Failed Coupon Payment Date definition

Failed Coupon Payment Date means the fifth Business Day immediately following an Interest Payment Date upon which the Bank does not pay interest on the Notes, and has not cured such non-payment by subsequently paying such interest prior to such fifth Business Day.

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Failed Coupon Payment Date means the fifth business day immediately following an interest payment date upon which the Bank does not pay interest on the Notes and has not cured such non-payment by subsequently paying such interest prior to such fifth business day. The Bank will not redeem the Notes under any circumstances if such redemption would, directly or indirectly, result in the Bank’s breach of any provision of the Bank Act (Canada) or the Office of the Superintendent of Financial Institutions (Canada) (“OSFI”) Capital Adequacy Requirements (CAR) Guideline. Treasury Benchmark: 3.875% UST due December 31, 2032 and 4.000% UST due November 15, 2035 Treasury Benchmark Price: 99-04 and 98-05+ Interpolated Treasury Yield: 4.050% Re-Offer Spread to Treasury Benchmark: T + 245.0bps Interest to Initial Interest Reset Date: 6.500% Yield to Initial Interest Reset Date: 6.500% Fees: 1.000% Redemption: The Notes shall be redeemable by the Bank on the Initial Interest Reset Date and on each February 24, May 24, August 24, and November 24 thereafter, in whole but not in part on not less than 10 nor more than 60 days’ prior notice at the Redemption Price, only upon the redemption by the Bank of the Preferred Shares held by the LRT Trustee (as defined below) in the Limited Recourse Trust (as defined below) in accordance with the terms of such shares and with the prior written approval of the Superintendent of Financial Institutions (Canada) (the “Superintendent”).

Failed Coupon Payment Date means the fifth business day immediately following an Interest Payment Date upon which the Bank does not pay interest on the Notes in cash and has not cured such non-payment by subsequently paying such interest in cash prior to such fifth business day. Initial Benchmark Treasury: UST 3.500% due September 30, 2029 UST 3.625% due September 30, 2031 Initial Benchmark Treasury Price / Yield: 97-10 ¾ / 4.103% 96-21 / 4.186% Interpolated Treasury Yield: 4.1166% Initial Re-Offer Spread to Initial Benchmark Treasury (Interpolated): +283.3 bps Initial Re-Offer Yield: 6.950% Price to Public: 100.000% Underwriting Commission: 1.000% per US$1,000 principal amount of Notes Day Count/Business Day Conventions: 30/360; Following, Unadjusted Business Day: New York, New York and Toronto, Ontario Redemption: The Bank may, at its option, with the prior written approval of the Superintendent of Financial Institutions (Canada) (the “Superintendent”) and without the consent of Noteholders, on not less than 10 days’ and not more than 60 days’ prior notice to the registered holders, redeem the Notes, in whole or in part from time to time, on the Initial Reset Date and on each January 28, April 28, July 28 and October 28 thereafter, at the Redemption Price. The Bank may, with the prior written approval of the Superintendent and without consent of Noteholders, on not less than 10 days’ and not more than 60 days’ prior written notice to the registered holders, redeem the Notes, in whole but not in part, (i) at any time following a Regulatory Event Date (as defined in the Preliminary Prospectus Supplement), or (ii) at any time following the occurrence of a Tax Event Date (as defined in the Preliminary Prospectus Supplement), in each case at the Redemption Price. Upon any redemption by the Bank of the Preferred Shares (as defined below) held in the Limited Recourse Trust (as defined below) in accordance with their terms prior to the Maturity Date (such redemption will be subject to the prior written approval of the Superintendent), outstanding Notes with an aggregate principal amount equal to the aggregate face amount of Preferred Shares redeemed by the Bank shall automatically and immediately be redeemed, on a full and permanent basis, for a cash amount equal to the Redemption Price, without any action on the part of, or the consent of, the Noteholders. See the Final Term Sheet for the Preferred Shares attached hereto (the “Preferred Share Term Sheet”) for circumstances under which th...

More Definitions of Failed Coupon Payment Date

Failed Coupon Payment Date means the fifth business day immediately following an Interest Payment Date upon which the Bank does not pay interest on the Notes and has not cured such non-payment by subsequently paying such interest prior to such fifth business day. Initial Benchmark Treasury: UST 4.375% due May 15, 2034 Initial Benchmark Treasury Yield: 4.290% Initial Re-Offer Spread to Benchmark Treasury: +301.0 bps Initial Re-Offer Yield: 7.300% Day Count / Business Day Convention: 30/360; Following, Unadjusted Redemption: The Notes may be redeemed, at the option of the Bank, with the prior written approval of the Superintendent of Financial Institutions (Canada) (the “Superintendent”) and without the consent of the Noteholders, in whole or in part, on not less than 10 days’ and not more than 60 days’ prior notice to the registered Noteholders, on the Initial Interest Reset Date and on each February 26, May 26, August 26 and November 26 thereafter, at the Redemption Price (as defined below) (an “Optional Redemption”). The Bank may also, at its option, with the prior written approval of the Superintendent and without the consent of the Noteholders, redeem the Notes, in whole but not in part, on not less than 10 days’ and not more than 60 days’ prior notice to the registered Noteholders (i) at any time following a Regulatory Event Date (as defined in the Prospectus Supplement), or (ii) at any time following the occurrence of a Tax Event Date (as defined in the Prospectus Supplement), in each case at the Redemption Price (a “Special Event Redemption”).