Basic Terms Modification definition

Basic Terms Modification means any proposal:

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Basic Terms Modification has the meaning given to such term in Section 9.01 hereof.

Basic Terms Modification means any of the following matters, namely:

Examples of Basic Terms Modification in a sentence

• The Issuer acknowledges and agrees that nothing in this Deed is intended to take effect as a Basic Terms Modification and accordingly, if and to the extent that any of the modifications effected by this Deed would constitute, or are subsequently established to be, a Basic Terms Modification, they shall not take effect and shall be deemed never to have taken effect.

• As a consequence of being required to act only on the instructions of the Relevant Financial Guarantor(s) in the circumstances referred to in the previous sentence, the Bond Trustee shall not (other than in relation to any Basic Terms Modification), notwithstanding the provisions of the Conditions, be entitled to act on behalf of the holders of any relevant Sub-Classes of Wrapped Bonds.

• Except in the case of a Basic Terms Modification, an Extraordinary Resolution of any Subordinated Secured Creditor shall only be effective if the Trustee is of the opinion that it will not be materially prejudicial to the interests of the Priority Secured Creditor or (if the Trustee is not of that opinion) it is sanctioned by an Extraordinary Resolution of the Priority Secured Creditor.

• For the avoidance of doubt, the Bondholders of such Class or Classes of Class A Wrapped Bonds or Class B Wrapped Bonds, as the case may be, will not be entitled to vote other than in respect of an Entrenched Right which constitutes a Basic Terms Modification.

• The majority required for an Extraordinary Resolution, including the sanctioning of the Basic Terms Modification, shall be 75 per cent.

More Definitions of Basic Terms Modification

Basic Terms Modification means any amendment or modification of any Transaction Document which would require a material amendment of the Deed of Incorporation, provided that "material amendment of the Deed of Incorporation" means any amendment to the Deed of Incorporation which is not regarded by the CNMV to amount to a non-material amendment (modificación de escasa relevancia) for the purposes of Article 24 of Law 5/2015, pursuant to which no amendment affecting the Notes or of the provisions dealing with the liquidation procedures of the Issuer or with the calculation and application of the Available Funds can be regarded as a non-material amendment (modificación de escasa relevancia);

Basic Terms Modification means any proposal to:

Basic Terms Modification has the meaning ascribed to it in Note Condition 13;

Basic Terms Modification has the meaning indicated in Condition 11(A);

Basic Terms Modification means any change:

Basic Terms Modification means, in respect of any Series and Class of Notes any modification which would have the effect of:

Basic Terms Modification has the meaning given thereto in Condition 15 (Meetings of Bondholders, Modification, Waiver and Substitution).