Reverse Order of Seniority definition

Reverse Order of Seniority means the order in which any amounts by which the Adjusted Principal Balance of the Notes is to be reduced without payment to Noteholders are attributed to each Class of Notes being, first, to the Class H Notes, until the Adjusted Principal Balance thereof is reduced to zero, second, to the Class G Notes, until the Adjusted Principal Balance thereof is reduced to zero, third, Class F Notes until the Adjusted Principal Balance thereof is reduced to zero, fourth, to the Class E Notes until the Adjusted Principal Balance thereof is reduced to zero, fifth, to the Class D Notes until the Adjusted Principal Balance thereof is reduced to zero, sixth, to the Class C Notes until the Adjusted Principal Balance thereof is reduced to zero, seventh, to the Class B Notes until the Adjusted Principal Balance thereof is reduced to zero, eighth, to the Class A2 Notes until the Adjusted Principal Balance thereof is reduced to zero and ninth, to the Class A1 Notes until the Adjusted Principal Balance thereof is reduced to zero.
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Reverse Order of Seniority means with respect to any reduction of the Adjusted Principal Balance of the Notes, first the Class B Notes and second the Class A Notes, in each case until the Adjusted Principal Balance of such Class has been reduced to EUR 1 (or on the Final Redemption Date to zero). Security Means all of the assets and property which are expressed to be subject to the security created under or pursuant to the Deed of Charge. Deed of Charge Pursuant to the terms of an English law deed of charge (the
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Reverse Order of Seniority means with respect to any reduction of the Adjusted Principal Balance of the Notes or the deduction of any Senior Ledger Amounts or Junior Ledger Amounts from the Adjusted Principal Balance of the Notes in accordance with the Conditions, the Securityfollowing order of priority: first the Class E Notes, second the Class D Notes, third the Class C Notes, fourth the Class B Notes and fifth the Class A Notes, in each case until the Adjusted Principal Balance of such Class has been reduced to zero.When the Notes are reinstated following the determination that a Junior Late Recovery Amount exists, the relevant Bank will have an obligation to make a payment under the relevant Junior Guarantee to the Issuer in an amount equal to the amount of principal to be reinstated. Any such amount paid by the relevant Bank shall be deposited in the relevant Cash Deposit held by the Issuer with the relevant Cash Deposit Bank and/or (as the case may be) used to purchase Repo Securities.In addition, such Bank will pay to the Issuer an amount equal to the Make-Up Interest Amount payable by the Issuer in respect of the Notes which are so reinstated.Pledges over Cash Deposits The Issuer will grant a first ranking pledge over itsinterest in each Cash Deposit and Cash Deposit Agreement in favour of the relevant Bank in accordance with and in compliance with the laws of the relevant jurisdiction in which the Cash Deposit Account is situated.Pledge over Cash Deposits for the benefit of the Secured CreditorsThe Issuer will, in respect of the BA-CA Cash Deposit and the HVB Cash Deposit, grant a second ranking pledge over its interest in such Cash Deposit and the relevant Cash Deposit Agreement or, in respect of the UCI Cash Deposit, a pledge over its claims for the restitution of the monies standing to the credit of the Cash Deposit Account in favour of the Trustee on behalf of itself and the Noteholders, the Banks, the Cash Deposit Banks, the Repo Counterparties (if any), the Paying Agents, the Calculation Agent, the Cash Administrator, the Agent Bank and the Issuer Account Bank (together, the "Secured Creditors") in accordance with and in compliance with the laws of the jurisdiction in which the Cash Deposit Account is situated.Deed of Charge Pursuant to the terms of an English law deed of charge (the "Deed of Charge") to be dated on or about the Closing Date between the Issuer and the Trustee, the Issuer will grant in favour of the Trustee on behalf of theSecured Creditors:
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Examples of Reverse Order of Seniority in a sentence

  • Such reduction will be allocated to the Notes in Reverse Order of Seniority (until the Adjusted Principal Balance of each Class is reduced to zero).

  • Purpose of Lay-off Provisions Definition of "Temporary"and Notice to Union Notice of Lay-off Lay-off in Reverse Order of Seniority Retention of Seniority and Benefits on Lay-off Temporary Benefits Continue Recall Period Leave of Absence ARTICLE Duration.


More Definitions of Reverse Order of Seniority

Reverse Order of Seniority means with respect to any reduction of the Adjusted Principal Balance of the Notes, the following order of priority: first the Class C Notes, second the Class B Notes and third the Class A Notes, in each case until the Adjusted Principal Balance of such Class has been reduced to GBP 1 (or on the Final Redemption Date to zero). If applicable, the Swap Counterparty will elect whether to liquidate Repo Securities or the Cash Collateral. Following any such election, the Swap Counterparty will provide notice to the Issuer (and will copy such notice to the Cash Administrator) of the amounts of the Cash Collateral and/or unwind of the Repo Agreement in respect of Repo Securities to be liquidated in accordance with such corresponding amounts of Collateral. Security Security Means (i) all of the assets and property which are expressed to be subject to the security created under or pursuant to the Deed of Charge and (ii) all of the rights of the Trustee under the Receivable Pledge Agreement, the Pledge Agreement(s) and the Cash Collateral Agreement. Deed of Charge Pursuant to the terms of an English law deed of charge (the
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Reverse Order of Seniority means the order in which any amounts by which the Base Currency Notional Amount of the Notes is to be reduced without payment to Noteholders are attributed to each Class of Notes being:
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Reverse Order of Seniority means the order in which any amounts by which the Outstanding Principal Balance of the Notes is to be reduced without payment to Noteholders are attributed to each Class of Notes being, first, to the Class D Notes until the Outstanding Principal Balance of the Class thereof is reduced to USD 1 (one U.S. Dollar) or, on the Final Payment Date, zero, second, to the Class C Notes until the Outstanding Principal Balance of the Class thereof is reduced to USD 1 (one U.S. Dollar) or, on the Final Payment Date, zero, third, to the Class B Notes until the Outstanding Principal Balance of the Class thereof is reduced to USD 1 (one U.S. Dollar) or, on the Final Payment Date, zero and fourth, to the Class A Notes until the Outstanding Principal Balance of the Class thereof is reduced to USD 1 (one U.S. Dollar) or, on the Final Payment Date, zero.
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Related to Reverse Order of Seniority

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  • Technical Specifications A specification in a document defining the characteristics of a product or a service, such as the quality levels, the environmental and climate performance levels, the design for all needs, including accessibility for people with disabilities, and the evaluation of conformity, of product performance, of the use of the product, safety or dimensions, as well as requirements applicable to the product as regards the name by which it is sold, terminology, symbols, testing and test methods, packaging, marking or labelling, instructions for use, the production processes and methods at every stage in the life cycle of the supply or service, as well as the evaluation and conformity procedures;

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  • Scope of Work means the description of Services and Deliverables specified in the Contract and as may be amended.

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