Equivalent Collateral definition

Equivalent Collateral means, with respect to any security constituting Posted Collateral, a security of the same issuer and, as applicable, representing or having the same class, series, maturity, interest rate, principal amount or liquidation value and such other provisions as are necessary for that security and the security constituting Posted Collateral to be treated as equivalent in the market for such securities;

Equivalent Collateral means, with respect to any security constituting Posted Collateral, a security of the same issuer and, as applicable, representing or having the same class, series, maturity, interest rate, principal amount or liquidation value and such other provisions as are necessary for that security and the security constituting Posted Collateral to be treated as equivalent in the market for such securities.

Equivalent Collateral means securities of the same description as collateral securities;

Examples of Equivalent Collateral in a sentence

• Where any voting rights fall to be exercised in relation to any Loaned Securities or Collateral, neither Borrower, in the case of Equivalent Securities, nor Lender, in the case of Equivalent Collateral, shall have any obligation to arrange for voting rights of that kind to be exercised in accordance with the instructions of the other Party in relation to the Securities borrowed by it or transferred to it by way of Collateral, as the case may be, unless otherwise agreed between the Parties.

• Each Party agrees that in relation to legal proceedings it will not seek specific performance of the other Party's obligation to deliver or redeliver Securities, Equivalent Securities, Collateral or Equivalent Collateral but without prejudice to any other rights it may have.

• Where a Letter of Credit is provided by way of Collateral, the obligation to redeliver Equivalent Collateral is satisfied by Lender redelivering for cancellation the Letter of Credit so provided, or where the Letter of Credit is provided in respect of more than one Loan, by Lender consenting to a reduction in the value of the Letter of Credit.

• Where a Letter of Credit is provided by way of Collateral, the obligation to deliver Equivalent Collateral is satisfied by Lender delivering for cancellation the Letter of Credit so provided, or where the Letter of Credit is provided in respect of more than one Loan, by Lender consenting to a reduction in the value of the Letter of Credit.

• For the avoidance of doubt any reference in this Agreement or in any other agreement or communication between the Parties (however expressed) to an obligation to deliver or account for or act in relation to Collateral shall accordingly be construed as a reference to an obligation to deliver or account for or act in relation to Equivalent Collateral.

More Definitions of Equivalent Collateral

Equivalent Collateral or in relation to any Collateral provided under this Agreement

Equivalent Collateral means Collateral of the same type, nominal value, description and amount as that Collateral.

Equivalent Collateral means, in relation to any Posted Collateral, financial instruments of the same type, nominal value, description and amount as that Posted Collateral.

Equivalent Collateral means Commodity Securities of the same type, description and amount (subject to variations in quality and weight as is permitted under Exchange Rules) as the non-cash collateral comprising Commodities Securities transferred to us under paragraph 7 or over which you have granted us a security interest under paragraph 12.

Equivalent Collateral or in relation to any Collateral provided under this Agreement "Collateral equivalent to" means securities, cash or other property, as the case may be, of an identical type, nominal value, description and amount to particular Collateral so provided and shall include the certificates and other documents of or evidencing title and transfer in respect of the foregoing (as appropriate). If and to the extent that such Collateral consists of securities that are partly paid or have been converted, subdivided, consolidated, redeemed, made the subject of a takeover, capitalisation issue, rights issue or event similar to any of the foregoing, the expression shall have the following meaning:

Equivalent Collateral means the equivalent collateral within the meaning of section 7:51 sub g of the Dutch Civil Code;

Equivalent Collateral means, in relation to any Collateral provided pursuant to these SBL Conditions, securities, cash or other property, as the case may be, of an identical type, nominal value, description and amount determined by Bursa Clearing (S) to be equivalent to the particular Collateral provided. For the avoidance of doubt, in relation to Cash Collateral, it means an equal amount of the currency provided as Collateral; in relation to Collateral in the form of a Bank Guarantee or a Letter of Credit, that Bank Guarantee or Letter of Credit; in relation to Securities Collateral, the Equivalent Securities Collateral; and in relation to Other Collateral, such other forms of collateral as may be prescribed by Bursa Clearing(S) from time to time as being equivalent;