Loss Absorption definition

Loss Absorption means any exchange for or conversion into ordinary shares or writing-off in respect of any Relevant Tier 1 Securities in accordance with their terms or by operation of law on the occurrence of an Automatic Exchange Event (including an Exchange or Write-Off of Securities);
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Loss Absorption means any conversion or exchange (by whatever method) into ordinary shares or writing-off of that security in accordance with their terms or by operation of law when APRA gives a notice triggering a Non-Viability Event (including an Exchange or Write-Off of Subordinated Notes);
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Loss Absorption means the proportion by which the outstanding nominal or principal amount of an instrument is reduced by means of conversion into equity, write-down, write-off or otherwise;
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Examples of Loss Absorption in a sentence

  • The Notes may be redeemed at the option of the Issuer (subject to the provisions of Condition 6(g) and 6(h)) in whole, but not in part, at any time at their principal amount together with unpaid interest accrued to (but excluding) the date of redemption, on giving not less than 15 nor more than 45 days’ notice in accordance with Condition 12 (which notice shall be irrevocable), if the Issuer determines that a Loss Absorption Disqualification Event has occurred.

  • In any case where the Issuer shall determine that as a result of the occurrence of a Loss Absorption Disqualification Event it is entitled to exercise the Loss Absorption Disqualification Event Call Option in respect of any series of Senior Debt Securities, the Issuer shall be required to deliver to the Trustee an Officer’s Certificate stating that the relevant requirement or circumstance referred to in this Section 11.09 applies.

  • If a Loss Absorption Disqualification Event has occurred and is continuing, the Issuer may exercise the Loss Absorption Disqualification Event Call Option, having given not less than 30 nor more than 60 days’ notice to the Trustee, the Paying Agent, the Holders and the Registrar (which notice shall be irrevocable and shall specify the Loss Absorption Disqualification Redemption Date).

  • No action taken pursuant to this Section 10 shall relieve any defaulting Underwriter (or any Underwriter no longer obligated to purchase the Underwritten Securities in accordance with the exercise of Statutory Loss Absorption Powers described in Section 17 hereof) from liability in respect of its failure or default.

  • By its acquisition of the Notes, each Holder (which, for these purposes, includes each beneficial owner) acknowledges, accepts, consents and agrees to be bound by the variation of the Events of Default and Defaults on the occurrence of a Loss Absorption Disqualification Event (including as may occur without any prior notice from the Company), without the need for the Company to obtain any further consent from such Holder.

  • Conditions to redemption of the Dated Subordinated Notes and, if applicable, Senior Notes issued by Santander UK Group Holdings: Any optional redemption or purchase by Santander UK Group Holdings of Dated Subordinated Notes (and/or Senior Notes issued by Santander UK Group Holdings, if applicable pursuant to any Loss Absorption Regulations) is subject to Santander UK Group Holdings having obtained Regulatory Approval and being in compliance with the Regulatory Preconditions.

  • Notwithstanding any other provision of “Benchmark Transition Provisions” set forth above, no Benchmark Replacement will be adopted, nor will the applicable Benchmark Replacement Adjustment be applied, nor will any Benchmark Replacement Conforming Changes be made, if in the Company’s determination, the same could reasonably be expected to prejudice the qualification of the Floating Rate Notes as eligible liabilities or loss absorbing capacity instruments for the purposes of the Loss Absorption Regulations.

  • The Trustee need not notify anyone of the execution of this Trust Deed or do anything to ascertain whether any Event of Default, Potential Event of Default, Capital Disqualification Event or Loss Absorption Disqualification Event has occurred and, until it has actual knowledge or express notice to the contrary, the Trustee may assume that no such event has occurred and that the Issuer is performing all its obligations under this Trust Deed.

  • Notwithstanding any provision or statement to the contrary in this Senior Debt Securities Indenture or the Senior Debt Securities, if required pursuant to any Loss Absorption Regulation, the Issuer may only redeem or repurchase any Senior Debt Securities prior to the Maturity Date if it has satisfied the Regulatory Redemption Conditions.

  • If the Notes are redeemable at the option of the relevant Issuer (including, if applicable, following a Loss Absorption Disqualification Event or Regulatory Capital Event (if specified in the applicable Final Terms) or a Tax Event), or are otherwise subject to mandatory redemption, the relevant Issuer may (in the case of optional redemption) or must (in the case of mandatory redemption) choose to redeem such Notes at times when prevailing interest rates may be relatively low.