ABS Reference Obligation definition

ABS Reference Obligation means each asset-backed security comprised in the ABS Reference Registry from time to time.
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ABS Reference Obligation means each Reference Obligation other than a Reference Swap. "ABS Writedown" has the meaning given in the definition of "Irrevocable Principal Loss".
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ABS Reference Obligation means ABS for the time being comprised in the ABS Reference Registry.
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Examples of ABS Reference Obligation in a sentence

  • An ABS Reference Obligation may not be removed (in whole or in part) from the Reference Portfolio pursuant to a Removal after the notification by the Calculation Agent of the occurrence of a Credit Event in respect of such ABS Reference Obligation.

  • In the event that the Portfolio Adjustment Agent specifies that “Automatic Replenishment” is to apply in relation to any ABS Reference Obligation, such ABS Reference Obligation will, upon any amortisation, repayment or cancellation in part of such ABS Reference Obligation be deemed to be automatically subject to a Replenishment of such ABS Reference Obligation in an amount equal to such amortisation, repayment or cancellation.

  • In respect of an ABS Reference Obligation under which the outstanding principal amount is expected to be repaid in a single repayment at the Expected Maturity, the Remaining Expected Life of that ABS Reference Obligation.

  • However, should a Replenishment occur which has a result of a Removal, the ABS Reference Obligation which is subject to a Replenishment must have a Moody’s or S&P rating or Equivalent Moody’s or S&P rating not lower than the Moody’s or S&P rating or Equivalent Moody’s or S&P rating of the ABS Reference Obligation which is subject to Removal.

  • An ABS Reference Obligation may not be included in the Reference Portfolio unless such ABS Reference Obligation is listed in the Moody’s ABS Classification as specified in Part II of Appendix C (as determined by the Calculation Agent acting in good faith and in a commercially reasonable manner).

  • Loss Amount: In respect of a Final Valuation Notice Receipt Date for each ABS Reference Obligation in respect of which an Event Determination Date has occurred and which has not previously been taken into account in the calculation of a Loss Amount, the greater of (i) the product of the Adjusted Reference Obligation Notional Amount for that ABS Reference Obligation and the excess of the Reference Price over the Final Price for that ABS Reference Obligation and (ii) zero.

  • Should such rating be lower than “Aaa” in the case of Moody’s or “AAA” in the case of S&P, then the Weighted Average Life of the ABS Reference Obligation which is subject to a Replenishment must be lower than or equal to the Weighted Average Life of the ABS Reference Obligation which is subject to Removal.

  • The Reference Obligation Notional Amount of each ABS Reference Obligation does not exceed 1.0 per cent of the Initial Portfolio Notional Amount.

  • The Predominant Domicile of each ABS Reference Obligation shall be the United States.

  • The Reference Obligation Notional Amount of each ABS Reference Obligation does not exceed 2.0 per cent of the Initial Portfolio Notional Amount.


More Definitions of ABS Reference Obligation

ABS Reference Obligation means any asset listed as a “ABS” under the heading “CDO/ABS” in the Reference Registry from time to time. Buyer shall have the right (but not the obligation) at any time following an Amortisation to remove any ABS Reference Obligations from the Reference Registry which, in its sole discretion, it determines have been subject to an Amortisation (as defined herein) and replace each such ABS Reference Obligation for another replacement ABS Reference Obligation (the “Replacement ABS Reference Obligation”) meeting the Replacement Criteria.
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Related to ABS Reference Obligation

  • Reference Obligation means an obligation used for the purposes of determining the cash settlement value of a credit derivative;

  • Credit Event Reference Obligation means, with respect to any Payment Date, any Reference Obligation with respect to which a Credit Event has occurred.

  • Reference Obligations The residential mortgage loans identified on xxxx://xxx.xxxxxxxxxx.xxx/creditriskofferings/security_data.html. Reference Pool: All of the Reference Obligations, collectively.

  • Reversed Credit Event Reference Obligation With respect to any Payment Date means a Reference Obligation formerly in the Reference Pool that became a Credit Event Reference Obligation in a prior Reporting Period that is found in the related Reporting Period, through Xxxxxxx Mac’s quality control process, to have an Underwriting Defect or a data correction that invalidates the previously determined Credit Event.

