Unsettled Credit Events definition

Unsettled Credit Events means, in respect of a Reference Obligation, the Conditions to Settlement have been satisfied but the relevant Cash Settlement Date has not occurred.
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Unsettled Credit Events means, a Credit Event in respect of a Reference Obligation, where the relevant Event Determination Date occurs before the Scheduled Maturity Date but the corresponding Cash Settlement Date occurs after such date.
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Unsettled Credit Events means, a Credit Event in respect of a Reference Obligation, where the relevant Event Determination Date occurs before the Scheduled Maturity Date or the Early Redemption Date, as the case may be, but the corresponding Cash Settlement Date occurs after such date.2. REDEMPTION OR REDUCTION OF THE NOTES FOLLOWING THE OCCURRENCE OF A CREDIT EVENT2.1 Adjustment of Principal Amount and Deferral of Principal Payments
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Examples of Unsettled Credit Events in a sentence

  • If there are any Unsettled Credit Events as at the Credit Event Observation Period End Date, the Warrant Extended Maturity Date may not be the final maturity date for the Notes and the final maturity date will be the later of the Extended CDS Termination Date and the Warrant Extended Maturity Date.

  • Such occurrence may arise where there are Unsettled Credit Events under the Credit Default Swap Transactions as at the Credit Event Observation Period End Date.

  • Extension of the Maturity Date of the Notes as a result of Unsettled Credit Events It follows from the above description of payments under the Credit Default Swap Transactions and the Repo Transactions and allocation of losses following a Credit Event that the termination date of the Credit Default Swap Transactions may extend beyond the Repurchase Date of the related Repo Transactions and, accordingly, the final maturity date of the Notes may be extended beyond the Scheduled Maturity Date.

  • In certain circumstances including but not limited to Unsettled Credit Events or in case of Physical Settlement if the Calculation Agent determines that the Specified Deliverable Obligation(s) are Undeliverable Obligation(s), (i) the timing of valuation of the Warrants may be deferred and as a result the amounts payable to the Warrantholders may be adversely affected and (ii) payment or delivery of any amount due to the Warrantholders may be deferred without compensation to the Warrantholders.

  • If there are any Unsettled Credit Events as at the Credit Event Observation Period End Date, the Warrant Extended Maturity Date will not be the final maturity date for the Securities and the final maturity date will be the Extended CDS Maturity Date, as described below.

  • Extension of the Maturity Date of the Notes as a result of Unsettled Credit Events It follows from the above description of payments under the Credit Default Swap Transactions and allocation of losses following a Credit Event that the termination date of the Credit Default Swap Transactions may extend beyond the Final Exchange Date and, accordingly, the final maturity date of the Notes may be extended beyond the Scheduled Maturity Date.

  • The consequences of the occurrence of Credit Events or the existence of any Unsettled Credit Events as at the Credit Event Observation Period End Date are described in more detail below.

  • Impact of the Credit Default Swap Transactions on the Class A Securities Consequence of Credit Events and Unsettled Credit Events, including partial redemption of Class A Securities On the Issue Date, the Issuer will enter into the Credit Default Swap Transaction relating to the Class A Securities.

  • Impact of the Credit Default Swap Transactions on the Class C Securities Consequence of Credit Events and Unsettled Credit Events, including partial redemption of Class C Securities On the Issue Date, the Issuer will enter into the Credit Default Swap Transaction relating to the Class C Securities.

  • The consequences of the occurrence of a Credit Event or the existence of any Unsettled Credit Events as at the Credit Event Observation Period End Date are described in more detail below.


More Definitions of Unsettled Credit Events

Unsettled Credit Events means, in respect of a Reference Obligation with respect to which a Credit Event has occurred, the Conditions to Settlement have been satisfied but the relevant Cash Settlement Date has not occurred.
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Unsettled Credit Events means, as of the Credit Observation End Date and each Additional Interest Payment Date, as determined by the Counterparty, in respect of any Reference Entity:
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Related to Unsettled Credit Events

  • Credit Event UPB With respect to any Credit Event Reference Obligation, the unpaid principal balance thereof as of the end of the Reporting Period related to the Payment Date that it became a Credit Event Reference Obligation.

  • Credit Event shall have the meaning assigned to such term in Section 4.01.

  • Credit Event Amount With respect to each Payment Date, the aggregate amount of the Credit Event UPBs of all Credit Event Reference Obligations for the related Reporting Period.

