Loss Absorbing Instruments means, at any time, any instrument (other than the Securities) issued directly or indirectly by the Issuer which qualifies as Additional Tier 1 Capital of the Issuer on a consolidated basis and has terms pursuant to which all or some of its principal amount may be written- down (whether on a permanent or temporary basis) or converted into equity (in each case in accordance with its conditions) on the occurrence, or as a result, of the Consolidated CET1 Ratio falling below a certain trigger level.
Loss Absorbing Instruments means any notes, securities or other instruments issued, entered into, or guaranteed by the Issuer that constitute “LAC debt instruments” under the Loss Absorbing Capacity Rules.
Loss Absorbing Instruments means capital instruments or other obligations of any company within the Resurs Consolidated Situation (other than the Notes) which include a principal loss absorption mechanism that is capable of generating CET1 Capital and that is activated by a trigger event set by reference to the CET1 ratio of the Resurs Consolidated Situation.
Examples of Loss Absorbing Instruments in a sentence
Any Loss Absorbing Instruments that may be written down or converted to equity in full (save for any one cent floor) but not in part only shall be treated for the purposes only of determining the relevant pro rata amounts in Condition 7.1(c)(ii) (Cancellation of interest and Principal Write-down) and 7.1(d)(i) (Write-down Amount) as if their terms permitted partial write-down or conversion into equity.
To the extent the write down and/or conversion of any Loss Absorbing Instruments for the purpose of Clause 11.1.4 is not possible for any reason, this shall not in any way prevent any write-down of the Notes.
Instead, in such circumstances, the Notes will be written down and the Write Down Amount determined as provided above but without including for the purpose of Clause 11.1.4 any CET1 Capital in respect of the write down or conversion of such Loss Absorbing Instruments, to the extent it is not possible for them to be written down and/or converted.
More Definitions of Loss Absorbing Instruments
Loss Absorbing Instruments means capital instruments or other obligations of the Issuer (other than the Notes) which include a principal loss absorption mechanism that is capable of generating CET1 Capital and that is activated by a trigger event set by reference to the CET1 ratio of the Issuer and/or the CET1 ratio of the Issuer Consolidated Situation.
Loss Absorbing Instruments means capital instruments or other obligations issued directly or indirectly (if any) by any member of the Group (other than the Securities) which qualify as Additional Tier 1 Capital of the Group and which include a principal loss absorption mechanism that is capable of generating Common Equity Tier 1 Capital and that is activated by a trigger event set by reference to the CET1 Ratio;
Loss Absorbing Instruments means capital instruments or other obligations of the Bank (other than the Securities) and which include a principal loss absorption mechanism that is capable of generating Common Equity Tier 1 Capital and that is activated by a trigger event set by reference to the CET1 Ratio of the Bank and/or the CET1 Ratio of the Group;
Loss Absorbing Instruments means, at any time, any instrument (other than the Notes) issued by the Issuer, any member of the Group or any member of the PC Group which qualifies (or would qualify after any write-up pursuant to its terms) as Additional Tier 1 Capital of the Issuer, the Group and/or the PC Group on a solo or consolidated basis and has terms pursuant to which all or some of its principal amount may be written-down (whether on a permanent or temporary basis) or converted into equity (in each case in accordance with its conditions or otherwise) on the occurrence, or as a result, of the Issuer’s Solo CET1 Ratio, the Consolidated CET1 Ratio of the Group or the Consolidated CET1 Ratio of the PC Group falling below a certain trigger level.
Loss Absorbing Instruments means at any time any obligation or instrument (other than the Notes) of the Issuer which include a loss absorption mechanism that is activated by an equivalent to the Trigger Event in all material respects and/or has a different threshold for such activation and has been activated on or prior to the relevant Trigger Event;
Loss Absorbing Instruments means at any time any instruments or trust certificates that are outstanding at the time of such Write-down (other than the Certificates and the Ordinary Shares) issued directly or indirectly by the Mudareb which at such time (a) are Pari Passu Obligations and qualify as Tier 1 Capital of the Bank; and (b) also provide for all or some of their principal amount to be written-down (in accordance with their conditions or otherwise) on the occurrence, or as a result, of a Non-Viability Event or substantially similar event; and Tier 2 Capital means capital qualifying as, and approved by the Regulator as, tier 2 capital in accordance with the Capital Regulations.
Loss Absorbing Instruments means, at any time, any instrument issued directly or indirectly by the Issuer and/or Group which qualifies as Additional Tier 1 Capital of the Issuer (on a solo- consolidated basis or sub-consolidated basis) and/or Group (on a consolidated basis) and which has terms pursuant to which all or some of its principal amount may be written-down (whether on a permanent or temporary basis) or converted into equity (in each case in accordance with its conditions or otherwise) on the occurrence, or as a result, of the Issuer solo-consolidated CET1 Ratio and/or the Issuer sub-consolidated CET1 Ratio and/or the Group CET1 Ratio falling below a certain trigger level. As at the Issue Date, there are no Loss Absorbing Instruments outstanding.