Non-Approval Event definition

Non-Approval Event means, in respect of the Benchmark:

Non-Approval Event means, in respect of an FX Rate, the determination by the Calculation Agent that one or more of the following events has occurred:

Non-Approval Event means, as of any date of determination, an event that (x) will be deemed to have occurred if the ratio (measured on a rolling-six month basis) of (i) the number of Asset Approval Requests resulting in Non-Approved Loans over (ii) the total number of Asset Approval Requests is greater than 50% and (y) will be continuing until the conditions set forth in clause (x) of this definition are no longer true.

Examples of Non-Approval Event in a sentence

• For the avoidance of doubt, a Non-Approval Event shall not occur if the Benchmark or the administrator or sponsor of the Benchmark is not or will not be included in an official register because its authorisation, registration, recognition, endorsement, equivalence or approval is suspended if, at the time of such suspension, the continued provision and use of the Benchmark is permitted in respect of the Securities under the applicable law or regulation during the period of such suspension.

• For the avoidance of doubt, a Non-Approval Event shall not occur if the Benchmark or the administrator or sponsor of the Benchmark has not been or will not be included in an official register because its authorisation, registration, recognition, endorsement, equivalence decision or approval is suspended if, at the time of such suspension, the continued provision and use of the Benchmark is permitted in respect of the Notes under the applicable law or regulation during the period of such suspension.

• For the avoidance of doubt, a Non-Approval Event shall not occur if the Regulated Benchmark or the administrator of the Regulated Benchmark is not included in an official register because its authorisation, registration, recognition, endorsement, equivalence or approval is suspended if, at the time of such suspension, the continued provision and use of the Regulated Benchmark is permitted in respect of the Notes under the applicable law or regulation during the period of such suspension.

• For the avoidance of doubt, a Non-Approval Event shall not occur if the Reference Rate or the administrator of the Reference Rate is not included in an official register because its authorisation, registration, recognition, endorsement, equivalence or approval is suspended if, at the time of such suspension, the continued provision and use of the Reference Rate is permitted in respect of the Notes under the applicable law or regulation during the period of such suspension.

• For the avoidance of doubt, a Non-Approval Event shall not occur if the Benchmark or the administrator of the Benchmark is not included in an official register because its authorisation, registration, recognition, endorsement, equivalence or approval is suspended if, at the time of such suspension, the continued provision and use of the Benchmark is permitted in respect of the Warrants under the applicable law or regulation during the period of such suspension.

More Definitions of Non-Approval Event

Non-Approval Event means an event that (x) will be deemed to have occurred if the ratio (measured on a rolling three-month basis) of (i) the number or Dollar amount of Approval Requests for loans that satisfy the requirements of an Eligible Collateral Loan rejected by the Administrative Agent over (ii) the total number or aggregate Dollar amount of Approval Requests is greater than 70% and (y) will be continuing until the conditions set forth in clause (x) of this definition are no longer true; provided that, until ten (10) loans have been submitted for approval to the Administrative Agent by the Servicer, the ratio of clause (x)(i) over clause (x)(ii) shall be deemed to be zero.

Non-Approval Event means the occurrence of any of the following events:

Non-Approval Event means, in respect of a Commodity Reference Price or Commodity Index, the determination by the Calculation Agent that one or more of the following events has occurred:

Non-Approval Event means, as of any date of determination, an event that (a) will be deemed to have occurred if the quotient of (i) the aggregate Outstanding Balance of the Loan Assets out of the last fifteen (15) Eligible Loan Assets (other than with respect to clause 1 of the definition thereof) submitted by the Borrower to the Administrative Agent which the Administrative Agent has rejected divided by (ii) the aggregate Outstanding Balance of such fifteen (15) Loan Assets, is greater than 50% and (b) will be continuing until the conditions set forth in clause (a) of this definition are no longer satisfied; provided that, until fifteen (15) Eligible Loan Assets have been submitted to the Administrative Agent by the Borrower, the ratio of clause (a)(i) over clause (a)(ii) shall be deemed to be zero.

Non-Approval Event means, in respect of any Benchmark:

Non-Approval Event means, in respect of a Reference Rate, the determination by the Interest Calculation Agent that one or more of the following events has occurred:

Non-Approval Event means, in respect of a Reference Rate, the determination by the Issuer that one or more of the following events has occurred: