Statutory Loss Absorption definition

Statutory Loss Absorption means the write down or otherwise the application of losses to all or part of the nominal amount of the Notes (as the case may be) including accrued but unpaid interest in respect thereof, all as prescribed by the Applicable Resolution Framework.
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Statutory Loss Absorption means the write down, conversion into Common Equity Tier 1 instruments or otherwise the application of losses to all or part of the nominal amount of the Subordinated Notes or Senior Non-Preferred Notes (as the case may be) including accrued but unpaid interest in respect thereof, all as prescribed by the Applicable Resolution Framework and in each case subject to determination by the Relevant Resolution Authority or the Issuer (following instructions from the Relevant Resolution Authority).
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Statutory Loss Absorption means any write-down, conversion, modification, suspension or similar or related power existing from time to time under, and exercised in compliance with, any applicable laws, regulations, rules or requirements pursuant to the applicable Bail-in Legislations.
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Examples of Statutory Loss Absorption in a sentence

  • No action taken pursuant to this Section 10 shall relieve any defaulting Underwriter (or any Underwriter no longer obligated to purchase the Underwritten Securities in accordance with the exercise of Statutory Loss Absorption Powers described in Section 17 hereof) from liability in respect of its failure or default.

  • Each Noteholder, by its acquisition of any Note, irrevocably authorizes (i) the Agents to take such steps as may be necessary or expedient in order to give effect to any application of any Irish Statutory Loss Absorption Powers in respect of the Notes and (ii) accepts the non-exclusive jurisdiction of the courts of Ireland in connection with any legal suit, action or proceeding arising out of or based upon the application of any Irish Statutory Loss Absorption Powers.

  • Each Noteholder also acknowledges and agrees that this provision is exhaustive on the matters described herein to the exclusion of any other agreements, arrangements or understandings relating to the application of any Statutory Loss Absorption Power to the Notes.

  • Upon the Issuer being informed and notified by the Relevant Resolution Authority of the actual exercise of any Danish Statutory Loss Absorption Powers with respect to the Notes, the Issuer shall notify the Noteholders without delay in accordance with Condition 13.

  • Any delay or failure by the Issuer to give notice shall not affect the validity and enforceability of the Danish Statutory Loss Absorption Powers nor the effects on the Notes described in this Condition 17(e).

  • Any delay or failure by the Issuer to give notice shall not affect the validity and enforceability of the Statutory Loss Absorption Power nor the effects on the Notes described in this Condition 18.

  • Upon an Issuer being informed and notified by the Relevant Resolution Authority of the actual exercise of any Statutory Loss Absorption Power with respect to the Notes, such Issuer shall notify the Noteholders without delay in accordance with Condition 15.

  • If the Mudareb becomes Non-Viable on or after the Effective Date, the Financial Regulator (or the Mudareb on instructions from the Financial Regulator) may take such action in respect of the Certificates as is required or permitted by such Applicable Statutory Loss Absorption Regime.

  • Neither a reduction or cancellation, in part or in full, of the Relevant Amounts, the conversion thereof into another security or obligation of the Issuer or another person, as a result of the exercise of the Statutory Loss Absorption Powers by the Relevant Resolution Authority with respect to the Issuer, nor the exercise of the Statutory Loss Absorption Powers by the Relevant Resolution Authority with respect to the Notes will be an event of default.

  • No repayment or payment of Relevant Amounts in respect of the Notes will become due and payable or be paid after the exercise of any Statutory Loss Absorption Powers by the Relevant Resolution Authority if and to the extent such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise.