Parity Obligation means any instrument or other obligation issued or entered into by the Issuer that constitutes or qualifies as Additional Tier 1 Capital (or its equivalent) under applicable Capital Regulations or any instrument or other obligation issued, entered into, or guaranteed by the Issuer that ranks or is expressed to rank pari passu with the Capital Securities by operation of law or contract, which for the avoidance of doubt, excludes any Junior Obligations of the Issuer.
Parity Obligation means that class of preference shares of the Issuer that rank in right of payment at the most junior level on a Winding-Up and any security or other similar obligation issued, entered into or guaranteed by the Issuer that constitutes or would qualify (other than because the Issuer has otherwise in issue Additional Tier 1 Capital (as defined in the BNM Capital Adequacy Framework) up to the limit prescribed or allowed from time to time by BNM) as Additional Tier 1 Capital of the Issuer on an unconsolidated or consolidated basis, pursuant to the relevant requirements issued by BNM from time to time and currently set out in the BNM Capital Adequacy Framework, or otherwise ranks on a Winding-Up or is expressed to rank on a Winding-Up, by its terms or by operation of law, pari passu with the AT1 Notes;
Parity Obligation means any instrument or other obligation issued, entered into, or guaranteed by DSB that constitutes or qualifies as a Tier 2 Capital Instrument (or its equivalent) under applicable Capital Regulations or that ranks or is expressed to rank pari passu with the Dated Subordinated Notes by operation of law or contract;
Examples of Parity Obligation in a sentence
Any consent given by the owners of a Bond or Parity Obligation pursuant to the provisions of this section shall be irrevocable for a period of six (6) months from the date of such consent and shall be conclusive and binding upon all future owners of the same Bond or Parity Obligation during such period.
Whenever the City shall propose to amend or modify this resolution under the provisions of this section, it shall cause notice of the proposed amendment to be (1) filed with the Lender and (2) mailed by certified mail to each registered owner of any Bond or Parity Obligation as shown by the records of the Registrar.
The foregoing pledge to secure the payment of Subordinated Contract Obligations shall be subject and subordinate to the pledge securing the payment of Parity Obligation Instruments.
The registered capital of the Company increased to RMB7.537 billion.
In preparing a Cash Flow Statement, the Agency shall utilize, with respect to Parity Obligation Instruments, cash flow assumptions and tests that are consistent with the then current ratings assigned to the Bonds (other than Subordinate Bonds) by the Rating Agency.
More Definitions of Parity Obligation
Parity Obligation means Parity Interest and Parity Principal.
Parity Obligation means any instrument or security (including preference shares) issued, entered into or guaranteed by the Issuer which ranks or is expressed to rank, by its terms or by operation of law, pari passu with the Securities;
Parity Obligation means a debt obligation of the Recipient on parity with this Obligation. There are no Parity Obligations.
Parity Obligation means any Additional Tier 1 Capital Instrument, and any other instrument or other obligation issued, entered into, or guaranteed by the Issuer that ranks or is expressed to rank pari passu with the Undated Capital Securities by operation of law or contract.
Parity Obligation means a guarantee or Lien, if applicable, granted by a Security Document to the Security and Intercreditor Agent, at any time, to guarantee Parity Debt Obligations or, if applicable, upon any collateral to secure Parity Obligations.
Parity Obligation means any instrument or security (including without limitation any preference units in KIT) issued, entered into or guaranteed by the Issuer (1) which ranks or is expressed to rank, by its terms or by operation of law, pari passu with a Notional Preferred Unit (as defined in the terms and conditions of the Perpetual Securities) and(2) the terms of which provide that the making of payments thereon or distributions in respect thereof are fully at the discretion of the Issuer and/or, in the case of an instrument or security guaranteed by the Issuer, the issuer thereof.Non-Cumulative Deferral and Cumulative Deferral: If Non-Cumulative Deferral is set out on the face of the Perpetual Security and the relevant Pricing Supplement, any distribution deferred pursuant to Condition 4(IV) of the Perpetual Securities is non-cumulative and will not accrue interest. The Issuer is not under any obligation to pay that or any other distributions that have not been paid in whole or in part. The Issuer may, at its sole discretion (and is not obliged to), and at any time, elect to pay an amount up to the amount of distribution which is unpaid (“Optional Distribution”) (in whole or in part) by complying with the notice requirements in Condition 4(IV)(e) of the Perpetual Securities. There is no limit on the number of times or the extent of the amount with respect to which the Issuer can elect not to pay distributions pursuant to Condition 4(IV) of the Perpetual Securities. Any partial payment of outstanding Optional Distribution by the Issuer shall be shared by the holders of all outstanding Perpetual Securities and the Coupons related to them on a pro rata basis. If Cumulative Deferral is set out on the face of the Perpetual Security and the relevant Pricing Supplement, any distribution deferred pursuant to Condition 4(IV) of the Perpetual Securities shall constitute “Arrears of Distribution”. The Issuer may, at its sole discretion, elect to (in the circumstances set out in Condition 4(IV)(a) of the Perpetual Securities) further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued distribution. The Issuer is not subject to any limit as to the number of times distributions and Arrears of Distribution can or shall be deferred pursuant to Condition 4(IV) of the Perpetual Securities except that Condition 4(IV)(c) of the Perpetual Securities shall be complied with until all outstanding Arrears of Distribution h...
Parity Obligation means any security or other similar obligation issued, entered into or guaranteed by the Issuer that constitutes or could qualify as Additional Tier I Capital Securities, including, for the avoidance of doubt, the Existing Additional Tier I Capital Securities;