Examples of Bankruptcy Event in a sentence
Upon the occurrence of a Bankruptcy Event or a Change of Control, the entire principal balance of this Subordinated Note shall immediately become due and payable without any action on the part of the Holder.
Other than in a Bankruptcy Event, no amount will be payable under or arising from the Tier 2 Bonds except to the extent that the Issuer could make such payment in satisfaction of the Solvency Condition.
Other than in a Bankruptcy Event, no amount will be payable under or arising from the RT1 Bonds except to the extent that the Issuer could make such payment in satisfaction of the Solvency Condition.
Junior Obligations means (i) the Issuer’s share capital, or(ii) any other obligations of the Issuer ranking or expressed to rank junior to the Tier 2 Bonds.In case of a Bankruptcy Event, payments to investors in subordinated debt will depend on funds left after payments are made to unsubordinated creditors.