Covered Bond Guarantee definition

Covered Bond Guarantee means the guarantee issued by the Guarantor for the purpose of guaranteeing the payments due by the Issuer to the Covered Bondholders and the Other Issuer’s Creditors, in accordance with the provisions of the Securitisation and Covered Bond Law, Decree No. 310 and the Bank of Italy Regulations.
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Covered Bond Guarantee has the meaning given to it in Clause 7 of the Trust Deed;
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Covered Bond Guarantee. Payment of Guaranteed Amounts in respect of the Covered Bonds when Due for Payment will be irrevocably guaranteed by the Covered Bond Guarantor under the Covered Bond Guarantee. The Covered Bond Guarantor will be under no obligation to make payment in respect of the Guaranteed Amounts when Due for Payment unless (a) an Issuer Event of Default has occurred, and a Notice to Pay is served on the Covered Bond Guarantor or, (b) a Covered Bond Guarantor Event of Default has occurred and a Covered Bond Guarantee Acceleration Notice is served on the Covered Bond Guarantor, the Issuers and the Guarantor. The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee will accelerate against the Covered Bond Guarantor and the Guaranteed Amounts will become immediately due and payable upon the service of a Covered Bond Guarantee Acceleration Notice. The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee constitute direct obligations of the Covered Bond Guarantor secured against the assets from time to time of the Covered Bond Guarantor and recourse against the Covered Bond Guarantor is limited to such assets.
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Examples of Covered Bond Guarantee in a sentence

  • Under the terms of the Intercompany Loan Agreement, the Issuer in its capacity as lender under the Intercompany Loan Agreement (the “Intercompany Loan Provider”) has agreed to make available to the Covered Bond Guarantor and the Covered Bond Guarantee Beneficiary the Intercompany Loan in an amount up to the Intercompany Loan Facility Amount.

  • Each Series of Covered Bonds is the subject of a guarantee dated 22 July 2014 (the "Covered Bond Guarantee") entered into by the Guarantor for the purpose of guaranteeing the payments due from the Issuer in respect of the Covered Bonds of all Series issued under the Programme and to the Other Issuer Creditors.

  • The Issuer’s website is located at https://www.dbs.com.STRUCTURE OVERVIEW This Structure Overview describes the Programme, including the Covered Bonds, the Covered Bond Guarantee and related documents, in general terms only and does not purport to be complete and is taken from, and is qualified in its entirety by, the remainder of this Offering Circular and, in relation to the terms and conditions of any particular Series or Tranche of Covered Bonds, the applicable Pricing Supplement.

  • In all circumstances, repayment of the Demand Loan will rank ahead of payments under the Covered Bond Guarantee.

  • Amounts owed by the Covered Bond Guarantor under the Guarantee Loan will be subordinated to amounts owed by the Covered Bond Guarantor under the Demand Loan and, following the service of a Notice to Pay or a Covered Bond Guarantor Acceleration Notice, the Covered Bond Guarantee.

  • The Covered Bond Guarantee will be collateralised by a cover pool constituted by certain assets assigned from time to time to the Guarantor pursuant to the Master Loans Purchase Agreement (as defined below) and in accordance with the provisions of the Securitisation and Covered Bond Law and the Bank of Italy Regulations.

  • If the Lending Criteria change in a manner that affects the creditworthiness of the Loans, that may lead to increased defaults by Borrowers and/or the Mortgagors and may affect the realisable value of the Portfolio, or part thereof, and the ability of the Covered Bond Guarantor to make payments under the Covered Bond Guarantee.

  • In its capacity as Servicer, DBS Bank has entered into the Servicing Agreement with the Covered Bond Guarantor, the Covered Bond Guarantee Beneficiary, the Seller, the Assets Trustee and the Security Trustee, pursuant to which the Servicer has agreed to provide administration and management services in respect of the Loans and their Related Security sold by DBS Bank (in its capacity as Seller) to the Covered Bond Guarantor.

  • The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee constitute direct, unsubordinated and (following the service of a Notice to Pay on the Covered Bond Guarantor or, if earlier, the service on the Issuer and the Covered Bond Guarantor of a Covered Bond Guarantor Acceleration Notice) unconditional obligations of the Covered Bond Guarantor, secured as provided in the Deeds of Charge.

