Collateral Default Event means (i) the occurrence, in accordance with the terms of the Collateral as at the Issue Date, of a default, event of default or other similar event or circumstance under the Collateral (howsoever described and including, without limitation, a failure to pay any principal or interest when and where due in accordance with the terms of the Collateral as at the Issue Date) or (ii) the terms of the Collateral are restructured and/or amended (whether by operation of law or otherwise) such that (as applicable) the interest and/or principal (in each case howsoever described) and/or any other amounts payable thereunder is reduced and/or postponed and/or the priority of payments and/or the maturity date thereunder is amended.”.

Collateral Default Event means the occurrence of any Credit Event (as defined in the 2003 ISDA Credit Derivatives Definitions (the "CDD Definitions"), and not, for the avoidance of doubt, as defined in the Credit Default Swap) in respect of any of the Collateral Securities. For this purpose, a reference to a "Reference Entity" shall be deemed to be a reference to the issuer or guarantor of those Collateral Securities and the "Obligation Category" as defined in the CDD Definitions shall be "Bond or Loan" (as defined in the CDD Definitions).

Collateral Default Event means one or more of the following:

Examples of Collateral Default Event in a sentence

In such circumstances, provided that a Collateral Default Event does not occur, additional interest shall be payable in respect of each nominal amount of Securities equal to the Calculation Amount on the Postponed Maturity Date in an amount equal to such Securities' pro rata share of any interest received in respect of the Collateral by or on behalf of the Issuer in respect of such period of postponement.
Investors should note that the Maturity Date may be postponed if the Calculation Agent determines that a Potential Collateral Default Event (being an event which, with the passing of time, could constitute a Collateral Default Event) has occurred and is continuing as of the Scheduled Maturity Date.
The Maturity Date may be postponed if in the determination of the Calculation Agent a Potential Collateral Default Event has occurred and is continuing as of the Scheduled Maturity Date.
Each of a Collateral Default Event, a Regulatory Redemption Event, a Tax Event, a Credit Event Redemption Event and a Swap Event shall be an " Early Redemption Event".
None of the Issuer, the Calculation Agent, the Swap Counterparty, the Principal Paying Agent or the Trustee shall have any duty or responsibility to investigate or check whether any Collateral Default Event has occurred.

More Definitions of Collateral Default Event

Collateral Default Event means the occurrence of a default, event of default or other similar event or circumstance under the terms of the Collateral (howsoever described and including, without limitation, a failure to pay any principal or interest when and where due in accordance with the terms of the Collateral as at the Issue Date or, if later, the date on which such Collateral become the Collateral).".

Collateral Default Event means, in respect of a series of Secured Securities, any Reference Collateral Asset in the Collateral Pool which secures such series of Secured Securitiesbecomes due and payable on a date prior to its stated maturity date for any reason (including by reason of default in payment) or where the Reference Collateral Asset is a cash deposit, there is a failure by the bank with which such deposit is held to pay any amount in respect of such deposit or the deposit becomes repayable on a date prior to its stated repayment date for any reason; (c) The following definition shall be deemed to have been inserted in W&C Security Condition 15.1 after the definition of Hedging Disruption and before the definition of Hedging Shares:

Collateral Default Event means an event of default under the terms and conditions of the Collateral Securities.

Collateral Default Event means a default, event of default or other similar event or circumstance occurs with respect to the Collateral (howsoever described and including, without limitation, a failure to pay any principal or interest when and where due in accordance with the terms of the Collateral as at the Issue Date and further provided that if any of the Collateral comprises asset-backed securities, then any deferral of interest or other payment thereunder in accordance with its terms shall not constitute a “default”).

Collateral Default Event means the occurrence of either (or both of) a Collateral Early Redemption or Collateral Default pursuant to (and each as defined in) Note Condition 7(c)(ii).