BRRD Amending Directive definition

BRRD Amending Directive means Directive 2017/2399 of the European Parliament and of the Council of 12 December 2017 amending the BRRD as regards the ranking of unsecured debt instruments in insolvency hierarchy.
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Examples of BRRD Amending Directive in a sentence

  • The BRRD Amending Directive requires Member States to create a new asset class of “non-preferred” senior debt instruments with a lower rank than ordinary senior unsecured debt instruments in insolvency.

  • On 28 December 2017, Directive (EU) 2017/2399, amending the BRRD as regards the ranking of unsecured debt instruments in insolvency hierarchy (the "BRRD Amending Directive") entered into force.

  • The BRRD Amending Directive had to be implemented by the EU Member States by 29 December 2018, whereas the CRR Amending Regulation became applicable to EU Member States as of 1 January 2018.

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  • The implementation ofthe directive or the taking of any action u nder it could m aterially affect the value of the Covered BondsDirective 2014/59/EU(the “BRRD”), as amended, inter alia, by Dir ective 2 017 /2399 ( the “ BRRD Amending Directive”) and Directive 2019/879 (the “BRRD II” and, jointly with the BRRD and the BRRD Amending Directive, the “BRRD Package”) provides for the establishment of an EU-wide fr amework fo r the recovery and resolution of credit institutions and investment firms.

  • The benefit entitlements are based upon relevant provincial legislations in effect on that date.

  • Such instruments will be subject to bail-in and are supposed to rank between senior unsecured liabilities and capital instruments.On 28 December 2017, Directive (EU) 2017/2399, amending the BRRD as regards the ranking of unsecured debt instruments in insolvency hierarchy (the BRRD Amending Directive), entered into force.

  • The BRRD Amending Directive must be implemented by the EU Member States by 29 December 2018.

  • To fast-track selected parts of the proposal, Directive (EU) 2017/2399 amending the BRRD (the "BRRD Amending Directive") as regards the ranking of unsecured debt instruments entered into force on 28 December 2017.

  • At this stage, it can neither be predicted when the reforms will come into force, nor the impact of the BRRD Amending Directive and future amendments on the Noteholders.No assurance can be given that the Issuer and, consequently, the Noteholders will not be adversely affected as a result of any resolution actions or measures taken under the SAG or the BRRD II.

Related to BRRD Amending Directive

  • Ninth Amendment means that certain Amendment No. 9 to Credit Agreement, dated as of March 27, 2019, among the Original BV Borrower, the Original US Borrower, the Parent, the other Guarantors party thereto, Xxxxxx Xxxxxxx Senior Funding, Inc., as Administrative Agent, the L/C Issuer and the Swingline Lender, and the Revolving Credit Lenders party thereto.

  • Restricted Amendment means the following: (A) an amendment of Specification 1, (B) except to the extent addressed in Section 2.10 hereof, an amendment that specifies the price charged by Registry Operator to registrars for domain name registrations, (C) an amendment to the definition of Registry Services as set forth in the first paragraph of Section 2.1 of Specification 6, or (D) an amendment to the length of the Term.

  • Benchmark Replacement Conforming Changes means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

  • Ninth Amendment Effective Date has the meaning set forth in Section 4 of the Ninth Amendment.

  • Seventh Amendment means that certain Seventh Amendment to Amended and Restated Credit Agreement by and among the Borrower, the other Loan Parties party hereto, the Lenders party thereto, and the Agent, dated as of the Seventh Amendment Effective Date.”