Physical Redemption Amount definition

Physical Redemption Amount means, in connection with any Notes subject to a single Delivery Instruction Certificate, the sum of (i) a portion, determined by the Calculation Agent in its sole discretion, of the Net Portfolio corresponding to the number of Notes subject to that Delivery Instruction Certificate but rounded down to, where the Assets comprise transferable securities, the nearest minimum transfer value of such Assets; and (ii) the Net Proceeds of that fraction of the Net Portfolio that was the subject of such rounding down; and (iii) where the Aggregate STP is payable to the Issuer, a pro rata portion of such Aggregate STP.

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Physical Redemption Amount means, in relation to any Delivery Instruction Certificate:

Physical Redemption Amount means the relevant Instrumentholder's pro rata share (by reference to the outstanding principal amount of Instruments held by such Instrumentholder against the outstanding principal amount of all Instruments) of all Collateral held by or on behalf of the Issuer in respect of the Instruments on the relevant date; provided that any amount received by the Issuer from an Instrumentholder in respect of the Physical Redemption Priority Payment Amount in connection with the Conditions to Delivery shall be deemed not to form part of the Collateral.

Examples of Physical Redemption Amount in a sentence

• If an Event of Default occurs and the Trustee has not declared the Notes due and payable in accordance with Base Condition 7.1 by the date falling three Business Days following the occurrence of such Event of Default, the Issuer shall, upon valid exercise of a Contingent Noteholder Put Option by a 100% Noteholder, redeem all the Notes at their Physical Redemption Amount on the Contingent Noteholder Put Redemption Date in accordance with the relevant Exercise Notice.

• In the case where the Noteholder elects to receive the Physical Redemption Amount in respect of such Noteholder Option, the delivery of the duly completed Exercise Notice by the Noteholder in accordance with the Conditions shall be deemed to satisfy the requirement to deliver a Delivery Instruction Certificate pursuant to Base Condition 8.9(b), provided that such Exercise Notice contains all information necessary for the Issuer or its agent to effect physical delivery of the relevant assets.

• A Noteholder will not be entitled to any Physical Redemption Amount unless it has; (x) presented or surrendered (as is appropriate) the relevant Note; and (y) delivered a Delivery Instruction Certificate at the Principal Agent’s specified office.

• The records of the Principal Agent will be conclusive evidence of any Noteholder’s entitlement to a Physical Redemption Amount.

• Upon satisfaction of the Pre-Conditions to Delivery (as set out in Base Condition (b) below) the Issuer will cause to be delivered on or as soon as practicable after the Asset Delivery Date, the Physical Redemption Amount for the Notes specified in that Delivery Instruction Certificate, in accordance with the instructions contained therein.

More Definitions of Physical Redemption Amount

Physical Redemption Amount means, in respect of each Note outstanding on the relevant Early Redemption Date, in respect of which a Physical Redemption Amount is payable:

Physical Redemption Amount means the aggregate of all Collateral held by or on behalf of the Issuer in respect of the Notes the relevant Early Redemption Date (for the avoidance, of doubt, following any application by the Issuer of an amount equal to the Physical Redemption Priority Payment Amount in satisfaction of all payment obligations of the Issuer ranking in priority to the Noteholders pursuant to Master Condition 15 (Application of Liquidation Proceeds)) or the Maturity Date, as the case may be.

Physical Redemption Amount means in respect of any Securities to be redeemed by Physical Settlement, means:

Physical Redemption Amount means, in connection with any Notes subject to a single Delivery Instruction Certificate, the sum of (i) a portion, determined by the Calculation Agent in its sole discretion, of the Net Portfolio corresponding to the number of Notes subject to that Delivery Instruction Certificate but rounded down to, where the Assets comprise securities, the nearest whole number of Assets and where the Assets comprise other debt obligations, the nearest minimum transfer value of the Assets; (ii) the Net Proceeds of that fraction of the Net Portfolio that was the subject of such rounding down; (iii) where the Aggregate STP is payable to the Issuer, a pro rata portion of such Aggregate STP; and (iv) if there is any positive cash balance in the Issuer’s accounts established and maintained solely for the purposes of the Notes, a pro rata portion of such positive cash balance, subject to the priority of payment set out in Condition 3.1 and Additional Condition 6(e), as modified by the Drawdown Deed.

Physical Redemption Amount means, in respect of each Note outstanding on the relevant Early Redemption Date (where the Physical Redemption Amount is the Early Redemption Amount) or the Maturity Date (where the Physical Redemption Amount is the Final Redemption Amount), as the case may be, in respect of which a Physical Redemption Amount is payable, (i) an amount of the Remaining Original Collateral equal to such Note’s pro rata share (amongst only those Notes in respect of which a Physical Redemption Amount is payable) of the Remaining Original Collateral; and (ii) an amount of cash equal to such Note’s pro rata share (amongst all Notes outstanding on the relevant Early Redemption Date) of (a) the Specified Currency Proceeds, less (b) the Cash Redemption Portion, plus (c) any Termination Payment in respect of the Swap Agreement that is payable to the Issuer (together, if applicable, with any interest payable thereon) and any Termination Payment in respect of the Repo Agreement that is payable to the Issuer (together, if applicable, with any interest payable thereon) less

Physical Redemption Amount means, in respect of each Note outstanding on the relevant Early Redemption Date (where the Physical Redemption Amount is the Early Redemption Amount) or the Maturity Date (where the Physical Redemption Amount is the Final Redemption Amount), as the case may be, in respect of which a Physical Redemption Amount is payable, (i) an amount of the Remaining Original Collateral equal to such Note’s pro rata share (amongst only those Notes in respect of which a Physical Redemption Amount is payable) of the Remaining Original Collateral; and (ii) an amount of cash equal to such Note’s pro rata share (amongst all Notes outstanding on the relevant Early Redemption Date) of (a) the Specified Currency Proceeds, less (b) the Cash Redemption Portion, plus (c) any

Physical Redemption Amount means, in connection with any Notes subject to a