  • DC Credit Event Announcement means, with respect to the Reference Entity, a public announcement by the DC Secretary that the relevant Credit Derivatives Determinations Committee has Resolved that an event that constitutes a Credit Event has occurred on or after the Credit Event Backstop Date and on or prior to the Extension Date, provided that if the Credit Event occurred after the Scheduled Maturity Date, the DC Credit Event Announcement must relate to the relevant Potential Failure to Pay, in the case of a Grace Period Extension Date, or the relevant Potential Repudiation/Moratorium, in the case of a Repudiation/Moratorium Evaluation Date.

  • Reversed Credit Event Reference Obligation With respect to any Payment Date means a Reference Obligation formerly in the Reference Pool that became a Credit Event Reference Obligation in a prior Reporting Period that is found in the related Reporting Period, through Xxxxxxx Mac’s quality control process, to have an Underwriting Defect or a data correction that invalidates the previously determined Credit Event.

  • Credit Event Notice means an irrevocable notice from the Issuer or the Swap Counterparty, as the case may be, to the other party (in the form and delivered in the manner described in the Default Swap) that describes a Credit Event that occurred on or after the Effective Date of the Default Swap.

  • Credit Event Net Loss With respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of (a) the sum of: (i) the related Credit Event UPB; (ii) the total amount of prior principal forgiveness modifications, if any, on the related Credit Event Reference Obligation; and (iii) delinquent accrued interest thereon, calculated at the related Current Accrual Rate from the related last paid interest date through the date Freddie Mac determines such Reference Obligation has been reported as a Credit Event Reference Obligation, over (b) the related Net Liquidation Proceeds.

  • Credit Event Net Gain With respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of (a) the related Net Liquidation Proceeds; over (b) the sum of (i) the related Credit Event UPB; (ii) the total amount of prior principal forgiveness modifications, if any, on the related Credit Event Reference Obligation; and (iii) delinquent accrued interest thereon, calculated at the related Current Accrual Rate from the related last paid interest date through the date Freddie Mac determines such Reference Obligation has been reported as a Credit Event Reference Obligation.

  • Revolving Credit Documents means the Revolving Credit Agreement and the Revolving Credit Collateral Documents.

  • Credit Event Upon Merger has the meaning specified in Section 5(b).

  • Existing Letters of Credit means each of the letters of credit issued under the Existing Credit Agreement outstanding on the Closing Date that are described on Schedule 1.01(b).

  • Credit Event Reference Obligation means, with respect to any Payment Date, any Reference Obligation with respect to which a Credit Event has occurred.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Existing Credit Documents means (a) the Existing Credit Agreement, (b) the promissory notes made by Borrower thereunder, and (c) all deeds of trust, mortgages, security agreements, and other documents, instruments or agreements executed and delivered in connection therewith by any Restricted Person, or any predecessor in interest to any Restricted Person.

  • Credit Event Resolution Request Date means, with respect to a notice to ISDA requesting that a Credit Derivatives Determinations Committee be convened to resolve:

  • Revolving Credit Expiration Date means September 30, 2000.

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Total Revolving Credit Exposure means, at any time, the sum of the outstanding principal amount of all Lenders’ Revolving Loans, their LC Exposure and their Swingline Exposure at such time; provided, that clause (a) of the definition of Swingline Exposure shall only be applicable to the extent Lenders shall have funded their respective participations in the outstanding Swingline Loans.

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • LC Outstandings means, on any date of determination, the sum of (i) the undrawn stated amounts of all Letters of Credit that are outstanding on such date plus (ii) the aggregate principal amount of all unpaid reimbursement obligations of the Borrower on such date with respect to payments made by any LC Issuing Bank under any Letter of Credit (excluding reimbursement obligations that have been repaid with the proceeds of any Borrowing). The LC Outstandings with respect to any Lender at any time shall be its Commitment Percentage of the total LC Outstandings at such time.

  • Incremental Revolving Credit Loans shall have the meaning provided in Section 2.14(b).

  • Revolving Loan Documents means the “Loan Documents” as defined in the Revolving Credit Agreement.

  • Revolving Credit Agreement means that certain Revolving Credit Agreement dated as of August 30, 2004 between the Company, certain of its Subsidiaries and the banks and financial institutions listed therein, as such agreement may be replaced, amended, supplemented or otherwise modified from time to time.

  • Swing Line Loans as defined in Section 2.6.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.