  • Affected Reference Entity means, in respect of a Specified Payment Date, that the Reference Entity was a Non-Determined Reference Entity as of the Cut-off Date relating to that Specified Payment Date (in each case determined by reference to Greenwich Mean Time (or, if the relevant Standard is Japan or Japan Sovereign, Tokyo time)) or that a Deferral Notice has been given to the Company after the Cut-off Date relating to that Specified Payment Date but on or prior to that Specified Payment Date (in each case determined by reference to Greenwich Mean Time).

  • Compliance obligation means the quantity of verified reported emissions or assigned emissions for which an entity must submit compliance instruments to ARB.

  • Finance Obligations means, at any date, (i) all Senior Credit Obligations, (ii) all Swap Obligations of a Loan Party permitted hereunder owed or owing to any Swap Creditor and (iii) all Cash Management Obligations.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Fixed Rate Obligation means any Collateral Loan that bears a fixed rate of interest.

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • Compliance Obligations means obligations of the AMC to comply with: (a) laws or international guidance and internal policies or procedures, (b) any demand or request from authorities or reporting, disclosure or other obligations under laws, and (c) laws requiring us to verify the identity of our customers.

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of trust certificates or other instruments intended to be issued in compliance with the principles of Shari'ah, whether or not in return for consideration of any kind.

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • zero-coupon obligation means a debt security that does not expressly provide for the accrual of interest, and includes the former component parts of a debt security that did expressly provide for the accrual of interest if that component part does not itself expressly provide for the accrual of interest.

  • cross-default obligation means a term of any agreement or arrangement whereby the Appointee's liability to pay or repay any debt or other sum arises or is increased or accelerated by reason of a default of any person other than the Appointee. 6.12 Without prejudice to the application of paragraph 6.2 the Appointee shall declare or pay dividends only in accordance with a dividend policy which has been approved by the Board of the Appointee and which complies with the following principles -

  • Deliverable Obligation Category means Bond or Loan.

  • Relevant Obligation means an obligation under this contract in respect of which a Force Majeure Event has occurred and the Affected Party has claimed relief under this Clause 17.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Collateral Enhancement Obligation means any warrant or equity security, excluding Exchanged Equity Securities, but including without limitation, warrants relating to Mezzanine Obligations and any equity security received upon conversion or exchange of, or exercise of an option under, or otherwise in respect of a Collateral Debt Obligation; or any warrant or equity security purchased as part of a unit with a Collateral Debt Obligation (but in all cases, excluding, for the avoidance of doubt, the Collateral Debt Obligation), in each case, the acquisition of which will not result in the imposition of any present or future, actual or contingent liabilities or obligations on the Issuer other than those which may arise at its option; provided that no Collateral Enhancement Obligation may be a Dutch Ineligible Security.

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Structured Finance Obligation means any obligation issued by a special purpose vehicle and secured directly by, referenced to, or representing ownership of, a pool of receivables or other financial assets of any obligor, including collateralized debt obligations and mortgaged-backed securities. For the avoidance of doubt, if an obligation satisfies the definition of “Structured Finance Obligation”, such obligation shall not (a) qualify as any other category of Portfolio Investment and (b) be included in the Borrowing Base.

  • Relevant Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of Islamic-compliant certificates, whether or not in return for consideration of any kind, which for the time being are, or are intended to be, or are capable of being, quoted, listed or ordinarily dealt in or traded on any stock exchange, over-the-counter or other securities market.

  • Deliverable Obligation Characteristics means Not Subordinated, Specified Currency, Not Contingent, Assignable Loan, Consent Required Loan, Transferable, Not Bearer, Maximum Maturity – 30 years.

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • Swap Agreement Obligations means any and all obligations of the Loan Parties and their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any Swap Agreement permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction permitted hereunder with a Lender or an Affiliate of a Lender.

  • Credit Facility Obligations means all “Obligations” (or any other defined term having a similar purpose) as defined in the Credit Agreement.