"key": "alternative-source", "type": "definition", "offset": [1305, 1323]}, {"key": "determination-of-the", "type": "clause", "offset": [1328, 1348]}, {"key": "party-a", "type": "definition", "offset": [1479, 1486]}, {"key": "determine-the", "type": "clause", "offset": [1493, 1506]}, {"key": "price-quotations", "type": "definition", "offset": [1562, 1578]}, {"key": "relevant-commodity", "type": "definition", "offset": [1587, 1605]}, {"key": "as-selected", "type": "definition", "offset": [1741, 1752]}], "hash": "6a5364145728a7f272d0857355ffb853", "id": 9}, {"samples": [{"hash": "3jVUFfVzChr", "uri": "/contracts/3jVUFfVzChr#disruption-fallbacks", "label": "Aggregate Repricing Agreement (Norske Skog Canada LTD)", "score": 18.0, "published": true}], "snippet": "(a) Postponement\n(b) Negotiated Fallback\n(c) No Fault Termination", "size": 1, "snippet_links": [{"key": "negotiated-fallback", "type": "definition", "offset": [21, 40]}, {"key": "no-fault-termination", "type": "clause", "offset": [45, 65]}], "hash": "b58f1c66d4088c40199ac2500244407c", "id": 10}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1kaXNydXB0aW9uLWZhbGxiYWNrcyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"parents": [["definitions", "Definitions"], ["commodity-definitions", "Commodity Definitions"], ["limitation-of-liability", "Limitation of Liability"], ["additional-terms-and-conditions", "Additional Terms and Conditions"], ["netting-of-payments", "Netting of Payments"]], "title": "Disruption Fallbacks", "children": [], "size": 22, "id": "disruption-fallbacks", "related": [["disruption", "Disruption", "Disruption"], ["h5-disruption", "H5 Disruption", "H5 Disruption"], ["downtime", "Downtime", "Downtime"], ["disruption-of-service", "Disruption of Service", "Disruption of Service"], ["callback", "Callback", "Callback"]], "related_snippets": [], "updated": "2025-07-07T12:37:40+00:00", "also_ask": ["What are the essential elements to include in a Disruption Fallbacks clause to ensure enforceability?", "How can parties strategically negotiate Disruption Fallbacks to allocate risk and minimize exposure?", "What are the most common pitfalls or fatal flaws in drafting Disruption Fallbacks provisions?", "How do Disruption Fallbacks clauses compare across different jurisdictions or industry standards?", "What factors do courts consider when determining the validity and enforceability of Disruption Fallbacks clauses?"], "drafting_tip": "Specify clear fallback procedures, define triggering events precisely, and allocate responsibilities explicitly to ensure operational continuity and minimize disputes during disruptions.", "explanation": "The Disruption Fallbacks clause establishes alternative procedures or mechanisms to be used if a standard process is disrupted or becomes unavailable. In practice, this clause might specify backup methods for payments, communications, or data transfers in the event of system outages or failures. Its core function is to ensure continuity and minimize operational risk by providing clear guidance on how parties should proceed when disruptions occur."}, "json": true, "cursor": ""}}