Examples of Relevant Indebtedness in a sentence
The Borrower shall at all times cause to be maintained underlying long-term unenhanced ratings on all or part (as determined by the Borrower in its reasonable discretion) of the Relevant Indebtedness (other than the Bonds) by at least two Rating Agencies.
For the purposes of this Condition: Relevant Indebtedness means any present or future indebtedness (whether being principal, premium, interest or other amounts) for or in respect of any notes, bonds or other debt securities of, or issued by, the Issuer which (with the consent of the Issuer) are for the time being quoted, listed or ordinarily dealt in on any stock exchange, over-the-counter or other securities market.
The obligations owed to the Lender hereunder are evidenced and secured by the Capital Obligation, constitute Relevant Indebtedness, are not and shall not be subordinated to other Relevant Indebtedness and will be treated on a pari passu basis with all other Relevant Indebtedness.
Undertakings The Borrower undertakes, in relation to Relevant Indebtedness and until such time as all principal under this Agreement has been fully reimbursed and all interest and additional amounts, if any, due under this Agreement have been fully paid: to recognise that the Lender shall have the identical legal capacity, immunities and privileges as accorded to international financial institutions.
Without prejudice to Condition “Negative Pledge” of the Terms and Conditions, the Issuer has provided or may in the future provide guarantees or security interests for the benefit of holders of other indebtedness than Relevant Indebtedness incurred by the Issuer.