First Day of the Knock-out Period means the First Day of the Knock-out Period as specified in § 1 of the Product and Underlying Data.
Day/Days means calendar days, inclusive of Saturdays, Sundays and public holidays.
Arrears for this purpose means, in respect of a Loan, on any date that two or more Monthly Payments have become due and remain unpaid by the relevant Borrower, and this reporting line relates to repurchases under clause 8.11 of the Mortgage Sale Agreement.
Rostered Day Off means a day where an employee is not rostered to work other than an Accrued Day Off.
Averaging Date means each date specified as an Averaging Date in the relevant Final Terms or, if such date is not a Scheduled Trading Day, the immediately succeeding Scheduled Trading Day unless such day is a Disrupted Day in the opinion of the Calculation Agent. If such day is a Disrupted Day, then: