Examples of Earliest Maturing Covered Bonds in a sentence
Earliest Maturing Covered Bonds means, at any time, the Series of Covered Bonds that has or have the earliest Maturity Date (if the relevant Series of Covered Bonds is not subject to an Extended Maturity Date) or Extended Maturity Date (if the relevant Series of Covered Bonds is subject to an Extended Maturity Date) as specified in the relevant Final Terms.
Following service of a Notice to Pay, if Purchasers accept the offer or offers from the Fund so that some or all of the Selected Loans and their Related Security shall be sold prior to the Final Maturity Date of the Earliest Maturing Covered Bonds, then the Fund will, subject to Clause 15.9, enter into a sale and purchase agreement with the relevant Purchasers which will require inter alia a cash payment from the relevant Purchasers.
Earliest Maturing Covered Bonds means, at any time, the Series of the Covered Bonds (other than any Series which is fully collateralised by amounts standing to the credit of the Transaction Account) that has or have the earliest Final Maturity Date as specified in the applicable Final Terms (ignoring any acceleration of amounts due under the Covered Bonds prior to an Event of Default) or Extended Final Maturity Date, as applicable.
Where a Notice to Pay has been served, except in circumstances where the portfolio of Selected Loans is being sold within six months of the Final Maturity Date of the Earliest Maturing Covered Bonds, the sale price of the Partial Portfolio (as a proportion of the Required Redemption Amount) shall be at least equal to the proportion that the Partial Portfolio bears to the relevant portfolio of Selected Loans.
Following service of a Notice to Pay, in addition to offering Selected Loans for sale to Purchasers in respect of the Earliest Maturing Covered Bonds, the Fund (subject to the right of pre-emption in favour of the Seller pursuant to Clause 10 of the Mortgage Sale Agreement) is permitted to offer for sale a portfolio of Selected Loans, in accordance with this Clause 15, in respect of other Series of Covered Bonds.
The Asset Monitor Agreement provides that the CBC shall sell or refinance Selected Receivables following the service of a Notice to Pay and an Issuer Acceleration Notice, but prior to the service of a CBC Acceleration Notice, if on any date the Earliest Maturing Covered Bonds have, an Extended Due for Payment Date which falls within twelve months of such date, or such longer term as the Trustee may approve.
Following service of a Notice to Pay, in addition to offering Selected Loans for sale to Purchasers in respect of the Earliest Maturing Covered Bonds, the LLP (subject to the right of pre-emption in favour of the Seller pursuant to clause 9 of the Mortgage Sale Agreement) is permitted to offer for sale a portfolio of Selected Loans, in accordance with this Clause 20, in respect of other Series of Covered Bonds.
Once the then Earliest Maturing Covered Bonds are repaid in full, the above will then apply to the next Earliest Maturing Covered Bonds.
The proceeds from any such sale will be credited (net of the cost connected to the sale of such Selected Assets) to the Transaction Account and applied to redeem the relevant Pass Through Series and the Earliest Maturing Covered Bonds, as set out in the Post Issuer Event of Default Priority of Payments.
Earliest Maturing Covered Bonds means, at any time, the Series of the Covered Bonds (other than any Series which is fully collateralised by amounts standing to the credit of the Transaction Account) that has or have the earliest Final Maturity Date as specified in the applicable Final Terms (ignoring any acceleration of amounts due under the Covered Bonds prior to an Event of Default).