Accrued Conversion Interest definition

Accrued Conversion Interest means, in the case of the Conversion of the Tier 1 BCNs, interest accrued and due on the Tier 1 BCNs, if any, from (and including) the Interest Payment Date immediately preceding the date of publication of the Contingency Event Notice or, as the case may be, the Viability Event Notice (or, if none, from the Issue Date) to (but excluding) the date of publication of the Contingency Event Notice or, as the case may be, the Viability Event Notice;

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Accrued Conversion Interest means, upon Conversion of the CCNs, interest accrued on the CCNs, if any, from (and including) the Interest Payment Date immediately preceding the Conversion Date (or, if none, from the Issue Date) to (but excluding) the Conversion Date;

Accrued Conversion Interest means interest accrued on the Bonds from (and including) the Interest Payment Date immediately preceding the Conversion Date, QIPO Effective Date or the Maturity Date, as the case may be (or, if none, the Issue Date), to (but excluding) the Conversion Date, the QIPO Effective Date or the Maturity Date (as the case may be);

Examples of Accrued Conversion Interest in a sentence

• Conversion Interest shall become due and payable on the Conversion Date and the Issuer shall pay to the Holders the Accrued Conversion Interest (if any) in respect of the CCNs on the Conversion Settlement Date.

• If so specified in the relevant Final Terms, any outstanding and unsatisfied Deferred Interest Payment and Deferred Accrued Conversion Interest shall bear interest at the rate, and on the terms, specified in such Final Terms.

• Any such Deferred Interest Payment or Deferred Accrued Conversion Interest will be satisfied by way of the ACSM as soon as practicable following such time as, in the opinion of LBG, the Market Disruption Event no longer exists (as notified to the Trustee by LBG).

• Subject to Clause 2.6, any payment to be made in respect of the ECNs or the Coupons (including Deferred Interest Payments and Deferred Accrued Conversion Interest (if any)) by the relevant Issuer, the Guarantor or the Trustee may be made as provided in the Conditions and any payment so made shall (subject to Clause 2.6) to that extent be a good discharge to the relevant Issuer, the Guarantor or the Trustee, as the case may be.

• The Issuer shall notify the ECN Holders in accordance with Condition 19 and the Trustee, the Issuing, Paying and Conversion Agent, the Calculation Agent and the ACSM Calculation Agent not less than 10 London business days prior to the relevant ACSM Payment Date that a Deferred Interest Payment or Deferred Accrued Conversion Interest is to be satisfied on such ACSM Payment Date.

• Any such Deferred Interest Payment or Deferred Accrued Conversion Interest not so satisfied shall continue to fall to be settled as soon as reasonably practicable in accordance with Condition 7(b) (in the case of Deferred Interest Payment) or Condition 7(c) (in the case of any Deferred Accrued Conversion Interest) and, to the extent of the shortfall, the direction and authorisation to pay a Deferred Interest Payment or Deferred Accrued Conversion Interest to LBG pursuant to Condition 8(b) shall lapse.

• Receipt by the Holders of such Ordinary Stock and Accrued Conversion Interest (if any) shall be a good and complete discharge of the Issuer’s obligations in respect of the CCNs.

• Where a Deferred Interest Payment or Deferred Accrued Conversion Interest is to be satisfied as provided in this Condition 8, it shall be so satisfied in accordance with the Alternative Coupon Satisfaction Mechanism (the “ACSM”) as provided in this Condition 8.

• Receipt by the Holders of such Ordinary Shares and Accrued Conversion Interest (if any) shall be a good and complete discharge of the Issuer’s obligations in respect of the CCNs.

• Subject to Condition 4(c), receipt by the Holders of the Ordinary Stock and Accrued Conversion Interest (if any) shall be a good and complete discharge of the Issuer’s obligations in respect of the CCNs.

More Definitions of Accrued Conversion Interest

Accrued Conversion Interest means, in the case of the Conversion of the ECNs, interest accrued on the ECNs from (and including) the Interest Payment Date immediately preceding the Conversion Date (or, if none, from the Issue Date) to (but excluding) the Conversion Date;