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. Initial Treasury Benchmark: 4.125% UST due March 31, 2029 Initial Treasury Benchmark Price: 97-27+ Initial Treasury Yield: 4.613% Initial Re-Offer Spread to Treasury Benchmark: T + 288.7bps Interest to Initial Interest Reset Date: 7.500% Yield to Initial Interest Reset Date: 7.500% Fees: 1.000% Redemption: The Notes shall be redeemable by the Bank on the Initial Interest Reset Date and on each February 2, May 2, August 2, and November 2 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”). Upon redemption by the Bank of the Preferred Shares held by the LRT Trustee as described above 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, for a cash amount equal to the Redemption Price thereof, without the consent of the Noteholders.
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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 in cash and has not cured such non-payment by subsequently paying such interest in cash prior to such fifth business day. Credit Spread:2 +274.7 bps over the GoC Curve (CAN 1.00% 01SEP2026 &CAN 1.00% 01JUN2027)
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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. 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 or OSFI’s Capital Adequacy Requirements (CAR) Guideline. Credit Spread(2): +413.7 bps over the GoC Curve (CAN 0.5% 1SEP25 & CAN 1.5% 1JUN26) Yield to Interest Reset Date: 4.50% Issue Price: C$1,000.00 Redemption: The Notes shall be redeemable by the Bank every five years during the periodfrom October 24 to and including November 24, commencing in 2025, only upon the redemption by the Bank of the Preferred Shares held by the LRT Trustee (defined below) in the Limited Recourse Trust in accordance with the terms of such shares and with the prior written approval of the Superintendent of Financial Institutions (Canada) (the “Superintendent”), in whole but not in part on not less than 15 nor more than 60 days’ prior notice, at the Redemption Price. Upon redemption by the Bank of the Preferred Shares held by the LRT Trustee as described above 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, for a cash amount equal to the Redemption Price thereof, without the consent of the Noteholders. Subject to the provisions of the Bank Act, the consent of the Superintendent and various restrictions on the retirement of the Preferred Shares, the Preferred Shares are redeemable at the option of the Bank during the period from October 24, 2025 to and including November 24, 2025 and during the period from October 24 to and including November 24 every fifth year thereafter and in certain other circumstances.See the Final Term Sheet for the Preferred Shares attached as Annex A (the “Preferred Share Final Term Sheet”) for circumstances under which the Preferred Shares may be redeemed by the Bank. For certainty, to the extent that the Bank has immediately prior to or concurrently with such Preferred Share redemption redeemed or purchased for cancellation a corresponding number of Notes in accordance with the terms of the Trust Indenture (defined...
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Related to Failed Coupon Payment Date

  • Coupon Payment Date means each day specified to be an Coupon Payment Date in the Product Terms.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Redemption Payment Date As defined in Section 13.1.

  • Series A Distribution Payment Date has the meaning assigned to such term in Section 5.11(b)(i)(A).

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

  • Loan Payment Date means any date on which any Bond Service Charges are due and payable.

  • Swap Payment Date For so long as the Swap Agreement is in effect or any amounts remain unpaid thereunder, the Business Day immediately preceding each Distribution Date.

  • Non-Payment Period means a period commencing on and including a Dividend Payment Date or redemption date for which the Trust shall fail to (i) declare, prior to the close of business on the second Business Day preceding such Dividend Payment Date, for payment on or (to the extent permitted by Section 11.2(c)(i) of these Bylaws) within three Business Days after such Dividend Payment Date to the Holders as of 12:00 noon, New York City time, on the Business Day preceding such Dividend Payment Date, the full amount of any dividend on APS payable on such Dividend Payment Date, provided, however, that if the Trust is not able to make such declaration in compliance with the foregoing because an unforeseen event or unforeseen events causes or cause a day that otherwise would have been a Business Day not to be a Business Day, then the Trust may make such declaration on the Business Day immediately preceding the Dividend Payment Date, if possible, or, if not possible, on the Dividend Payment Date, and in such case the Trust shall not be deemed to have failed to declare a dividend otherwise required to be declared, or (ii) deposit, irrevocably in trust, in same-day funds, with the Auction Agent by 12:00 noon, New York City time, (A) on such Dividend Payment Date the full amount of any cash dividend on such shares payable (if declared) on such Dividend Payment Date or (B) on any such redemption date for any shares of APS called for redemption, the Mandatory Redemption Price per share of such APS or, in the case of an optional redemption, the Optional Redemption Price per share, and ending on and including the Business Day on which, by 12:00 noon, New York City time, all unpaid cash dividends and unpaid redemption prices shall have been so deposited or shall have otherwise been made available to Holders in same-day funds; provided that, a Non-Payment Period shall not end unless the Trust shall have given at least five days’ but no more than 30 days’ written notice of such deposit or availability to the Auction Agent, all Existing Holders (at their addresses appearing in the Share Books) and the Securities Depository. Notwithstanding the foregoing, the failure by the Trust to deposit funds as provided for by clauses (ii)(A) or (ii)(B) above within three Business Days after any Dividend Payment Date or redemption date, as the case may be, in each case to the extent contemplated by Section 11.2(c)(i) of these Bylaws, shall not constitute a “Non-Payment Period.”

  • Excess Cash Payment Date means the date occurring 95 days after the last day of each Fiscal Year of Holdings (commencing with the Fiscal Year of Holdings ended December 31, 2010).

  • Fixed Coupon Amount means the amount specified as such in the relevant Final Terms.

  • Principal Payment Date means, if applicable, each date designated as such in the Series Term Sheet.

  • Coupon Amount means (i) in respect of a Coupon Payment, the amount of interest payable on a Security for the relevant Coupon Period in accordance with Condition 5 and (ii) for the purposes of Conditions 8(c) and 8(d), any interest accrued from (and including) the preceding Coupon Payment Date (or, if none, the Issue Date) to (but excluding) the due date for redemption if not a Coupon Payment Date as provided for in Condition 5(b);

  • Payment Day means a day (other than a Saturday or Sunday) on which commercial banks and foreign exchange markets are open for business (including dealings in foreign exchange and foreign exchange currency deposits) in the principal financial centre for the Settlement Currency or if the Settlement Currency is euro, any day on which the Trans-European Automated Real-time Gross settlement Express Transfer (TARGET) System is open;

  • Note Payment Date means any date on which principal of or interest on any Note is payable.

  • Payment Date means, with respect to each Collection Period, the 22nd day of the calendar month following the end of that Collection Period, or, if such day is not a Business Day, the next Business Day, commencing on April 23, 2012.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

  • Rent Payment Date means each date on which an installment of rent is due and payable pursuant to Section 5(a) hereof.

  • Special Payment Date means each Distribution Date with respect to the Early Amortization Period.

  • Initial Payment Date has the meaning specified in Section 3 of this Supplement.

  • Monthly Payment Date means the Payment Date (as defined in the Mortgage Loan Documents).