Deferral Event definition

Deferral Event means, in respect of an Interest Payment Date, either a Missed Dividend Deferral Event or an Other Deferral Event.

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Deferral Event has the meaning ascribed to such term in the Assignment and Set-Off Agreement;

Deferral Event means an event which is outstanding if one or more Unsettled Credit Events are outstanding and/or one or more Potential Failure to Pay Notices and/or a Repudiation/Moratorium Extension Notices have been delivered under the Swap Agreement and are outstanding.

Examples of Deferral Event in a sentence

• Pursuant to the Assignment and Set-Off Agreement, upon a Deferral Event, TCPL has the right not to issue TCPL Deferral Preferred Shares to any Ineligible Person.

• Each Deferral Event Subscription shall be effected by the Trustee, acting pursuant to the Assignment and Set-Off Agreement, on behalf of the applicable Holders and TCPL.

• Promptly upon the occurrence of a Deferral Event, TCPL shall provide the Trustee with an executed Deferral Event Notice.

• If a Transfer of Units is so delayed, the Company will recognize and allow such Transfer on the first practicable date on which such Transfer can be made, in the opinion of Company counsel, without causing a Deferral Event.

• The Credit Supporter also hereby guarantees, on a subordinated basis as provided herein, the performance by the Trust of its obligations (if any) to and in favour of the Holders of the Trust Notes - Series 2016-A, pursuant to the Share Exchange Agreement (including in respect of the Automatic Exchange) and the Assignment and Set-Off Agreement (including in respect of the Deferral Event Subscription and the Deferral Event Subscription Proceeds Assignment).

More Definitions of Deferral Event

Deferral Event shall have the meaning set forth in Section 3.1(d) hereof.

Deferral Event shall have the meaning set forth in Section 9.2 hereof.

Deferral Event means the election by Emera, at its sole option, to defer the interest payable on the Notes.

Deferral Event. ’ means (i) the latest available audited unconsolidated financial statements of the Borrower prior to the applicable Interest Payment Date show no net profit in the profit and loss accounts of such financial statements for such financial year and (ii) no dividends are declared and paid by the Borrower during the financial year in which the applicable Interest Payment Date occurs. For the purposes of this Clause 6.7, the audited unconsolidated financial statements are to be prepared in accordance with IFRS.

Deferral Event means that, on or prior to the second Business Day prior to the Final Maturity Date, (i) the Swap Calculation Agent has received one or more Potential Credit Event Notices in respect of a Reference Obligation and has determined, in its sole and absolute discretion, that, following the occurrence of any Credit Event specified in such Potential Credit Event Notices, a Cash Settlement Amount could be payable under the terms of the CDS Agreement and/or (ii) an Unsettled Credit Event continues to exist.

Deferral Event means the occurrence of any of the following [delete as appropriate]6:

Deferral Event means any climate incident, natural disaster, pandemic or epidemic which in the opinion of Global Affairs Canada (acting in its sole discretion) has, or could reasonably be expected to have, an adverse impact on the Borrower's ability to repay the Loan.