Issuer Events of Default. 7.01 The Bond Trustee at its discretion may, and if so requested in writing by the holders of at least 25 per cent. of the aggregate Principal Amount Outstanding of the Covered Bonds (which for this purpose or the purpose of any Extraordinary Resolution (as defined in the Trust Deed) referred to in this Condition 7.01 means the Covered Bonds of this Series together with the Covered Bonds of any other Series constituted by the Trust Deed) then outstanding as if they were a single Series (with the nominal amount of Covered Bonds not denominated in CAD converted into CAD at the applicable Covered Bond Swap Rate) or if so directed by an Extraordinary Resolution of all the holders of the Covered Bonds shall, (but in the case of the happening of any of the events mentioned in sub-paragraphs (b) to (f) below, only if the Bond Trustee shall have certified in writing to the Issuer and the Guarantor that such event is, in its opinion, materially prejudicial to the interests of the holders of the Covered Bonds of any Series) (subject in each case to being indemnified and/or secured to its satisfaction), give notice (an “Issuer Acceleration Notice”) in writing to the Issuer that as against the Issuer (but, for the avoidance of doubt, not against the Guarantor under the Covered Bond Guarantee) each Covered Bond of each Series is, and each such Covered Bond shall thereupon immediately become, due and repayable at its Early Redemption Amount together with accrued interest as provided in the Trust Deed if any of the following events (each, an “Issuer Event of Default”) shall occur and be continuing:
Issuer Events of Default. 7.01 The Bond Trustee at its discretion may, and if so requested in writing by the holders of at least 25 per cent. of the aggregate Principal Amount Outstanding of the Covered Bonds (which for this purpose or the purpose of any Extraordinary Resolution (as defined in the Trust Deed) referred to in this Condition 7.01 means the Covered Bonds of this Series together with the Covered Bonds of any other Series constituted by the Trust Deed) then outstanding as if they were a single Series (with the nominal amount of Covered Bonds not denominated in CAD converted into CAD at the applicable Covered Bond Swap Rate) or if so directed by an Extraordinary Resolution of all the holders of the Covered Bonds shall, (but in the case of the happening of any of the events mentioned in sub-paragraphs (b) to
Issuer Events of Default. Unless otherwise specified in the related Terms Indenture, each of the following shall constitute an "Issuer Event of Default" with respect to any Series (whatever the reason for such Issuer Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):
Issuer Events of Default. 49 SECTION 5.02. Acceleration of Maturity; Rescission and Annulment.................................................51 SECTION 5.03. Collection of Indebtedness and Suits for Enforcement by Indenture Trustee..........................53 SECTION 5.04. Remedies..................................................55 SECTION 5.05. Optional Preservation of Trust Estate.....................57 SECTION 5.06 Application of Money Collected............................58 SECTION 5.07.
Issuer Events of Default. The Bond Trustee at its discretion may, and if so requested in writing by the holders of at least 25 per cent. of the aggregate Principal Amount Outstanding of the Covered Bonds (which for this purpose or the purpose of any Extraordinary Resolution referred to in this Condition 9.1 (Issuer Events of Default) means the Covered Bonds of a Series together with the Covered Bonds of any other Series constituted by the Trust Deed) then outstanding as if they were a single Series (with the nominal amount of Covered Bonds not denominated in Canadian Dollars converted into Canadian Dollars at the relevant Covered Bond Swap Rate) or if so directed by an Extraordinary Resolution of all the Covered Bondholders will (subject in each case to being indemnified and/or secured to its satisfaction), give notice (an Issuer Acceleration Notice) in writing to the Issuer that as against the Issuer (but not, for the avoidance of doubt, against the Guarantor under the Covered Bond Guarantee) each Covered Bond of each Series is, and each such Covered Bond will thereupon immediately become, due and payable at its Early Redemption Amount together with (to the extent not included in the Early Redemption Amount) accrued interest as provided in the Trust Deed if any of the following events (each, an Issuer Event of Default) will occur and be continuing:
Issuer Events of Default. The occurrence of any of the following events shall constitute an "Issuer Events of Default" hereunder:
Issuer Events of Default. 7.01 The Bond Trustee at its discretion may, and if so requested in writing by the holders of at least 25 per cent. of the aggregate Principal Amount Outstanding of the Covered Bonds (which for this purpose or the purpose of any Extraordinary Resolution (as defined in the Trust Deed) referred to in this Condition 7.01 means the Covered Bonds of this Series together with the Covered Bonds of any other Series constituted by the Trust Deed) then outstanding as if they were a single Series (with the nominal amount of Covered Bonds not denominated in Canadian dollars converted into Canadian dollars at the applicable Covered Bond Swap Rate) or if so directed by an Extraordinary Resolution of all the holders of the Covered Bonds shall, (but in the case of the happening of any of the events mentioned in sub-paragraphs
Issuer Events of Default. Subject to Conditions 11, 12 and 16 and Clause 19, the Trustee may determine whether or not a default in the performance or observance by the Issuer of any of its obligations under this Trust Deed is in its opinion capable of remedy and/or whether or not any event is in its opinion materially adverse or prejudicial (as applicable) to the interests of the Bondholders. Any such determination will be conclusive and binding upon the Issuer, AMBAC, the Bondholders and the Couponholders.
Issuer Events of Default. An “Issuer Event of Default” shall occur if:
Issuer Events of Default. Failure of the Ambac Note Issuer to pay principal (other than at maturity) when due; provided that in the case of a failure to pay principal (other than at maturity) when due as a result of an administrative or technical error or omission such failure continues for 3 business days. • Failure of the Ambac Note Issuer to pay interest or other amounts (other than principal) in each case within 3 business days after such interest or other amount is due and unpaid. • Failure of the Ambac Note Issuer to pay principal at maturity. • Certain events of insolvency/rehabilitation/liquidation of the Ambac Note Issuer.
