Credit Event Determination Date definition
Examples of Credit Event Determination Date in a sentence
Following a Credit Event Determination Date, subject to the Cash Settlement procedures and the Physical Settlement procedures, if applicable, the Issuer is entitled to select one or more Valuation Obligations for delivery (or, if Cash Settlement applies, for valuation) which has the lowest value in the market at the relevant time, provided such obligation satisfies certain specifications and limits for qualification as a Valuation Obligation.
If a Credit Event occurs then the Credit Event Determination Date will be taken to be the Maturity Date of the Units and Investors will receive a Final Value calculated as set out in the relevant Term Sheet and will not be entitled to any further Coupons (including any accrued but unpaid Coupons).
In such case, if a Credit Event Determination Date does not occur on or prior to the last day of the Notice Delivery Period, as extended, then the Credit Linked Notes will be redeemed at the amount specified in Credit Linked Provision 2.1 (Redemption at scheduled maturity) on the earlier of (i) the date falling five Business Days following the expiry of the Notice Delivery Period and (ii) the date (the "Final Stated Maturity Date") falling 2 years after the Scheduled Maturity Date.
Such delay could continue for a substantial period of time and maturity of the Credit Linked Notes could be postponed significantly after the Scheduled Maturity Date, and no additional compensation (including any interest) will be paid to Noteholders for any period after the interest payment date immediately prior to the Credit Event Determination Date or the Scheduled Maturity Date.
If a Credit Event Determination Date occurs (or, if the Calculation Agent so elects, is subsequently deemed by a CDDC to have occurred) during the Notice Delivery Period, then the Credit Linked Notes will be redeemed in accordance with the following.