Determining Futures Exchange means the options and/or futures exchange, on which respective derivatives of the Underlying (the "Derivatives") are mostly liquidly traded, such options and/or futures exchange shall be determined by the Calculation Agent acting in accordance with relevant market practice and in good faith by way of notice pursuant to § 6 of the General Conditions.In the case of a material change in the market conditions at the Determining Futures Exchange, such as a final discontinuation of derivatives' quotation linked to the Underlying at the Determining Futures Exchange or a considerably restricted number or liquidity, it shall be substituted as the Determining Futures Exchange by another options and/or futures exchange that offers satisfactorily liquid trading in the Derivatives (the "Substitute Futures Exchange"); such options and/or futures exchange shall be determined by the Calculation Agent acting in accordance with relevant market practice and in good faith. In the event of such substitution, any reference to the Determining Futures Exchange in the Terms and Conditions of these Securities shall be deemed to refer to the Substitute Futures Exchange.

Determining Futures Exchange means the options and/or futures exchange, on which respective derivatives of the Underlying (the "Derivatives") are mostly liquidly traded, such options and/or futures exchange shall be determined by the Calculation Agent in its reasonable discretion (§ 315 et seq. BGB).

Determining Futures Exchange means the options and/or futures exchange, on which respective derivatives of the Underlying or – if derivatives on the Underlying are not traded – its components (the "Underlying Linked Derivatives") are mostly liquidly traded, such options and/or futures ex- change shall be determined by the Calculation Agent in its reasonable discretion (§ 315 et seq. BGB) by way of notice pursuant to § 6 of the General Conditions.

## Examples of *Determining Futures Exchange* in a sentence

Any restriction of the trading hours or the number of days on which trading takes place on the Relevant Exchange or, as the case may be, the Deter- mining Futures Exchange, shall not constitute a Market Disruption Event provided that the restriction occurs due to a previously announced change in the rules of the Relevant Exchange or, as the case may be, the

**Determining Futures Exchange**.

## More Definitions of *Determining Futures Exchange*

Determining Futures Exchange means the options and/or futures exchange, on which respec- tive derivatives of the Underlying or – if derivatives on the Underlying are not traded – its compo- nents (the "Derivatives") are mostly liquidly traded, such options and/or futures exchange shall be determined by the Calculation Agent acting in accordance with relevant market practice and in good faith by way of notice pursuant to § 6 of the General Conditions.

Determining Futures Exchange means the futures exchange, on which derivatives of the Underlying or – if derivatives on the Underlying are not traded – of its components (the "Derivatives") are most liquidly traded; such futures exchange shall be determined by the Calculation Agent acting in accordance with relevant market practice and in good faith.

Determining Futures Exchange means the options and/or futures exchange, on which respective derivatives of the Underlying (the "Derivatives") are mostly liquidly traded, such options and/or futures exchange shall be determined

Determining Futures Exchange means the options and/or futures exchange, on which respective derivatives of the Underlying or – if derivatives on the Underlying are not traded – its components (the "Underlying Linked Derivatives") are mostly liquidly traded, such options

Determining Futures Exchange means the futures exchange, on which respective derivatives of the Underlying or – if derivatives on the Underlying are not traded – its components (the "Underlying Linked Derivatives") are mostly liquidly traded; such futures exchange shall be determined by the Calculation Agent in its reasonable discretion (§ 315 et seq. BGB).

Determining Futures Exchange means the options and/or futures exchange, on which respective derivatives of the Underlying or – if derivatives on the Underlying are not traded – its

Determining Futures Exchange means the futures exchange, on which respective derivatives of the Underlying (the "Derivatives") are traded, and as determined by the Calculation Agent in its reasonable discretion (§ 315 BGB) by way of notice pursuant to § 6 of the General Conditions in accordance with such Derivative's number or liquidity.