Multiple Successor Credit Event definition

Multiple Successor Credit Event means that Multiple Successors have been identified and an Event Determination Date and Credit Event Trigger Date have occurred in respect of any such Multiple Successor.
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Examples of Multiple Successor Credit Event in a sentence

  • The Calculation Agent may make such modifications to the terms of this Transaction as it considers in its sole and absolute discretion necessary to preserve the economic effects of this Transaction after any Multiple Successor Credit Event or M(M)R Restructuring Credit Event in respect of which the Exercise Amount is less than the Floating Rate Payer Calculation Amount under the Credit Default Swap.

  • The Calculation Agent may make such modifications to the terms of this Transaction and any Remaining Credit Support Annex and Terminating Credit Support Annex as it considers in its sole and absolute discretion necessary to preserve the economic effects of this Transaction after any Multiple Successor Credit Event.

  • The Calculation Agent may make such modifications to the terms of this Transaction and any Remaining Credit Support Annex and Terminating Credit Support Annex as it considers in its sole and absolute discretion necessary to preserve the economic effects of this Transaction after any Multiple Successor Credit Event under the Credit Default Swap.

  • The Calculation Agent may make such modifications to the terms of this Transaction as it considers in its sole and absolute discretion necessary to preserve the economic effects of this Transaction after any Multiple Successor Credit Event under the Credit Default Swap.

Related to Multiple Successor Credit Event

  • LIBOR Successor Rate has the meaning specified in Section 3.03(c).

  • Successor Rate means a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body.

  • Credit Event shall have the meaning assigned to such term in Section 4.01.

  • Credit Event UPB means, with respect to any Credit Event Reference Obligation, the unpaid principal balance thereof as of the end of the Reporting Period related to the Payment Date that it became a Credit Event Reference Obligation.

  • Credit Event Net Loss With respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of (a) the sum of: (i) the related Credit Event UPB; (ii) the total amount of prior principal forgiveness modifications, if any, on the related Credit Event Reference Obligation; and (iii) delinquent accrued interest thereon, calculated at the related Current Accrual Rate from the related last paid interest date through the date Freddie Mac determines such Reference Obligation has been reported as a Credit Event Reference Obligation, over (b) the related Net Liquidation Proceeds.

  • Credit Event Net Gain With respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of (a) the related Net Liquidation Proceeds; over (b) the sum of (i) the related Credit Event UPB; (ii) the total amount of prior principal forgiveness modifications, if any, on the related Credit Event Reference Obligation; and (iii) delinquent accrued interest thereon, calculated at the related Current Accrual Rate from the related last paid interest date through the date Freddie Mac determines such Reference Obligation has been reported as a Credit Event Reference Obligation.

  • Pre-Adjustment Successor Rate has the meaning specified in Section 3.03(c).

  • LIBOR Successor Rate Conforming Changes means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement).

  • Successor Company shall have the meaning specified in Section 11.01(a).

  • Credit Event Notice means an irrevocable notice from the Issuer or the Swap Counterparty, as the case may be, to the other party (in the form and delivered in the manner described in the Default Swap) that describes a Credit Event that occurred on or after the Effective Date of the Default Swap.

  • Successor Holdings has the meaning assigned to such term in Section 6.03(a)(v).

  • Successor Benchmark Rate means a successor to or replacement of the Original Benchmark Rate which is formally recommended by any Relevant Nominating Body.

  • Credit Event Amount means, with respect to any Payment Date, the aggregate amount of the Credit Event UPBs of all Credit Event Reference Obligations for the related Reporting Period.

  • Successor Entity means the Person (or, if so elected by the Holder, the Parent Entity) formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered into.

  • Exempted Fundamental Change means any Fundamental Change with respect to which, in accordance with Section 4.02(I), the Company does not offer to repurchase any Notes.

  • Successor Corporation means a corporation, or a parent or subsidiary thereof within the meaning of Section 424(a) of the Code, which issues or assumes a stock option in a transaction to which Section 424(a) of the Code applies.

  • Credit Event Upon Merger has the meaning specified in Section 5(b).

  • Successor Issuer has the meaning assigned to it in Section 4.1(a).

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • DC Credit Event Announcement means, with respect to the Reference Entity, a public announcement by the DC Secretary that the relevant Credit Derivatives Determinations Committee has Resolved that an event that constitutes a Credit Event has occurred on or after the Credit Event Backstop Date and on or prior to the Extension Date, provided that if the Credit Event occurred after the Scheduled Maturity Date, the DC Credit Event Announcement must relate to the relevant Potential Failure to Pay, in the case of a Grace Period Extension Date, or the relevant Potential Repudiation/Moratorium, in the case of a Repudiation/Moratorium Evaluation Date.

  • Permitted Successor is defined in Section 5.02 of the Sale Agreement.

  • Successor Preferred Guarantee Trustee means a successor Preferred Guarantee Trustee possessing the qualifications to act as Preferred Guarantee Trustee under Section 4.1.

  • Successor Reference Rate means the rate that the relevant Independent Adviser determines is a successor to or replacement of the Reference Rate which is formally recommended by any Relevant Nominating Body.

  • Successor Parent with respect to any Person, means any other Person with more than 50% of the total voting power of the Voting Stock which is, at the time the first Person becomes a Subsidiary of such other Person, “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) by one or more Persons that “beneficially owned” (as so defined) more than 50% of the total voting power of the Voting Stock of the first Person immediately prior to the first Person becoming a Subsidiary of such other Person.

  • Successor Guarantor shall have the meaning specified in Section 11.02(a).

  • ABR when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate.