CDS Settlement Agreement definition

CDS Settlement Agreement means the settlement agreement among AAC, Ambac Credit Products, LLC, the Debtor, and certain credit default swap contract counterparties, dated as of June 7, 2010, pursuant to which, in exchange for the termination of certain commuted obligations, AAC paid to such counterparties $2,600,000,000 in Cash and $2,000,000,000 of surplus notes of AAC that have a scheduled maturity of June 7, 2020.
Sample 1Sample 2Sample 3
CDS Settlement Agreement means the settlement agreement among AAC, Ambac Credit Products, LLC, the Debtor, and certain credit default swap contract counterparties, dated as of June 7, 2010, pursuant to which, in exchange for the termination of certain commuted obligations, AAC paid to such counterparties
Sample 1

Examples of CDS Settlement Agreement in a sentence

  • Pursuant to the terms of the CDS Settlement Agreement, on June 7, 2010, the Debtor entered into the June 2010 Amendment with its Affiliates.

  • This shows that the positive reviews leads to a more positive attitude towards the hotel (M=5.57), whereas the mix of positive/negative reviews leads to a more negative attitude towards the hotel (M=4.19).

  • On June 7, 2010, pursuant to the terms of the CDS Settlement Agreement, the Ambac Affiliates party to the TSA entered into a subsequent amendment of the TSA (the “June 2010 Amendment”).

  • In addition, effective June 7, 2010, the outstanding CDS with the CDS Counterparties that remained in the general account of AAC (the “General Account”) were amended to remove certain events of default and termination events, as set forth in the CDS Settlement Agreement.

  • CDS Settlement AgreementPursuant to the terms of the CDS Settlement Agreement, in exchange for the termination of the Commuted CDO of ABS Obligations (as defined below), AAC paid to the CDS Counterparties in the aggregate (i) $2.6 billion in cash and (ii) $ 2 billion in principal amount of newly issued surplus notes of Ambac Assurance (the “ AAC Surplus Notes”).

  • The CDS Settlement Agreement includes covenants that remain in force until the AAC Surplus Notes have been redeemed, repurchased or repaid in full.

  • Pursuant to the CDS Settlement Agreement, AAC filed an amendment to its articles of incorporation.

  • Impact of the CDS Settlement Agreement and the Segregated Account Rehabilitation Proceedings on AFG The aggregate amount of the Surplus Notes, which rank senior to the Debtor’s equity investment in AAC, has not yet been determined but will be substantial.

  • Although most of AAC’s exposure to CDS was commuted in connection with the CDS Settlement Agreement, the General Account continues to be exposed to a significant book of CDS of CDOs, collateralized loan obligations and other structured finance obligations.

Related to CDS Settlement Agreement

  • Master Settlement Agreement means the settlement agreement and related documents entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers.

  • Structured settlement agreement means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement.

  • Settlement Agreements means any settlement reached in the U.S. Litigation with any of the Settling Defendants.

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Operating Agreement, section 3.3. PJM Tariff, Xxxxxx, O.A.T.T., OATT or PJM Open Access Transmission Tariff: “PJM Tariff,” “Tariff,” “O.A.T.T.,” “OATT,” or “PJM Open Access Transmission Tariff” shall mean that certain PJM Open Access Transmission Tariff, including any schedules, appendices or exhibits attached thereto, on file with FERC and as amended from time to time thereafter. Plan:

  • Put Agreement means an agreement dated as of August 13, 2008, as amended, among the Company, OT LLC and Rio Tinto Alcan.

  • Gross Settlement Amount means $633,000.00 which is the total amount Defendant agrees to pay under the Settlement except as provided in Paragraph 9 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Settlement Agreement means this agreement, including the recitals and schedules.

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • Post-Closing Agreement shall have the meaning set forth in Section 8.9.

  • Viatical settlement contract or “contract” means a written agreement entered into between a provider and a viator in which the provider will pay consideration that is less than the expected death benefit of the viator's policy in return for the viator's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the policy to the provider.

  • Master Transaction Agreement has the meaning set forth in the recitals.

  • Put Option Agreement has the meaning set forth in the recitals.

  • Restructuring Support Agreement has the meaning set forth in the Recitals.

  • securities settlement system means a securities settlement system (as defined in the CSD Regulation) operated by a central securities depository;

  • Conversion Agreement shall have the meaning set forth in the Recitals.

  • Lock-Up Agreement means the Lock-Up Agreement, dated as of the date hereof, by and among the Company and the directors, officers and 5% stockholders of the Company, in the form of Exhibit C attached hereto.

  • Payment Agreement means a written agreement which provides

  • Transaction Agreement has the meaning set forth in the recitals.

  • Netting agreement means a netting agreement, master netting agreement or other similar document having the same effect as a netting agreement or master netting agreement and, as applicable, any collateral annex, security agreement or other similar document related to any master netting agreement or Permitted Contract.

  • Backstop Agreement has the meaning set forth in the recitals to this Agreement.

  • Redemption Agreement has the meaning set forth in the Recitals.

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Restructuring Agreement shall have the meaning set forth in the recitals.

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.