Common use of Relevant Value Clause in Contracts

Relevant Value. For the purposes of this clause, the Relevant Value: (a) of any cash payment obligation must equal its face value (disregarding any amount taken into account under (b) below); (b) of any Securities to be delivered to a Party will be the value as calculated by ZERO Securities Pty Ltd as at the relevant time on the Performance Date, or, if the relevant Event of Default occurs outside the normal business hours of such market, on the first Business Day following the Performance Date (Default Valuation Time), having regard to the allocated percentage of the market value as determined by ZERO Securities Pty Ltd and taking into account all reasonable costs, fees and expenses that would be incurred (directly or indirectly) in connection with ZERO Securities Pty Ltd terminating the Transaction and whether the Securities would be likely to have any reasonable value (if trading in them is suspended or halted). For the avoidance of doubt, ZERO Securities Pty Ltd may determine that the Securities have no value even if the last reported sale price for them indicates a reported value.