Tier 2 Capital Securities definition

Tier 2 Capital Securities means (i) any security issued by the Issuer or (ii) any similar obligation issued by a subsidiary of the Issuer and guaranteed by the Issuer that, in each case, constitutes Tier 2 Capital of the Issuer on an unconsolidated or consolidated basis, pursuant to the relevant requirements issued by BNM from time to time and currently set out in the BNM Capital Adequacy Framework;

Tier 2 Capital Securities means (i) any security issued by the Issuer or (ii) any other similar obligation issued by any subsidiary of the Issuer that, in each case, constitutes Tier 2 capital of(x) the Issuer, on an unconsolidated basis or (y) the Issuer and its subsidiaries, on a consolidated basis, pursuant to the relevant requirements set out in MAS Notice 637; and

Tier 2 Capital Securities means instruments categorised as Tier 2 capital pursuant to the Capital Regulations that rank or are expressed to rank senior to the Capital Securities by operation of law or contract.

Examples of Tier 2 Capital Securities in a sentence

• The Subordinated Notes will rank pari passu with all subordinated debt issued by the Issuer that qualifies as Tier 2 Capital Securities.

• Subordinated Notes that qualified as Tier 2 Capital Securities on or before 31 December 2012, shall rank pari passu with all subordinated debt issued by the Issuer on and from 1 January 2013 that qualify as Tier 2 Capital Securities.

• Liquidation Amount: If, upon any such Winding-Up of the Issuer, the amounts available for payment are insufficient to cover the Liquidation Amount and any amounts payable on any subordinated debt issued by the Issuer that qualifies as Tier 2 Capital Securities, but there are funds available for payment so as to allow payment of part of the Liquidation Amount, then each holder of Subordinated Notes shall be entitled to receive a pro rata portion of the Liquidation Amount.

• Terms and conditions of the Subordinated Notes that may qualify as Tier 2 Capital Securities (as defined in the Note Conditions) pursuant to the relevant regulations will be set out in the relevant Pricing Supplement and (if required) a supplement to the Trust Deed.

• The Subordinated Notes will rank pari passu with Tier 2 Capital Securities and/or as otherwise specified in the applicable Pricing Supplement or in a supplement to the Offering Memorandum and any instrument or security issued, entered into or guaranteed by the Issuer that ranks or is expressed to rank, by its terms or operation of law, pari passu with a Subordinated Note.

More Definitions of Tier 2 Capital Securities

Tier 2 Capital Securities means (i) any security issued by the Issuer or (ii) any other similar instrument issued by any subsidiary of the Issuer that is guaranteed by the Issuer that, in each case, constitutes a Tier 2 capital instrument of the Issuer on an unconsolidated basis pursuant to the relevant requirements set out in MAS Notice 637.

Tier 2 Capital Securities means any security or similar obligation issued by the Issuer that constitutes Tier 2 Capital of the Issuer pursuant to the relevant requirements issued by BNM from time to time and currently set out in the Capital Adequacy Framework (Capital Components) issued by BNM on 13 October 2015;

Tier 2 Capital Securities means instruments categorised as Tier 2 capital pursuant to the Capital Regulations that rank or are expressed to rank senior to the Capital Securities by operation of law or contract (including, without limitation, the U.S.$600,000,000 Subordinated Notes due 2020 issued by the Issuer, the U.S.$500,000,000 Subordinated Notes due 2022 issued by the Issuer, the S$800,000,000 Subordinated Notes due 2022 issued by the Issuer, the U.S.$500,000,000 Tier 2 Capital Dated Subordinated Notes due 2024 issued by the Issuer and the U.S.$500,000,000 Tier 2 Capital Dated Subordinated Notes due 2026 issued by the Issuer).

Tier 2 Capital Securities means any security or other similar obligation issued by the Issuer that constitutes Tier 2 capital of the Issuer pursuant to the relevant requirements issued by BNM (currently set out in the Capital Adequacy Framework);

Tier 2 Capital Securities means any security issued by the Issuer that constitutes Tier 2 capital of the Issuer under the applicable laws and regulations in Thailand.

Tier 2 Capital Securities means any security or other similar obligation issued by the Issuer that constitutes Tier 2 capital instruments of the Issuer pursuant to the relevant requirements set out in MAS 637.”Condition 9(b)(ii) shall be deemed deleted and replaced as follows:

Tier 2 Capital Securities means (i) any security issued by the Issuer or (ii) any other similar instrument issued by any subsidiary of the Issuer that is guaranteed by the Issuer that, in each case, constitutes a Tier 2 capital instrument of the Issuer on an unconsolidated basis, pursuant to the relevant requirements set out in MAS Notice 637. (c) Set-off and Payment Void: No Securityholder may exercise, claim or plead any right of set-off, counterclaim or retention in respect of any amount owed to it by the Issuer arising under or in connection with the Perpetual Capital Securities. Each Securityholder shall, by acceptance of any Perpetual Capital Security, be deemed to have waived all such rights of set-off, counterclaim or retention to the fullest extent permitted by law. If at any time any Securityholder receives payment or benefit of any sum in respect of the Perpetual Capital Securities (including any benefit received pursuant to any such set-off, counter-claim or retention) other than in accordance with the provisions in the second paragraph of Condition 11(b) and Clause 8.3.2 of the Trust Deed, the payment of such sum or receipt of such benefit shall, to the fullest extent permitted by law, be deemed void for all purposes and such Securityholder, by acceptance of such Perpetual Capital Security, shall agree as a separate and independent obligation that any such sum or benefit so received shall forthwith be paid or returned in full by such Securityholder to the Issuer upon demand by the Issuer or, in the event of the winding-up of the Issuer, the liquidator of the Issuer, whether or not such payment or receipt shall have been deemed void under the Trust Deed. Any sum so paid or returned shall then be treated for the purposes of the Issuer’s obligations asif it had not been paid by the Issuer, and its original payment shall be deemed not to have discharged any of the obligations of the Issuer under the Perpetual Capital Securities. 4 Distributions and other Calculations