Write Down definition

Write Down means the direct reduction of the carrying amount of a loan on the balance sheet due to its impairment;

Write Down means the write down of the Outstanding Nominal Value of each Additional Tier 1 Temporary Write-Down Note (in whole or in part, as applicable) by writing down such Outstanding Nominal Value (in whole or in part, as applicable) in accordance with the Write Down Procedure.

Write Down means, with reference to these Notes, a reduction of the Outstanding Principal Amount of each Note by the relevant Write-Down Amount in accordance with Condition 6 (Loss Absorption following a Trigger Event) and “written down” shall be construed accordingly.

Examples of Write Down in a sentence

• Net Loss percentages and Average Net Losses are based on Net Losses excluding Write Down Amounts on 180-Day Receivables.

• The Borrower shall immediately notify the Lender and the Trustee in writing on the cessation of any Write Down Event.

• Subject to Clause 9 (Write Down), the Borrower will pay interest in U.S. Dollars to the Lender on the outstanding principal amount of the Loan from (and including) the Closing Date at the relevant Rate of Interest.

• The Borrower’s determination of the Interest Cancellation Amount and the Write Down Amount (if any) shall in the absence of fraud or manifest error be binding on all parties.Notwithstanding any other provision of this Agreement, an Interest Cancellation or a Write Down shall not constitute an Acceleration Event (or a Potential Acceleration Event) or a default under this Agreement.

• The Issuer’s determination of the relevant Write Down Amount shall be irrevocable and binding on all parties.

More Definitions of Write Down

Write Down means a determination by the Manager for a particular Note Investment or other Company investment (which determination has been verified by the Company’s accountants as being in conformity with generally accepted accounting principles) that the fair market value of the investment at the time the determination is made is less than the amount actually paid or allocated to the purchase of the investment, which determination shall be made by the Company and its accountants within thirty (30) days of the end of each calendar quarter and any Write-down shall be effective on the last day of the relevant calendar quarter during the term of this Agreement.

Write Down means, in respect of a Series of Additional Tier 1 Notes, a write down of the Outstanding Principal Amount of the Additional Tier 1 Notes of such Series (in whole or in part, as applicable) in accordance with the Write Down Procedure;

Write Down means, with respect to any Underlying Loan, a write down by Lender on its books and records of the unpaid principal balance of any Underlying Loan (regardless as to whether Borrower writes down any unpaid principal balance of any Underlying Loan on its books and records or whether the principal balance of the Underlying Loan is actually reduced).

Write Down means the write-down power referred to in Article 57(2) of the BRR Act 2015 and in point (6) of Article 61(1) of the BRR Act 2015.

Write Down means the write down of the Outstanding Principal Amount of each Note (in whole or in part, as applicable) by writing down such Outstanding Principal Amount (in whole or in part, as applicable) in accordance with the Write Down Procedure.

Write Down the Prevailing Principal Amount (as defined in the Conditions) of the Notes represented by this Temporary Global Note is subject to a Write-Down;

Write Down means a reduction of the Current Principal Amount of each Note by the relevant Write-Down Amount and 'Written Down' shall be construed accordingly.