Examples of U.S. Special Resolution Regimes in a sentence
To address this, the Final Rule requires a Covered Entity to ensure that each QFC it enters into (a "Covered QFC") includes provisions that (i) restrict default rights against such Covered Entity to the same extent as provided under the U.S. Special Resolution Regimes and (ii) restrict the exercise of any cross-default rights against such Covered Entity based on any affiliate's entry into bankruptcy or similar proceedings.
If we become insolvent or default on our obligations under the CBBCs or our Guarantor becomes insolvent or defaults on its obligations under the Guarantee or our Guarantor becomes subject to a resolution proceeding under the U.S. Special Resolution Regimes (as defined below), you may not be able to recover all or even part of the amount due under the CBBCs (ifany).
Section 366 of the U.S. Bankruptcy Code does not address cross-defaults or provide additional clarity regarding the application of the U.S. Special Resolution Regimes.
The stay-and-transfer provisions of the U.S. Special Resolution Regimes would not achieve their purpose of facilitating orderly resolution in the context of the failure of a GSIB with large volumes of QFCs if such QFCs could escape the effect of those provisions.
Improving timeliness and quality of plans is a priority in Cheshire East’s written statement of action following the inspection of services in March 2018.