Examples of Fund Disruption Event in a sentence
A Reference Fund Disruption Event may occur in respect of Notes if, as determined by the Calculation Agent: the date on which a Reference Fund is scheduled to determine the net asset value of such Reference Fund is postponed; the reporting of such net asset value is postponed; or payment in respect of any redemption is postponed.
If the Calculation Agent determines that a Reference Fund Disruption Event has occurred, the Calculation Agent may postpone the Valuation Date to a later date which is not a Disrupted Day, provided that the Valuation Date will not be postponed beyond the date specified in the relevant Pricing Supplement as the "Cut-off Valuation Date".
A Fund Disruption Event occurs when, in respect of a Fund Unit and the related Fund, there is a failure of the Fund or a Fund Service Provider to determine the value of such Fund Unit on a date as of which such Fund or Fund Service Provider is scheduled to do so according to the Fund’s relevant documents, or any continued postponement of the determination of the value of such Fund Unit.
See also risk factor 5(l)(viii) (Determinations made by the Issuer in respect of Fund Potential Adjustment Events, a Fund Disruption Event or Fund Extraordinary Events could have an adverse effect on the value of and return on the Securities) below.
If the Issuer determines that a Fund Disruption Event has occurred or is existing or subsisting on a Reference Date, then unless the event giving rise to the Fund Disruption Event is continuing, such Reference Date would be postponed to the next succeeding day on which there is no Fund Disruption Event, unless there is no day that is not subject to a Fund Disruption Event before the expiry of an applicable disruption cut-off period specified in the relevant Issue Terms.