Relevant Spanish Resolution Authority definition

Relevant Spanish Resolution Authority means the Spanish Fund for Orderly Bank Restructuring (Fondo de Reestructuración Ordenada Bancaria), the European Single Resolution Board, the Bank of Spain, the Spanish National Securities Market Commission (CNMV) or any other entity with the authority to exercise the Spanish Bail-in Power (as defined herein) from time to time;

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Relevant Spanish Resolution Authority means any of the Spanish Fund for the Orderly Restructuring of Banks (Fondo de Restructuración Ordenada Bancaria), the European Single Resolution Mechanism and, as the case may be, according to Law 11/2015, RD 1012/2015 and the SRM Regulation, the Bank of Spain and the Spanish Securities Market Commission (CNMV) or any other entity with the authority to exercise the Spanish Bail-in Power from time to time.

Relevant Spanish Resolution Authority means the Spanish Fund for Orderly Bank Restructuring (Fondo de Reestructuración Ordenada Bancaria), the European Single Resolution Board, the Bank of Spain, the CNMV or any other entity with the authority to exercise the Spanish Bail-in Power from time to time.

Examples of Relevant Spanish Resolution Authority in a sentence

• By its acquisition of the Securities of any series, each Holder further acknowledges and agrees that no repayment or payment of Amounts Due on the Securities of any series shall become due and payable or be paid after the exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution Authority if, and to the extent that, such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise.

• No repayment or payment of Amounts Due on the Securities of any series will become due and payable or be paid after the exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution Authority if, and to the extent that, such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise.

• Neither the exercise of the Spanish Bail-in Power nor the exercise of any other resolution tool by the Relevant Spanish Resolution Authority or any action in compliance therewith shall constitute an Enforcement Event or other default under the terms of the Preferred Securities or the Indenture.

• In addition, under the terms of the Indenture none of the cancellation or deemed cancellation of any Distribution, a Trigger Event, a Capital Reduction or the exercise of the Spanish Bail-in Power or of any other resolution tool by the Relevant Spanish Resolution Authority, or BBVA’s failure to provide notice in respect of any of the aforementioned events, will be an Enforcement Event.

• In addition, no repayment or payment of Amounts Due on the Securities of any series shall become due and payable or be paid after the exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution Authority if, and to the extent that, such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise.

More Definitions of Relevant Spanish Resolution Authority

Relevant Spanish Resolution Authority means any of the Spanish Fund for the Orderly Restructuring of Banks (Fondo de Restructuración Ordenada Bancaria), the European Single Resolution Mechanism, the Bank of Spain and the Spanish Securities Market Commission ("CNMV") or any other entity with the authority to exercise the Spanish Bail-in Power from time to time, according to Law 11/2015, of June 18, as amended from time to time, including amongst others, as amended by Royal Decree-Law 7/2021 ("Law 11/2015"), RD 1012/2015 and the SRM Regulation.

Relevant Spanish Resolution Authority means the Spanish Fund for the Orderly Restructuring of Banks (Fondo de Restructuración Ordenada Bancaria) (the “FROB”), the European Single Resolution Mechanism, the Bank of Spain, the Spanish Securities Market Commission (“CNMV”) or any other entity with the authority to exercise the resolution tools (such as the Spanish Bail-in Power) and powers contained in Law 11/2015 from time to time.

Relevant Spanish Resolution Authority means the Fund for Orderly Bank Restructuring (Fondo de Restructuración Ordenada Bancaria), the Single Resolution Board, the Bank of Spain, the Spanish Securities Market Commission or any other entity with the authority to exercise any of the resolutions tools and powers contained in Law 11/2015 from time to time that performs the role of primary bank resolution authority;

Relevant Spanish Resolution Authority means any of the Spanish Fund for the Orderly Restructuring of Banks (Fondo de Restructuración Ordenada Bancaria), the European Single Resolution Mechanism, the Bank of Spain and the Spanish Securities Market Commission ("CNMV") or any other entity with the authority to exercise the Spanish Bail-in Power (as defined below) from time to time, according to Law 11/2015 (as defined below).

Relevant Spanish Resolution Authority means the Fund for Orderly Bank Restructuring (Fondo de Restructuración Ordenada Bancaria), the Single Resolution Board, the Bank of Spain, the CNMV or

Relevant Spanish Resolution Authority means the Spanish Fund for the Orderly Restructuring of Banks (Fondo de Restructuración Ordenada Bancaria) (“FROB”), the European Single Resolution Mechanism (“SRM”) and, as the case may be, according to Law 11/2015, the Bank of Spain and the CNMV (as defined herein), and any other entity with the authority to exercise the Spanish Bail-in Power from time to time. “Spanish Bail-in Power” means any write-down, conversion, transfer, modification, or suspension power existing from time to time under: (i) any law, regulation, rule or requirement applicable from time to time in Spain, relating to the transposition or development of the BRRD (as amended, replaced or supplemented from time to time), including, but not limited to (a) Law 11/2015, (b) RD 1012/2015; and (c) the SRM Regulation, each as amended, replaced or supplemented from time to time; or (ii) any other law, regulation, rule or requirement applicable from time to time in Spain pursuant to which (a) obligations or liabilities of banks, investment firms or other financial institutions or their affiliates can be reduced, cancelled, modified, transferred or converted into shares, other securities, or other obligations of such persons or any other person (or suspended for a temporary period or permanently) or (b) any right in a contract governing such obligations may be deemed to have been exercised.

Relevant Spanish Resolution Authority means any of the Spanish Fund for the Orderly Restructuring of Banks (Fondo de Restructuración Ordenada Bancaria), the European Single Resolution Mechanism, the Bank of Spain and