Potential Credit Event definition

Potential Credit Event means a Potential Failure to Pay (if Failure to Pay is an applicable Credit Event in respect of the Reference Entity), a Potential Repudiation/Moratorium (if Repudiation/Moratorium is an applicable Credit Event in respect of the Reference Entity) or if a Credit Event Resolution Request Date has occurred and the relevant Credit Derivatives Determinations Committee has not made its determination, such event will be deemed to be a Potential Credit Event. A Credit Derivatives Determinations Committee and the Calculation Agent may each determine whether a Potential Failure to Pay or a Potential Repudiation/Moratorium has occurred.

Potential Credit Event means the Credit Default Swap Counterparty, acting in good faith, determines that a Credit Event may potentially occur with respect to a Reference Entity under the terms of the Credit Default Swap Agreement following a Potential Failure to Pay or Potential Repudiation/ Moratorium thereunder and, in each case, as a result a Cash Settlement Amount may be payable although, as at the date of delivery of the Potential Credit Event Notice, the Credit Event has yet to occur.

Potential Credit Event means any of:

Examples of Potential Credit Event in a sentence

• See “Payments in the Notes may be deferred or suspended” risk factor in “Risk Factors” above.Notice of any Potential Credit Event Notice will be given to the Noteholders in accordance with Condition 16 (Notices) by the Issuer promptly after receipt by the Issuer thereof from the Swap Counterparty.

• On or prior to the Scheduled Termination Date, the Issuer (following notice to that effect from the Counterparty under the Swap Agreement) shall notify the Securityholders that a Potential Credit Event exists.

• If a Substitution Event has occurred with respect to the Reference Obligation and the Calculation Agent determines that no Substitute Reference Obligation is available for that Reference Obligation, then the Calculation Agent shall continue to attempt to identify a Substitute Reference Obligation until the Scheduled Maturity Date (subject, if applicable to Potential Credit Event Extension, Grace Period Extension and/or Repudiation/Moratorium Extension).

• See “Payments in the Notes may be deferred or suspended” risk factor in “Risk Factors” above.Notice of any Potential Credit Event Notice will be given to the Noteholders in accordance with Condition 16 ( Notices) by the Issuer promptly after receipt by the Issuer thereof from the Swap Counterparty.

• See also “Payments in the Notes may be deferred or suspended” risk factor in “Risk Factors” above.Notice of any Potential Credit Event Notice will be given to the Noteholders in accordance with Condition 17 (Notices) by the Issuer promptly after receipt by the Issuer thereof from the Swap Counterparty.

More Definitions of Potential Credit Event

Potential Credit Event means an event which, in the determination of the Determination Agent, may constitute a Credit Event.

Potential Credit Event means, with respect to the CDS Contract, the occurrence of a Potential Failure to Pay or Potential Repudiation/Moratorium thereunder (in each case as defined in the CDS Confirmation);

Potential Credit Event means a Potential Failure to Pay, a Potential Repudiation/Moratorium or if a Credit Event Resolution Request Date has occurred and the Credit Derivatives Determinations Committee has not made its determination, such event will be deemed to be a Potential Credit Event.

Potential Credit Event means an event which, in the determination of the Determination Agent, may, with the passage of time, constitute a Credit Event.

Potential Credit Event means the Buyer, acting in good faith, determines that any event which would, but for the application of any Grace Period or any condition precedent to the commencement of any Grace Period applicable to such Reference Obligation, constitute a Failure to Pay and, in each case, as a result a Cash Settlement Amount may be payable although, as at the date of delivery of the Potential Credit Event Notice, the Credit Event has yet to occur.

Potential Credit Event means, and shall be deemed to have occurred, if the Calculation Agent determines that:

Potential Credit Event means the Buyer, acting in good faith, determines that (i) there is a reasonable likelihood that a Credit Event (or a Potential Failure to Pay where Grace Period Extension is applicable or a Potential Repudiation/Moratorium where Repudiation/Moratorium is applicable) may occur or have occurred with respect to a Reference Entity under the terms of the Transaction on or prior to the Scheduled Maturity Date or Early Redemption Date, as the case may be, or (ii) a Credit Event Resolution Request Date has occurred with respect to a Reference Entity and in respect thereof there has not been a DC Credit Event Announcement or a DC No Credit Event Announcement prior to the Notice Cut-Off Date and, in each case, as a result a Cash Settlement Amount may be payable although, as at the date of delivery of the Potential Credit Event Notice, the Conditions to Settlement have not been satisfied as at the Scheduled Maturity Date or Early Redemption Date, as the case may be.