Parity Instruments definition

Parity Instruments means securities, instruments or obligations of the Issuer which in case of a Liquidation Event occurring prior to the Trigger Event rank, or are expressed to rank, pari passu with the Capital Securities, including the Existing Capital Instruments.
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Parity Instruments. ’ means, with respect to an Obligor, (i) the most senior ranking perpetual non-cumulative preferred or preference shares that have equivalent financial terms as the Loan Notes and which are issued directly by such Obligor (‘‘Parity Shares’’), if any, (ii) guarantees by such Obligor (whether through an agreement or instrument labelled as a guarantee, as a support agreement, or with some other name but with an effect similar to a guarantee or support agreement) of preferred or preference shares issued
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Parity Instruments. ’ means, with respect to an Obligor, (i) the most senior ranking perpetual non-cumulative preferred or preference shares that have equivalent financial
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Examples of Parity Instruments in a sentence

  • The Subordinated Instruments and the related Receipts and Coupons constitute unsecured subordinated obligations of the Issuer and Tier 2 instruments ( Tilleggskapital), as described in the CRR articles 62 and 63, as amended or replaced, are conditional as described in Condition 3.3(b), and rank pari passu without any preference among themselves and at least equally with all other Subordinated Parity Instruments of the Issuer from time to time outstanding.

  • Section 6 tests the hypothesis on determinants of occupa- tional mobility.

  • In addition, the Issuer may cancel (in whole or in part) any interest payment on the Securities at its discretion and may pay dividends on its ordinary or preference shares, as well as interest on its debt securities (including Parity Instruments), notwithstanding such cancellation.

  • If, upon any such winding-up, liquidation or bankruptcy, the assets available for repayment are insufficient to pay in full the amounts payable with respect to the Notes and any other Parity Instruments and/or Parity Guarantee, the Noteholder and the holders of such Parity Instruments and Parity Guarantee will share rateably in any such distribution of surplus assets of the Issuer in proportion to the full respective amounts to which they are entitled.

  • The rights and claims of the Holders under the Capital Securities are subordinated to the claims of Senior Creditors of the Issuer, present and future, and rank pari passu with the most senior class of the Issuer’s preference shares then outstanding and, once all Outstanding Parity Instruments have been redeemed and discharged in full, pari passu with the most junior class of the Issuer’s preference shares then provided for in its Articles of Association.

  • The Issuer may cancel (in whole or in part) any interest payment on the Securities at its discretion and may pay dividends on its ordinary or preference shares, as well as interest on its debt securities (including Parity Instruments), notwithstanding such cancellation.

  • Liquidation Event If a liquidation (upon dissolution (ontbinding) orotherwise), moratorium of payments (surseance van betaling) or bankruptcy (faillissement) of the Issuer (any such event, a “Liquidation Event”) occurs prior to a Trigger Event, the Securities shall be subordinated to the Senior Instruments of the Issuer and rank pari passu with the Parity Instruments of the Issuer.

  • In addition, the Issuer may be restricted by the terms of its Parity Instruments from making interest payments on the Securities if it does not make payments on such Parity Instruments.

  • In addition, the Issuer’s Distributable Items may also be adversely affected by the servicing of other debt and equity instruments and there are no restrictions on the Issuer’s ability to make payments on Parity Instruments, other debt instruments or its ordinary shares even if that results in its Distributable Items not being sufficient to make a scheduled interest payment on the Securities.


More Definitions of Parity Instruments

Parity Instruments means (i) any preferred or preference shares of the Issuer expressed to rank pari passu with the Bonds ("Parity Shares"), if any, (ii) guarantees by the Issuer (whether through an agreement or instrument labelled as a guarantee, as a support agreement, or with some other name but with an effect similar to a guarantee or support agreement) of preferred securities or preferred or preference shares issued by any of the Issuer's subsidiaries and expressed to rank pari passu with the Parity Shares, if any, and (iii) any of the Issuer's existing or future unsecured and subordinated obligations expressed to rank pari passu with the Issuer's obligations under the Bonds.
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Parity Instruments means any securities, obligations and other instruments which are (i) directly issued by the Guarantor (excluding Junior Instruments), or (ii) issued by any subsidiaries of the Guarantor (and entitled to the benefit of a guarantee or support agreement or similar undertaking of the Guarantor that ranks equally with the guarantees issued by the Guarantor in relation to Tier 1 Securities), and in each case qualify as Tier 1 Capital of the Issuer (without regards to quantitative limits), pursuant to Swiss banking laws and regulations;
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Parity Instruments means any securities, obligations and other instruments which are (i) directly issued by UBS AG (excluding Junior Instruments), or (ii) issued by any subsidiaries of UBS AG (and entitled to the benefit of a guarantee or support agreement or similar undertaking of UBS AG that ranks equally with the guarantees issued by UBS AG in relation to Tier 1 Securities), and in each case qualify as Tier 1 Capital of the Issuer (without regards to quantitative limits), pursuant to Swiss banking laws and regulations;
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Related to Parity Instruments

  • Security Instruments means, collectively, (a) the Mortgages, (b) the Transfer Letters, (c) the Pledge Agreements, (d) the Security Agreements, (e) each other agreement, instrument or document executed at any time in connection with the Pledge Agreements, the Security Agreements, or the Mortgages, (f) each agreement, instrument or document executed in connection with the Cash Collateral Account; and (g) each other agreement, instrument or document executed at any time in connection with securing the Obligations.

