Examples of Subordinated in a sentence
The Borrower shall utilize the proceeds of the Releases hereunder solely for (i) the purchase of Transferred Receivables from the Originators pursuant to the Sale Agreement and (ii) the repayment of Subordinated Loans.
By virtue of such subordination, payments to a Subordinated Noteholder will, in the event of the Winding-Up of the Issuer, only be made after all obligations of the Issuer resulting from Non Tier- 2 Senior Claims have been satisfied.
The Borrower shall not at any time (i) advance credit to any Person or (ii) declare any distributions, repurchase any Stock, return any capital, or make any other payment or distribution of cash or other property or assets in respect of the Borrower’s Stock or make a repayment with respect to any Subordinated Loans if, after giving effect to any such advance or distribution, a Funding Excess, Incipient Termination Event or Termination Event would exist or otherwise result therefrom.
Each Note is a Senior Preferred Note, a Senior Non-Preferred Note or a Subordinated Note (where certain Subordinated Notes may be intended to qualify as Tier 2 Notes (as specified in the applicable Final Terms) for the purposes of the regulatory capital rules applicable to the Issuer from time to time).
Subordinated Notes intended to qualify as Tier 2 Notes The Subordinated Notes intended to qualify as Tier 2 Notes and the relative Coupons constitute subordinated and unsecured obligations of the Issuer and rank pari passu without any preference among themselves and with all other present and future Tier 2 own funds instruments (and senior to Tier 1 capital items as referred to in Article 25 of Regulation (EU) No 575/2013, as amended).