Reference Portfolio Level definition

Reference Portfolio Level means on any day, the level of the Reference Portfolio, which shall correspond to the Reference Portfolio Level on the Issuance Date (being 1,000), adjusted upward or downward by a proportion equal to the Total Reference Share Return, as per the following formula:
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Reference Portfolio Level means, subject to the provisions of paragraph 2 (Consequences of Disrupted Days) of this paragraph 46 (Additional Provisions), (i) in respect of any Reference Portfolio Calculation Date except the Redemption Determination Date, a level for the Reference Portfolio calculated by the Calculation Agent based on the closing price or value of each Constituent on the relevant Exchange or Related Exchange on that Reference Portfolio Calculation Date, and (ii) in respect of the Redemption Determination Date, a level for the Reference Portfolio calculated by the Calculation Agent as the sum of (x) the sale proceeds, as converted into the Specified Currency where applicable, using the prevailing exchange rate, as determined by the Calculation Agent in its reasonable discretion, that would be realized by a notional investor (in the same position as the Issuer) when selling and/or, as the case may be, unwinding the prevailing Constituents comprising the Reference Portfolio and (y) the value of the cash position minus any accrued but not yet deducted Adjustment Fee and/or Reference Portfolio Fee.
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Reference Portfolio Level means, subject to the provisions of paragraph 2 (Consequences of Disrupted Days) of this paragraph 46 (Additional Provisions), (i) in respect of any Reference Portfolio Calculation Date except the Redemption Determination Date, a level for the Reference Portfolio calculated by the Calculation Agent based on the closing price or value of each Constituent on the relevant Exchange or Related Exchange on that Reference Portfolio Calculation Date, and (ii) in respect of the Redemption Determination Date, a level for the Reference Portfolio calculated by the Calculation Agent as the sum of (x) the sale proceeds, as converted into the Specified Currency where applicable, using the prevailing exchange rate, as determined by the Calculation Agent in its reasonable discretion, that would be realized by a notional investor (in the same position as the Issuer) when selling and/or, as the case may be, unwinding the prevailing Constituents comprising the Reference Portfolio and (y) the value of the cash position minus any accrued but not yet deducted Adjustment Fee and/or Reference Portfolio Fee.“Related Exchange” means, in relation to a Constituent or Eligible Constituent, the principal exchange (if any) on which options or futures contracts relating to such Constituent or Eligible Constituent are traded or quoted, as determined in the reasonable discretion of the Calculation Agent.“Unwind Disruption Event” means, in respect of any date, the Issuer or a Notional Investor would be unable to unwind investments, in any Reference Portfolio Constituent(s) on or by such date. The Issuer certifies that to the best of its knowledge and belief there are no facts that have been omitted from the Information Memorandum (the "Placement Document"), which would make any statement false or misleading and that all reasonable enquiries to ascertain such facts have been made and that the Placement Document, as supplemented by these Final Terms, contains all information required by applicable laws of South Africa and, the JSE Listings Requirements. The Issuer accepts full responsibility for the information contained in the Placement Document, as supplemented by these Final Terms, and the annual financial statements and any amendments to the annual financial statements or any supplement from time to time, except as otherwise stated therein. The JSE takes no responsibility for the contents of the Placement Document, these Final Terms or the annual financial statements of the Issuer (as amen...
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Examples of Reference Portfolio Level in a sentence

  • The level of the Reference Portfolio (the "Reference Portfolio Level") is calculated in the Reference Portfolio Currency, net of fees and costs associated with the creation, maintenance and management of the Reference Portfolio, as described in Section 5 below.

  • The Reference Portfolio was created on the Pricing Date with an initial value equal to the Initial Reference Portfolio Level.

  • The Reference Portfolio Level is calculated net of fees and costs described under the "Fees" definition in Section 1 ("Description of the Product") of this document.

  • Certain limitations apply as to the composition of the Reference Portfolio from time to time as described in such section and as well in Section 3 of the Annex below.The level of the Reference Portfolio (the "Reference Portfolio Level") is calculated in the Reference Portfolio Currency, net of fees and costs associated with the creation, maintenance and rebalancing of the Reference Portfolio, as described Section 1 ("Description of the Product") of this document.