  • Surety Instruments means all letters of credit (including standby and commercial), banker's acceptances, bank guaranties, shipside bonds, surety bonds and similar instruments.

  • Security Instrument means the multifamily mortgage, deed to secure debt or deed of trust effective as of the effective date of this Note, from Borrower to or for the benefit of Lender and securing this Note.

  • Secured Debt Agreements means and include this Agreement, the other Credit Documents and the Interest Rate Protection Agreements and Other Hedging Agreements.

  • Senior Loan Documents means the loan agreement between Borrower and Senior Creditor and any other agreement, security agreement, document, promissory note, UCC financing statement, or instrument executed by Borrower in favor of Senior Creditor pursuant to or in connection with the Senior Debt or the loan agreement, as the same may from time to time be amended, modified, supplemented, extended, renewed, restated or replaced.

  • Subordinated Debt Documents means any documents evidencing and/or securing Debt governed by a Subordination Agreement, all of which documents must be in form and substance acceptable to Agent in its sole discretion. As of the Closing Date, there are no Subordinated Debt Documents.

  • Subordinate Loan Documents means the Subordinate Note, the Subordinate Mortgage, and all other documents at any time evidencing, securing, guaranteeing, or otherwise delivered in connection with the Subordinate Indebtedness.

  • Secured Debt Documents means the Parity Lien Documents and the Priority Lien Documents.

  • Refinancing Documents means each of the agreements, documents and instruments entered into in connection with the Refinancing.

  • Loan Agreements means any other loan agreements entered into by and between the Trust and one or more of the Borrowers pursuant to which the Trust will make Loans to such Borrowers from moneys on deposit in the Project Fund, excluding the Project Loan Account, financed with the proceeds of the Trust Bonds.

  • Subordinated Loan Documents means the Subordinated Credit Agreement, the promissory notes executed and delivered pursuant to the Subordinated Credit Agreement, and each other agreement, instrument, or document executed by the Borrower or any of its Subsidiaries or any of their Responsible Officers in connection with the Subordinated Credit Agreement.

  • Financing Documents means collectively the documents evidencing Lenders’ commitment to finance the Project.

  • Senior Security Documents means with respect to any Senior Secured Party, the Security Documents that secure the Senior Obligations.

  • Second Lien Loan Documents means the “Loan Documents” as defined in the Second Lien Credit Agreement.

  • Senior Loan Agreement means that certain Term Loan Agreement, dated as of June 26, 2015, by and among Borrower and Senior Lenders, as amended, restated, supplemented or otherwise modified from time to time.

  • Subordination Agreements means all subordination agreements executed by a holder of Subordinated Debt in favor of the Administrative Agent and the Lenders from time to time after the Closing Date.

  • Senior Credit Agreement means that Credit Agreement dated as of December 1, 2006 (as amended, supplemented or otherwise modified from time to time), among the Issuer, Holdings, IV, Holdings V, Holdings III, each lender from time to time party thereto and the Administrative Agent.

  • Senior Collateral Documents means the Security Agreement and the other “Security Documents” as defined in the Credit Agreement, the Pari Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Parity Debt means Recovery Obligations and Bonds or Notes payable from the Recovery and Parity Debt Account on a parity with the Recovery Bonds or Recovery Notes, respectively.

  • Term Loan Documents means the “Loan Documents” as defined in the Term Loan Agreement.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Senior Priority Obligations means the Original First Lien Obligations and any Additional Obligations constituting Senior Priority Debt.

  • Mortgage Instruments means such title reports, ALTA title insurance policies (with endorsements), evidence of zoning compliance, property insurance, flood certifications and flood insurance (and, if applicable FEMA form acknowledgements of insurance), opinions of counsel, ALTA surveys, appraisals, environmental assessments and reports, mortgage tax affidavits and declarations and other similar information and related certifications as are requested by, and in form and substance reasonably acceptable to, the Administrative Agent from time to time.

  • Second Lien Intercreditor Agreement means the Second Lien Intercreditor Agreement substantially in the form of Exhibit H among the Administrative Agent and one or more Senior Representatives for holders of Permitted Second Priority Refinancing Debt, with such modifications thereto as the Administrative Agent may reasonably agree.

  • Deed of Trust means this Deed of Trust, Assignment, Security Agreement and Fixture Filing, as the same may from time to time be extended, amended, restated, supplemented or otherwise modified.

  • Mezzanine Loan Documents means the “Loan Documents” as defined in the Mezzanine Loan Agreement.