Applicable MREL Regulations definition
Examples of Applicable MREL Regulations in a sentence
The Senior Preferred Notes and the Senior Non-Preferred Notes are intended to be MREL Eligible Liabilities which are available to meet any MREL Requirement (however called or defined by the Applicable MREL Regulations then applicable) of the Issuer and the Group.
The Senior Non-Preferred Notes are intended to be MREL Eligible Liabilities which are available to meet any MREL Requirement (however called or defined by the Applicable MREL Regulations then applicable) of the Issuer and the Group.
Therefore, the Senior Non-Preferred Notes, as so substituted or varied, may need to be made eligible as MREL in accordance with the then Applicable MREL Regulations and no assurance can be given that such substitution or variation will not adversely affect any particular Senior Non-Preferred Noteholder.
If they initially are MREL-Eligible Instruments and subsequently become ineligible due to a change in Applicable MREL Regulations, or they do not qualify as MREL-Eligible Instruments by reason of Applicable MREL Regulations becoming effective, then a MREL Disqualification Event will occur (and the Issuer may redeem the Senior Non-Preferred Notes).
However, there is uncertainty regarding the final substance of the Applicable MREL Regulations, and the Issuer cannot provide any assurance that the Senior Non-Preferred Notes will be or remain MREL-Eligible Instruments.