  • The level of the Reference Portfolio (the "Reference Portfolio Level") is calculated in the Reference Portfolio Currency, net of fees and costs associated with the creation, maintenance and management of the Reference Portfolio, as described Section 1 ("Description of the Product") of this document.

  • In respect of any Business Day on which an FX Disruption Event has occurred, the value of any Constituent (including for the purposes of determining the Reference Portfolio Level) that is not denominated in ZAR shall be determined (if applicable) by the Calculation Agent in its sole and absolute discretion.

  • The Adjustment Fee equals 0.10%.The Adjustment Fee shall be deducted from the Cash Position.For the avoidance of doubt, unwind costs to determine the Final Reference Portfolio Level shall constitute Adjustment Fees.

  • The notional value of the Reference Portfolio (the "Initial Reference Portfolio Level") will be ZAR 100.00 per Note on the Pricing Date.

  • Reference Portfolio Final Level: means the Reference Portfolio Level on the Final Valuation Date.

  • Reference Portfolio Initial Level: means the lowest Reference Portfolio Level observed on each of the Low Point Valuation Dates.


More Definitions of Reference Portfolio Level

Reference Portfolio Level means on any day, the sum of the Constituent Values on that day.
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Reference Portfolio Level means on any day, a number (rounded to three decimal places) equal to the product of
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Reference Portfolio Level means on any day, the level of the Reference Portfolio, which shall be equal to the Reference Portfolio Level on the Issuance Date (being 1,000), adjusted upward or downward by the product of one plus the sum of the Weighted Reference Asset Returns of all Reference Assets comprising the Reference Portfolio.
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Reference Portfolio Level means, subject to the provisions of paragraph 2 (Consequences of Disrupted Days) of this paragraph 46 (Additional Provisions), (i) in respect of any Reference Portfolio Calculation Date except
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Reference Portfolio Level means, subject to the provisions of paragraph 2 (Consequences of Disrupted Days) of this paragraph 46 (Additional Provisions), (i) in respect of any Reference Portfolio Calculation Date except the Redemption Determination Date, a level for the Reference Portfolio calculated by the Calculation Agent based on the closing price or value of each Constituent on the relevant Exchange or Related Exchange on that Reference Portfolio Calculation Date, and (ii) in respect of the Redemption Determination Date, a level for the Reference Portfolio calculated by the Calculation Agent as the sum of (x) the sale proceeds, as converted into the
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Related to Reference Portfolio Level

  • Reference Portfolio Return means on any day, the weighted average return of the Reference Assets calculated as the sum of the Weighted Reference Asset Return of each of the Reference Assets comprising the Reference Portfolio.

  • Reference Portfolio means, the notional portfolio made up of each Reference Asset, as described in this Information Statement under “Reference Portfolio”.

  • Reference Value means the last reported sales price of the Ordinary Shares for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice of the redemption is given.

  • Reference Cut-Off Date means the eighth Scheduled Trading Day immediately following the Scheduled Reference Date or, if earlier, the Scheduled Trading Day falling on or immediately preceding the second Business Day immediately preceding the due date on which payment of any amount or delivery of any assets may have to be made pursuant to any calculation or determination made on such Reference Date, provided that the Reference Cut-Off Date shall not fall prior to the original date on which such Reference Date was scheduled to fall.

  • Portfolio Value means the aggregate amount of portfolio of investments including cash balance without netting off of leverage undertaken by the CDMDF.

  • Reference Month means the calendar month for which the level of the Inflation Index is reported as specified in the applicable Final Terms, regardless of when this information is published or announced, except that if the period for which the Relevant Level was reported is a period other than a month, the Reference Month shall be the period for which the Relevant Level is reported.

  • Reference Level means the level of the Index (excluding any flash estimates) published or announced by Eurostat (or any successor entity which publishes such index) in respect of the month that is 12 calendar months prior to the month referred to in “Latest Level” above.

  • Adjusted Leverage Ratio means, on any date, the ratio of (a) Total Debt as of such date to (b) Adjusted Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP.

  • Pricing Level V any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB‑ or higher or (y) Xxxxx’x is Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.

  • Relevant Reference Price means the Reference Price on the Final Valuation Date. "Security Holder" means the holder of a Security.

  • Reference Year shall have the meaning given it in the Summary.