  • See “Summary of the Principal Documents — Intercompany Loan Agreement” for these conditions.The Subordinated Loan is subordinated to, inter alia, payments of principal and interest on the Intercompany Loan and the Covered Bond Guarantee, and all other payments or provisions ranking in priority to payments to be made to the Subordinated Loan Provider, in each case in accordance with the applicable Priority of Payments.


More Definitions of Covered Bond Guarantee

Covered Bond Guarantee means the guarantee provided by the Guarantor pursuant to the terms of clause 7 of the Trust Deed;
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Covered Bond Guarantee has the meaning specified in recital (A) hereof;
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Covered Bond Guarantee means the guarantee issued by the Guarantor for the purpose of guaranteeing the payments due by the Issuer to the Covered Bondholders and the Other Issuer’s Creditors, in accordance with the provisions of the Law 130, as amended from time to time, and the BoI Regulations.
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Covered Bond Guarantee. Payment of Guaranteed Amounts in respect of the Covered Bonds when Due for Payment will be irrevocably guaranteed by the Covered Bond Guarantor under the Covered Bond Guarantee. The Covered Bond Guarantor will be under no obligation to make payment in respect of the Guaranteed Amounts when Due for Payment unless (i) an Issuer Event of Default has occurred, an Issuer Acceleration Notice is served on the Relevant Issuer and the Guarantor and a Notice to Pay is served on the Covered Bond Guarantor, or (ii) a Covered Bond Guarantor Event of Default has occurred and a Covered Bond Guarantee Acceleration Notice is served on the Covered Bond Guarantor, the Issuers and the Guarantor. Subject to its obligation to deliver a Notice to Pay, the Bond Trustee is entitled to enforce the Covered Bond Guarantee following an Issuer Event of Default without first proceeding against the Guarantor. The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee will accelerate against the Covered Bond Guarantor and the Guaranteed Amounts will become immediately due and payable upon the service of a Covered Bond Guarantee Acceleration Notice. The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee constitute (following service of a Notice to Pay or a Covered Bond Guarantee Acceleration Notice) direct, unconditional and unsubordinated obligations of the Covered Bond Guarantor secured against the assets from time to time of the Covered Bond Guarantor as provided in the Security Deed and recourse against the Covered Bond Guarantor is limited to such assets. Ratings: Each Series of Covered Bonds to be issued under the Programme will, unless otherwise specified in the applicable Final Terms, be rated "Aaa" by Moody's and "AAA" by Fitch. A credit rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time by the assigning Rating Agency. There is no obligation on the Issuer to maintain the credit ratings in respect of any Series of Covered Bonds. Each Series of Covered Bonds is expected on issue to be assigned a credit rating by each Rating Agency. The credit rating of certain Series of Covered Bonds to be issued under the Programme will be specified in the applicable Final Terms. Listing and admission to trading: Application has been made to the UK Listing Authority for Covered Bonds issued under the Programme to be admitted to, during the period of 12 months from the date of...
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Covered Bond Guarantee has the meaning given to such term in the trust deed dated on or about the date hereof between the Acquirer, the Guarantor and the Bond Trustee (as amended, supplemented or modified from time to time);
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Related to Covered Bond Guarantee

  • Covered Bonds means any and all the covered bonds (obbligazioni bancarie garantite) issued or to be issued by the Issuer pursuant to the terms and subject to the conditions of the Programme Agreement.

  • Guarantee Agreement means the Guarantee Agreement executed by the Company and Wilmington Trust Company, as Guarantee Trustee, contemporaneously with the execution and delivery of this Indenture, for the benefit of the holders of the Preferred Securities, as modified, amended or supplemented from time to time.

  • Guarantee used as a verb has a corresponding meaning.

  • guarantee contract means a contract entered into by a person as guarantor;

  • Subsidiary Guarantee means the guarantee of the Notes by each Subsidiary Guarantor under this Indenture.

  • Guaranty Agreement means an agreement executed by the Guarantors in substantially the form of Exhibit F-2 unconditionally guarantying on a joint and several basis, payment of the Indebtedness, as the same may be amended, modified or supplemented from time to time.