Prior Loss Absorbing Instrument definition

Prior Loss Absorbing Instrument means, at any time, any instrument (other than the Notes) issued directly or indirectly by the Issuer or any member of the SBAB Group which has a loss absorption trigger which has been breached as a result of the CET1 ratio of the Issuer or the SBAB Group falling below a level that is higher than 5.125 per cent., in the case of the Issuer, or 7 per cent., in the case of the SBAB Group and as a result of which, all or some of its principal amount may be written-down (whether on a permanent or temporary basis) or may otherwise absorb losses (in each case in accordance with its terms);
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Prior Loss Absorbing Instrument means, at any time, any instrument issued directly or indirectly by the Bank or any other member of the DNB Group which has terms pursuant to which all or some of its principal amount may be written-down (whether on a permanent or temporary basis) or converted into equity (in each case in accordance with its conditions) on the occurrence, or as a result, of the Bank’s and/or the Bank Group’s, as applicable, CET1 Ratio falling below a level that is higher than 5.125 per cent.;
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Examples of Prior Loss Absorbing Instrument in a sentence

  • To the extent the prior write-down or other loss absorption of any Prior Loss Absorbing Instrument or write-down or other loss absorption of any Similar Loss Absorbing Instrument for the purposes of paragraphs (a) and (b) above is not possible for any reason, this shall not in any way impact on any Write-Down of the Notes.

  • The only consequence shall be that the Notes will be Written-Down and the Write-Down Amount determined as provided above without taking into account any such write down or conversion of such Prior Loss Absorbing Instrument or Similar Loss Absorbing Instrument, as the case may be.

Related to Prior Loss Absorbing Instrument

  • Underlying Instrument means the instrument, index, commodity, currency (including currency pair) or other instrument, asset or factor whose price or value provides the basis for us to determine Our Price for a Market.

  • Underlying Instruments The loan agreement, credit agreement, indenture or other agreement pursuant to which a Loan or Permitted Investment has been issued or created and each other agreement that governs the terms of or secures the obligations represented by such Loan or Permitted Investment or of which the holders of such Loan or Permitted Investment are the beneficiaries.

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Cram Down Loss means, with respect to any Receivable (other than a Defaulted Receivable) as to which any court in any bankruptcy, insolvency or other similar proceeding issues an order reducing the principal amount to be paid on such Receivable or otherwise modifies any payment terms with respect thereto, an amount equal to the greater of (i) the amount of the principal reduction ordered by such court and (ii) the difference between the Principal Balance of such Receivable at the time of such court order and the net present value (using a discount rate which is the higher of the Contract Rate of such Receivable or the rate of interest specified by such court order) of the remaining scheduled payments to be paid on such Receivable as modified or restructured. A “Cram Down Loss” will be deemed to have occurred on the date of issuance of such court’s order.

  • CMPPA Agreement means the CMPPA Agreement between the SSA and CHHS.

  • Modification Loss Amount With respect to each Payment Date, the excess, if any, of the aggregate Modification Shortfall over the aggregate Modification Excess for such Payment Date.

  • Loan Loss Reserves means funds held by the Seller to cover potential losses in connection with the mortgage loans owned in the Seller’s portfolio, including without limitation any amounts required to be maintained and held as a loan loss reserve in accordance with GAAP and any other regulatory requirement applicable to the Seller.

  • Non-Lead Servicing Agreements means the PSA with respect to each Non-Lead Note (other than the Non-Lead Note that is included in the Lead Securitization).

  • Cumulative Net Loss Test With respect to any Payment Date, a test that will be satisfied if the Cumulative Net Loss Percentage does not exceed the applicable percentage indicated below: Payment Date occurring in the period Percentage December 2015 to November 2016 0.10% December 2016 to November 2017 0.20% December 2017 to November 2018 0.30% December 2018 to November 2019 0.40% December 2019 to November 2020 0.50% December 2020 to November 2021 0.60% December 2021 to November 2022 0.70% December 2022 to November 2023 0.80% December 2023 to November 2024 0.90% December 2024 to November 2025 1.00% December 2025 to September 2026 1.10% October 2026 to November 2027 1.20% December 2027 and thereafter 1.30% Current Accrual Rate: With respect to each Payment Date and any Reference Obligation, the lesser of (i) the related current Accounting Net Yield; and (ii) the related current mortgage rate thereon (as adjusted for any modifications) minus 0.35%.

  • Third Party Originating Carrier means a Telecommunications Carrier that originates Transit Traffic that transits AT&T-TSP’s network and is delivered to CLEC.

  • Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to: