Examples of Financial Undertakings Act in a sentence
The Covered Bonds are unsubordinated obligations issued in accordance with Act No. 17 of 10 April 2015 on Financial Undertakings and Financial Groups, Chapter 11, Sub-chapter II (the "Financial Undertakings Act") and appurtenant regulations and rank pari passu among themselves and with all other obligations of the Issuer that have been provided the same priority as debt instruments issued pursuant to the Financial Undertakings Act.
Section 301(f) of the VTL authorizes the Commissioner to promulgate regulations to implement a heavy duty vehicle inspection.
For so long as the Covered Bonds are outstanding, the value (as calculated in accordance with the Financial Undertakings Act and appurtenant regulations) of the Cover Pool entered into the Register with respect to the Covered Bonds shall at all times be a minimum of 102 per cent.
In accordance with the Financial Undertakings Act, the Bonds, together with any other assets as set out in Clause 3.2 (Status) which are registered in the Cover Pool Register at any time, shall in the event of bankruptcy, negotiation of debt under the Bankruptcy Act, winding up of the Issuer or public administration of the Issuer, have an exclusive, equal and proportional preferential claim over the Cover Pool.
The calculation shall establish the present value of the relevant claim, as duly discounted in accordance with the terms of the Financial Undertakings Act and the Financial Undertakings Regulations.
To the extent that claims in relation to the Covered Bonds, the VPS Covered Bonds and relating derivativecontracts are not met out of the assets of the Issuer that are covered in accordance with the Financial Undertakings Act, the residual claims will rank pari passu with the unsecured and unsubordinated obligations of the Issuer.
The Notes are covered bonds (obligasjoner med fortrinnsrett) issued by Eika Boligkreditt AS (the Issuer) in accordance with Chapter 11, Sub-chapter II of the Norwegian Financial Undertakings Act of 2015 (lov 10.
For so long as the VPS Covered Bonds are outstanding, the value (as calculated in accordance with the Financial Undertakings Act and appurtenant regulations) of the Cover Pool entered into the Register with respect to the VPS Covered Bonds and any Covered Bonds which are not VPS Covered Bonds shall at all times be a minimum of 102 per cent.
If at any time the Bonds are Written Down pursuant to Chapter 21 sub-chapter I of the Financial Undertakings Act, the Nominal Amount by which the Bonds are so written down pursuant to the Financial Undertakings Act shall not be reinstated (whether by way of Discretionary Reinstatement or otherwise) in any circumstances, and references herein to a Discretionary Reinstatement up to (or not exceeding) the Initial Nominal Amount shall be construed as the Nominal Amount following the Write Down.
Risks relating to the covered bonds Covered Bonds are obligations of the Issuer onlyThe Covered Bonds constitute obligations of the Issuer only, which have the benefit of a statutory preference under Chapter 11, Sub-chapter II of the Financial Undertakings Act in the Issuer Cover Pool.