Benchmark Obligation definition

Benchmark Obligation means, in respect of each Reference Entity, the obligation (if any) specified as such in the CDO Reference Registry.Reference Obligation Category: With respect to each Reference Entity of a particular ReferenceEntity Category, the Reference Obligation Category specified in Reference Obligation Characteristics:Schedule B with respect to Reference Entities of such Reference Entity Category.With respect to each Reference Entity of a particular Reference Entity Category, the Reference Obligation Characteristic(s) specified in Schedule B with respect to Reference Entities of such Reference Entity Category.For the avoidance of doubt, “Assignable Loan” and “Consent Required Loan” shall not apply to Reference Obligations which are Bonds.If “Assignable Loan” and “Consent Required Loan” are specified as Reference Obligation Characteristics, the Reference Obligations may include any Loan that satisfies either one of such Reference Obligation Characteristics (and all the other applicable Reference Obligation Characteristics).
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Benchmark Obligation means the Benchmark Obligation, if any, specified in the applicable Final Terms.
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Benchmark Obligation means, with respect to the relevant Reference Entity, the Benchmark Obligation specified in the Annex hereto or such Obligation as may replace such Benchmark Obligation in accordance with “Replacement of Benchmark Obligation” below.
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Examples of Benchmark Obligation in a sentence

  • The Benchmark Obligation for any Successor shall be deemed to be the “Benchmark Obligation” from the Succession Date.

  • The Credit Position of the relevant Successor shall be divided into the portion of the Credit Position attributable to the entity in respect of which a Subordinated Obligation was specified as a Benchmark Obligation (the “ Subordinated Credit Position”) and the portion of the Credit Position attributable to the entity in respect of which an obligation that was not a Subordinated Obligation was specified as the Benchmark Obligation (the “Senior Credit Position”).

  • Since many industrial flow solvers use second order numerical schemes, it is expected that results presented for the recommended GAM methods in the final project report also use second order schemes as a comparison to the higher order numerical schemes used by many of the Go4Hybrid partners.

  • For purposes of determining whether an obligation satisfies the “Not Subordinated” Obligation Characteristic or Reference Obligation Characteristic, the ranking in priority of payment of each Benchmark Obligation or each Prior Benchmark Obligation, as applicable, shall be determined as of the date as of which the relevant Benchmark Obligation or Prior Benchmark Obligation, as applicable, was issued or incurred and shall not reflect any change to such ranking in priority of payment after such date.

  • The Credit Position of the relevant Successor shall be divided into the portion of the Credit Position attributable to the entity in respect of which a Subordinated Obligation was specified as a Benchmark Obligation (the “Subordinated Credit Position”) and the portion of that Credit Position attributable to the entity in respect of which an obligation that was not a Subordinated Obligation was specified as the Benchmark Obligation (the “Senior Credit Position”).

  • For the purposes of identification of a Benchmark Obligation, any change in the Benchmark Obligation’s CUSIP or ISIN number or other similar identifier will not, in and of itself, convert such Benchmark Obligation into a different Obligation.

  • A) “ Not Subordinated” means an obligation that is not Subordinated to (i) the most senior Benchmark Obligation in priority of payment or (ii) if no Benchmark Obligation is specified with respect to the relevant Reference Entity in the Swap Agreement or, as the case may be, in the Pricing Conditions, any unsubordinated Borrowed Money obligation of the Reference Entity.

  • In the event that “Not Subordinated” is specified as being applicable to a Reference Entity in the relevant Standard under “Obligation(s)” then any Obligation with respect to such Reference Entity must not be Subordinated to (i) the most senior Benchmark Obligation in priority of payment or (ii) if no Benchmark Obligation is specified in the Annex hereto, any unsubordinated obligation of the Reference Entity.

  • For each Successor in respect of which no Benchmark Obligation has been specified, the Calculation Agent shall determine a Substitute Reference Obligation in accordance with Section 2.30 and such obligation shall be deemed to be the Benchmark Obligation for that Successor.

  • Please consult your departmental administrator further information.- All applications must include at least one external non-academic partner organisation.- The Principal Investigator must hold an academic post or be a PI on a research contract awarded competitively and intended to enable the holder to establish an independent research career.