  • FTR Portfolio Auction Value means for each customer account of a Market Participant, the sum, calculated on a monthly basis, across all FTRs, of the FTR price times the FTR volume in MW.

  • Valuation Percentage means, for any item of Eligible Collateral, the percentage specified in Paragraph 13.

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: Pricing Level Debt Rating I Greater than or equal to A1 / A+ II Less than A1 / A+ but greater than or equal to A2 / A III Less than A2 / A but greater than or equal to A3 / A- V Less than Baa2/BBB provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.

  • Pricing Level refers to the determination of which of Level I, Level II, Level III, Level IV, Level V or Level VI applies at any date.

  • Reference Price means the Reference Price of the Underlying as specified in § 1 of the Product and Underlying Data.

  • Reference Period shall have the meaning assigned to such term in the definition of the term “Pro Forma Basis.”

  • Reference Day means each Business Day in the relevant Interest Period, other than any Business Day in the Lock-out Period;

  • Reference Amount In relation to (a) any Term Obligation, the Outstanding Principal Amount thereof and (b) any Committed Obligation, the Commitment Amount thereof. Utilization Amount: In relation to any Calculation Period, the daily average of the Portfolio Notional Funded Amount during such Calculation Period. Maximum Portfolio Notional Amount: USD750,000,000, or such greater amount as the parties may agree to in writing. Minimum Portfolio Notional Amount: 80% of the Maximum Portfolio Notional Amount. Business Day: New York Business Day Convention: Following (which shall apply to any date specified herein for the making of any payment or determination or the taking of any action which falls on a day that is not a Business Day). If any anniversary date specified herein would fall on a day on which there is no corresponding day in the relevant calendar month, then such anniversary date shall be the last day of such calendar month. Floating Rate Index: Whenever in this Confirmation reference is made to any Floating Rate Option (including any floating rate index specified in any Reference Obligation Credit Agreement) or to USD-LIBOR-BBA (each, a "Floating Rate Index"), in no event may such Floating Rate Index be less than zero. In addition, with respect to any Counterparty First Floating Amount, if payment of interest on a Reference Obligation (or any portion thereof) is subject to the payment of a specified minimum rate regardless of the level of the relevant Floating Rate Index, then, without limiting the effect of the preceding sentence, such Floating Rate Index will be determined without regard to such specified minimum rate. Monthly Period: Each period from and including the 12th day of any calendar month to but excluding the same day of the immediately succeeding calendar month. Calculation Agent: Citibank; provided that, if an Event of Default described in Section 5(a)(vii) occurs with respect to Citibank as Defaulting Party and no Event of Default has occurred with respect to Counterparty as Defaulting Party, then Counterparty may designate any of Bank of America, NA, The Bank of Montreal, Barclays Bank plc, Canadian Imperial Bank of Commerce, Credit Suisse, Deutsche Bank AG, JPMorgan Chase Bank, N.A., UBS AG and Xxxxx Fargo Bank, National Association as Calculation Agent, which designation shall be effective only (a) if such designated entity accepts such appointment and agrees to perform the duties of the Calculation Agent hereunder and (b) so long as such Event of Default with respect to Citibank as Defaulting Party continues. Unless otherwise specified, the Calculation Agent shall make all determinations, calculation s and adjustments required pursuant to this Confirmation in good faith and on a commercially reasonable basis. Calculation Agent City: New York Initial Price: In relation to any Reference Obligation (and the related Transaction), the Initial Price specified in Annex I. The Initial Price will be determined as of the related Obligation Trade Date exclusive of accrued interest and will be expressed as a percentage of the Reference Amount. The Initial Price will be determined exclusive of Costs of Assignment that would be incurred by a buyer in connection with any purchase of the Reference Obligation and exclusive of any Delay Compensation.

  • Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Portfolio Investment included in the Borrowing Base, on an annualized basis, the Spread of such Floating Rate Portfolio Investments, by the outstanding principal balance of such Floating Rate Portfolio Investments as of such date and dividing such sum by the aggregate outstanding principal balance of all such Floating Rate Portfolio Investments and rounding the result up to the nearest 0.01%.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • Initial Level means, in respect of an Index, the level specified as such in the applicable Issue Terms.

  • First Lien Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.25%.