Synthetic Counterparty definition

Synthetic Counterparty means any financial institution counterparty required to make payments to the Issuer under a Synthetic Security pursuant to the terms of such Synthetic Security or any guarantor of any such entity with a rating of at least the applicable Rating Requirement, provided always that such financial institution has, in the case of a Synthetic Security consisting of a swap transaction, the regulatory capacity, as a matter of Dutch law, to enter into derivatives transactions with Dutch residents.

Synthetic Counterparty means any counterparty required to make payments on a Synthetic Security, which counterparty satisfies the applicable Rating Requirement (or whose obligations are guaranteed by a guarantor which satisfies the applicable Rating Requirement).

Synthetic Counterparty means any counterparty (other than the Collateral Manager or an Affiliate of the Collateral Manager) required to make payments to the Issuer under a Synthetic Security pursuant to the terms of such Synthetic Security or any guarantor of any such entity or, in the case of a Synthetic Security that represents an ownership interest in one or more assets held by the issuer of such Synthetic Security, any entity required to make payments on any such asset;

Examples of Synthetic Counterparty in a sentence

• Consequently, the Issuer will be subject to the credit risk of the Synthetic Counterparty as well as that of the Reference Entity.

• As a result, concentrations of Synthetic Securities in any one Synthetic Counterparty subject the Notes to an additional degree of risk with respect to defaults by such Synthetic Counterparty as well as by the Reference Entity.

• In addition, in the event of the insolvency of the Synthetic Counterparty, the Issuer will be treated as a general creditor of such Synthetic Counterparty, and will not have any claim with respect to the Reference Obligation.

• However, as a result of the terms of the Synthetic Security and the assumption of the credit risk of the applicable Synthetic Counterparty, a Synthetic Security may have a different expected return, a different (and potentially greater) probability of default, a different (and potentially greater) expected loss characteristic following a default and a different (and potentially lower) expected recovery following default.

• Although the Investment Manager will not perform independent credit analyses of the Synthetic Counterparties on behalf of the Issuer, any such Synthetic Counterparty, or an entity guaranteeing such Synthetic Counterparty, individually and in the aggregate will be required to satisfy the applicable Rating Requirement thereto.

More Definitions of Synthetic Counterparty

Synthetic Counterparty means any Secured Hedging Counterparty required to make or receive payments on a Synthetic Security.

Synthetic Counterparty means any counterparty required to make payments on a Synthetic Security, which counterparty satisfies the applicable Rating Requirement (or whose obligations are guaranteed by a guarantor which satisfies the applicable Rating Requirement) and which, in respect of Synthetic Securities that are derivatives transactions, has the regulatory capacity, as a matter of Dutch law, to enter into derivatives transactions with Dutch residents.

Synthetic Counterparty means any entity (other than the Issuer) that is required to make payments on a Synthetic Security (or to a trust or other entity that issued the Synthetic Security).

Synthetic Counterparty means any counterparty required to make payments on a Synthetic Security, which counterparty satisfies the applicable Rating Requirement and which, in the case of a Collateralised Credit Default Swap or a Collateralised Total Return Swap, is authorised to conduct derivatives business with residents of Ireland.

Synthetic Counterparty means any counterparty under a Synthetic Security or any guarantor of any such entity or, in the case of a Synthetic Security that represents an ownership interest in one or more assets held by the issuer of such Synthetic Security, any entity required to make payments on any such asset and who has, in the case of any Synthetic Security consisting of a swap transaction, regulatory capacity to enter into derivatives transactions with Irish residents.

Synthetic Counterparty means any counterparty under a Synthetic Security or any guarantor of any such entity. "Synthetic Counterparty Default" means in the case of any Synthetic Security:

Synthetic Counterparty means any counterparty under a Synthetic Security or any guarantor of any such entity who or which, in the case of a Synthetic Counterparty in a swap transaction, has the regulatory capacity to enter into derivative transactions with Dutch residents.