Common use of Valid Day Clause in Contracts

Valid Day. A day on which (i) trading in the Shares generally occurs and (ii) a Market Disruption Event has not occurred; provided that if the Shares are not then listed for trading or quotation on or by any exchange, bureau or other organization, “Valid Day” means a Business Day. Scheduled Valid Day: A day that is scheduled to be a Valid Day on the primary United States national securities exchange or market on which the Shares are listed or admitted for trading. If the Shares are not so listed or admitted for trading, “Scheduled Valid Day” means a Business Day. Business Day: Each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York, NY are authorized or obligated by law or executive order to close.

Valid Day. A day on which (i) there is no Market Disruption Event and (ii) trading in the Shares generally occurs and (ii) a Market Disruption Event has not occurred; provided that on the Exchange or, if the Shares are not then listed for trading on the Exchange, on the principal other U.S. national or quotation regional securities exchange on which the Shares are then listed or, if the Shares are not then listed on a U.S. national or by any regional securities exchange, bureau on the principal other market on which the Shares are then traded. If the Shares (or other organizationsecurity for which a Relevant Price must be determined) are not so listed or quoted, “a Valid Day” Day means a Business Day. Scheduled Valid Day: A day that is scheduled to be a Valid Day on the primary United States U.S. national or regional securities exchange or market on which the Shares are listed or admitted for trading. If the Shares are not so listed or admitted for trading, “Scheduled Valid Day” Day means a Business Day. Business Day: Each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York, NY are authorized or obligated by law or executive order to close.