Subordinated Instruments definition
Examples of Subordinated Instruments in a sentence
Without prejudice to the generality of the foregoing in the event that the provisions of Condition 7.2 (in the case of Senior Instruments) or Condition 6.2 (in the case of Subordinated Instruments) become relevant, the Issue and Paying Agent shall make available for inspection by Holders the documents referred to therein.
For purposes of this Section 13, to the extent that any provisions of any of the Subordinated Instruments provide rights, remedies and benefits to Senior Lender that exceed the rights, remedies and benefits provided to Senior Lender under this Agreement, such provisions of the applicable Subordinated Instruments shall be deemed to supplement (and not to conflict with) the provisions hereof.
Simultaneous with the execution of this Agreement, the Bridge Instrumentholders have executed and delivered an agreement (the "Bridge Contribution Agreement") pursuant to which the Bridge Instrumentholders shall contribute the Bridge Instruments to KSI in exchange for issuance by KSI to the Bridge Instrumentholders of Junior Subordinated Instruments, in form and substance similar to Exhibit A to the Bridge Contribution Agreement (collectively, the "KSI Bridge Instruments").
Each and every right, remedy and power granted to Senior Lender hereunder shall be cumulative and in addition to any other right, remedy or power specifically granted herein, in the Credit Agreement or the other Related Documents, in the Subordinated Instruments or now or hereafter existing in equity, at law, by virtue of statute or otherwise, and may be exercised by Senior Lender, from time to time, concurrently or independently and as often and in such order as Senior Lender may deem expedient.
In the event of any conflict between any term, covenant or condition of this Agreement and any term, covenant or condition of any of the Subordinated Instruments, the provisions of this Agreement shall control and govern.
Any such modification shall be binding on the Holders and, unless the Trustee otherwise agrees, shall be notified to the Holders in accordance with Condition 15 (in the case of Senior Instruments) or Condition 12 (in the case of Subordinated Instruments) as soon as practicable after it has been agreed.
In the event of any conflict between any term, covenant or condition of this Agreement and any term, covenant or condition of any of the Subordinated Instruments, the Loan Agreement and the other Loan Instruments, the provisions of this Agreement shall control and govern.
Accordingly, except in the case of a Restricted Default Event, if the relevant Issuer fails to meet any obligations under the Senior Preferred MREL Instruments, Senior Non-Preferred Instruments or Subordinated Instruments, including the payment of any interest, investors will not have the right of acceleration of principal.
The issue or guaranteeing of any such securities or the incurrence of any such other liabilities may reduce the amount (if any) recoverable by Holders during a winding-up of the Guarantor and may limit the Guarantor’s ability to meet its obligations under the Subordinated Instruments.
As such, the relevant Issuer would not be required to pay any additional amounts under the terms of the Senior Preferred MREL Instruments, Senior Non-Preferred Instruments and Subordinated Instruments to the extent any withholding or deduction applied to payments of principal.