Interest Cancellation Amount definition

Interest Cancellation Amount means all or such part of the amount of the interest accrued to (but excluding) the Write Down Measure Effective Date that is determined by the Borrower as necessary to be cancelled (in conjunction with any interest cancellation measures taken in respect of Write Down Instruments which qualify as Additional Tier 1 Capital) in order to immediately remedy a Write Down Event.

Interest Cancellation Amount means the amount of the interest determined by Gazprombank as necessary to be cancelled (in conjunction with any other interest cancellation measures taken in respect of Parity Write Down Instruments) in order to immediately remedy the Write Down Event, or if this is not possible, the full amount of the interest, in each case accrued to (but excluding) the Write Down Measure Effective Date.

Interest Cancellation Amount means all or such part of the amount of the interest accrued to (but excluding) the Write Down Measure Effective Date, determined by the Borrower as necessary to be cancelled (in conjunction with any Write Down Amount) in order to immediately remedy the Write Down Event;

Examples of Interest Cancellation Amount in a sentence

• 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.

• Subject to this Clause 8 (Write Down), the Borrower shall determine the Interest Cancellation Amount and the Write Down Amount in its sole discretion and shall set out its determination thereof in the Write Down Event Notice together with the then remaining outstanding principal amount of the Loan (if any) and the then remaining accrued but unpaid interest (if any) following the relevant Cancellation and/or Write Down in accordance with this Clause 8 (Write Down).

• The Borrower’s determination of the Interest Cancellation Amount and the Write Down Amount shall in the absence of fraud or manifest error be binding on all parties.

• The Borrower's determination of the Interest Cancellation Amount and the Write Down Amount shall in the absence of fraud or manifest error be binding on all parties.

• Subject to this Clause 8, the Borrower shall determine the Interest Cancellation Amount and the Write Down Amount in its sole discretion and shall set out its determination thereof in the Write Down Measure Notice together with the then remaining outstanding principal amount of the Loan (if any) and the then remaining accrued but unpaid interest (if any) following the relevant Cancellation and/or Write Down in accordance with this Clause 8.

• The Interest Cancellation Amount and the Write Down Amount shall be calculated by the Borrower and independently reviewed by the auditors for the time being of the Borrower or such other accountant or firm of accountants of recognised standing appointed by the Borrower for the purpose of such review.

• Subject to this Clause 8, the Borrower shall determine the Penalties Cancellation Amount, the Interest Cancellation Amount and the Principal Write Down Amount in its sole discretion and shall set out its determination thereof in the Write Down Measure Notice.

• Sberbank's determination of the Interest Cancellation Amount and the Write Down Amount shall in the absence of fraud or manifest error be binding on all parties.

• For the purpose of this paragraph, the Interest Cancellation Amount and Write Down Amount shall be deemed to have been "determined" once the relevant amount is confirmed following the independent review.

• No Interest shall accrue as long as a Write Down Event(s) is(are) continuing.Subject to this Clause 8, Home Credit shall determine the Interest Cancellation Amount and the Write Down Amount in its sole discretion and shall set out its determination thereof in the relevant Write Down Measure Notice together with the then remaining outstanding principal amount of the Loan (if any) and the then remaining accrued but unpaid interest (if any) following the relevant Write Down in accordance with this Clause 8.

More Definitions of Interest Cancellation Amount

Interest Cancellation Amount means the amount of interest determined by the Borrower as necessary to be cancelled (in conjunction with any other interest cancellation measures taken in respect of Parity Loss Absorption Instruments) in order to immediately remedy the Trigger Event, or if this is not possible, the full amount of interest, in each case accrued to (but excluding) the Loss Absorption Effective Date.

Interest Cancellation Amount means all or such part of the amount of the interest accrued to (but excluding) the Write Down Measure Effective Date, determined by Sberbank as necessary to be cancelled (in conjunction with any Write Down Amount and any other interest cancellation measures taken in respect of any other Write Down Instruments, as the case may be) in order to remedy immediately the Write Down Event.

Interest Cancellation Amount means the amount of Unpaid Interest determined by the Borrower as necessary to be cancelled (in conjunction with any Write Down Amount) in order to immediately remedy the Write Down Event, or if this is not possible, the full amount of Unpaid Interest.