Examples of Obligation Characteristic in a sentence
For purposes of the application of the Valuation Obligation Characteristic "Maximum Maturity", remaining maturity shall be determined on the basis of the terms of the Valuation Obligation in effect at the time of making such determination and, in the case of a Valuation Obligation that is due and payable, the remaining maturity shall be zero.
If either of the Obligation Characteristics "Listed" or "Not Domestic Issuance" is specified as being applicable in the Standard or the Pricing Supplement, the Securities shall be construed as though the relevant Obligation Characteristic had been specified as an Obligation Characteristic only with respect to Bonds.
If "Subordinated European Insurance Terms" is specified as being applicable in the Standard, if an obligation would otherwise satisfy the "Maximum Maturity" Valuation Obligation Characteristic, the existence of any Solvency Capital Provisions in such obligation shall not cause it to fail to satisfy such Valuation Obligation Characteristic.
Any cancellation by TPC will be in writing and delivered to the supplier.
With respect to an Insured Instrument in the form of a pass-through certificate or similar funded beneficial interest, the term “outstanding principal balance” shall mean the outstanding Certificate Balance and “maturity”, as such term is used in the “Maximum Maturity” Reference Obligation Characteristic, shall mean the specified date by which the Qualifying Policy guarantees or insures, as applicable, that the ultimate distribution of the Certificate Balance will occur.
For the purposes of the application of the Obligation Characteristics or the Reference Obligation Characteristics, only the Qualifying Policy must satisfy on the relevant Relevant Date the Obligation Characteristic or the Reference Obligation Characteristic of Not Subordinated, if specified in the relevant Standard.
Neither the Qualifying Policy nor the Insured Instrument must satisfy on the relevant Relevant Date the Reference Obligation Characteristic of “Accelerated or Matured”, whether or not that characteristic is otherwise specified as applicable in the relevant Standard.
If the Obligation Characteristic “Listed” is specified as being applicable in the relevant Standard, the Notes or, as the case may be, the Swap Agreement shall be construed as though Listed had been specified as an Obligation Characteristic only with respect to Bonds and shall only be relevant if Bonds are covered by the selected Obligation Category.
If the Standard Reference Obligation is removed from the SRO List, such obligation shall cease to be the Reference Obligation (other than for purposes of the "Not Subordinated" Obligation Characteristic or "Not Subordinated" Valuation Obligation Characteristic) and there shall be no Reference Obligation unless and until such obligation is subsequently replaced on the SRO List, in which case, the new Standard Reference Obligation in respect of the Reference Entity shall constitute the Reference Obligation.
If any of the events set forth under Sections 2.11(a)(i) or (iii) ( Substitution Event) have occurred with respect to the Non-Standard Reference Obligation, the Non-Standard Reference Obligation will cease to be the Reference Obligation (other than for purposes of the "Not Subordinated" Obligation Characteristic or "Not Subordinated" Valuation Obligation Characteristic and Section 2.10(c)(ii)).