More Definitions of Benchmark Obligation

Benchmark Obligation means the obligation identified as follows:
Sample 1
Benchmark Obligation means, in respect of each Reference Entity, the obligation (if any) specified as such in the Reference Registry.
Sample 1
Benchmark Obligation means the Bond or Loan obligation (whether such obligation is incurred directly or as provider of a Qualifying Affiliate Guarantee or, if All Guarantees is applicable, a Qualifying Guarantee or, if the Monoline Provisions are applicable, as provider of a Qualifying Policy), if any, identified in the Portfolio List in respect of the relevant Reference Entity.
Sample 1

Related to Benchmark Obligation

  • 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.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • 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.

  • Program Obligations means (1) all applicable statutes and any regulations issued by the Secretary pursuant thereto that apply to the Project, including all amendments to such statutes and regulations, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and (2) all current requirements in HUD handbooks and guides, notices, and mortgagee letters that apply to the Project, and all future updates, changes and amendments thereto, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and provided that such future updates, changes and amendments shall be applicable to the Project only to the extent that they interpret, clarify and implement terms in this Agreement rather than add or delete provisions from such document. Handbooks, guides, notices, and mortgagee letters are available on HUD's official website: (xxxx://xxx.xxx.xxx/offices/adm/hudclips/index.cfm or a successor location to that site)).

  • 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:

  • Credit Risk Obligation Any Collateral Obligation that, in the judgment of the Collateral Manager (which may not be called into question due to subsequent events or investment determinations made by the Collateral Manager for its other clients or investment vehicles managed by the Collateral Manager), has a material risk of declining in credit quality or price; provided that during a Restricted Trading Period, a Collateral Obligation will qualify as a Credit Risk Obligation for purposes of sales of Collateral Obligations only if (i) such Collateral Obligation has been downgraded by S&P at least one rating sub-category (which rating may include a credit estimate) or has been placed and remains on a credit watch with negative implication by S&P since it was acquired by the Issuer, (ii) the Credit Risk Criteria are satisfied with respect to such Collateral Obligation or (iii) a Majority of the Controlling Class consents to treat such Collateral Obligation as a Credit Risk Obligation.

  • Bank Obligations as defined in subsection 8.1.

  • 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.

  • Other First Lien Obligations means (a) the due and punctual payment by any Pledgor of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Pledgor to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Pledgor under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Pledgor under or pursuant to any Other First Lien Agreement.

  • U.S. Obligations means securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are (i) direct obligations of the United States of America for the payment of which its full faith and credit is pledged, and (ii) not subject to prepayment, call or early redemption.

  • Bank Product Collateralization means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations (other than Hedge Obligations).

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Note Obligations means the Notes, the Guarantees and all other obligations of any obligor under this Indenture, the Notes, the Guarantees and the Security Documents.

  • Term Obligations shall include all interest accrued or accruing (or which would, absent commencement of an Insolvency or Liquidation Proceeding, accrue) after commencement of an Insolvency or Liquidation Proceeding in accordance with the rate specified in the relevant Term Document whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • Notes Obligations means Obligations in respect of the Notes, this Indenture and the Guarantees.

  • Canadian Obligations means all Obligations of the Canadian Loan Parties.

  • 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.

  • Related Secured Obligations means, as of any date, the outstanding principal amount of the Related Equipment Notes issued under each Related Indenture, the accrued and unpaid interest (including, to the extent permitted by applicable law, post-petition interest and interest on any overdue amounts) due thereon in accordance with such Related Indenture as of such date, the Related Make-Whole Amount, if any, with respect thereto due thereon in accordance with such Related Indenture as of such date, and any other amounts payable as of such date under the “Operative Documents” (as defined in each Related Indenture).

  • Specified Obligations means Obligations consisting of the principal of and interest on Loans, reimbursement obligations in respect of Swing Line Loans and L/C Obligations (including interest accrued thereon), and fees.

  • Guaranteed Obligation and “Guaranteed Obligations” shall have the meaning assigned thereto in the Guarantee set forth on the signature pages hereto.

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

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

  • Secured Swap Obligations means all Swap Obligations under any Secured Swap Agreement.

  • Hedging Obligation of any Person means any obligation of such Person pursuant to any Interest Rate Agreement, Currency Exchange Protection Agreement, Commodity Price Protection Agreement or any other similar agreement or arrangement.