Common use of Valid Day Clause in Contracts

Valid Day. An Exchange Business Day on which there is no Disruption Event with respect to the Shares. Final Settlement Amount: For each Conversion Event, the number of Shares, rounded up to the nearest whole Share, determined by the Calculation Agent to be equal to the quotient of (x) the related Net Settlement Amount divided by (y) the related Reference Price.

Appears in 2 contracts

Sources: Convertible Note Hedge (Cephalon Inc), Convertible Note Hedge (Cephalon Inc)