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, 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 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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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).

  • Such Outstanding Principal Balance Reduction Amount will be allocated to the Notes in the Reverse Order of Seniority until the Outstanding Principal Balance of each Note of each Class is reduced to the Minimum Balance.

  • On the same date, the Principal Balance of the Notes will be reduced by an amount equal to the Credit Protection Payment Amount and such amount will be applied to reduce the Principal Balance of each Class to zero, in Reverse Order of Seniority beginning with the most junior Notes then outstanding.

  • The finely powdered samples were placed in Kapton capillary tubes for XRD measurements.

  • The direct effect of changes in extra-atmospheric spectral distribution of solar radiation.

  • The Adjusted Principal Balance of the Notes will be written down (in Reverse Order of Seniority) by an amount equal to the Issuer Payment.

  • There are several techniques to encourage participation – • Encourage Participation in the Reverse Order of Seniority – This means getting the junior members to speak or air their opinions first.

  • TIME AND PERMANENT PART-TIME EMPLOYEES) Lay-off in Reverse Order of Seniority Both parties recognize that job security shall increase in proportion to seniority.

  • Each such reduction of Outstanding Principal Ba lance will be made to the Notes in the Reverse Order of Seniority in the manner described in the Conditions.

  • Voluntary layoffs will reduce the impact of involuntary layoffs.711 Layoffs by Reverse Order of Seniority Layoffs of any employee(s) within any classification shall be based upon reverse order of seniority, provided those remaining are qualified to perform the work required.


More Definitions of Reverse Order of Seniority

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 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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Related to Reverse Order of Seniority

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