Undeliverable Obligation definition

Undeliverable Obligation means each Valuation Obligation in respect of which a Partial Cash Settlement Trigger Event has occurred.
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Undeliverable Obligation means a Deliverable Obligation included in the Entitlement which, on the Credit Settlement Date for such Deliverable Obligation, the Calculation Agent determines for any reason (including without limitation, failure of the relevant clearance system or due to any law, regulation, court order, contractual restrictions, statutory restrictions or market conditions or the non-receipt of any requisite consents with respect to the Delivery of Loans or non-delivery of an Asset Transfer Notice or any relevant information by a holder) it is impossible or illegal or impractical to Deliver on the Credit Settlement Date.
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Undeliverable Obligation means a Deliverable Obligation included in the Asset Amount which, on the Settlement Date for such Deliverable Obligation, the Calculation Agent determines for any reason (including, without limitation, failure of the relevant clearance system or due to any law, regulation, court order or market conditions or the non-receipt of any requisite consents with respect to the Delivery of Consent Required Loans or Assignable Loans) it is impossible or illegal to Deliver on the Settlement Date.
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Examples of Undeliverable Obligation in a sentence

  • The Calculation Agent shall determine, based on the then current market practice in the market of the relevant Undeliverable Obligation or Hedge Disruption Obligations, as the case may be, whether such Quotations shall include or exclude accrued but unpaid interest.

  • In the event that the Calculation Agent receives an all-in bid price for an amount of the Undeliverable Obligation that differs from the relevant actual nominal amount of that type of Undeliverable Obligation it shall determine the all-in bid price for the nominal amount of each relevant Undeliverable Obligation as a pro rata amount of the price obtained.

  • The “Affected Securityholder Value” for an Affected Securityholder in respect of an Undeliverable Obligation or amount of Undeliverable Obligations of the same type, shall be the product of the respective Affected Securityholder Proportion and the Value for such Undeliverable Obligation or amount of Undeliverable Obligations of the same type.

  • The “ Affected Securityholder Cash Redemption Amount” for an Affected Securityholder shall be the sum of each Affected Securityholder Value for each type of Undeliverable Obligation the delivery of which to such Securityholder is affected by circumstances described in (A), (B) and/or (C) of Product Term 2(e)(i).

  • The Bank will pay to each Affected Securityholder in accordance with the Asset Delivery Notice within five Business Days following the Undeliverable Obligation Valuation Date the respective Affected Securityholder Cash Redemption Amount irrespective of whether the relevant Credit Event and the circumstances described in (A), (B) and/or (C) above are continuing.

  • If two Quotations only are provided, the respective Value for such Undeliverable Obligation shall be the arithmetic mean of such Quotations.

  • If, following the Calculation Agent's request, more than three Quotations are provided or determined (as the case may be) in respect of an Undeliverable Obligation, the Calculation Agent shall disregard the highest and lowest Quotations and the respective Value for such Undeliverable Obligation shall be the arithmetic mean of the remaining Quotations.

  • If more than one Quotation in respect of an Undeliverable Obligation has the same highest or lowest value, then the Calculation Agent shall disregard one such Quotation.

  • If no Quotation is provided, the respective Value for such Undeliverable Obligation shall be determined by the Calculation Agent in its absolute discretion.

  • If the Company shall, during the currency of this agreement, enter in to arrangements with any of its customer/s providing greater benefits or more favourable terms, the agreement shall thereupon be deemed to be amended to provide the same terms to the Bank as if such terms were incorporated herein and are applicable hereto.


More Definitions of Undeliverable Obligation

Undeliverable Obligation means each Valuation Obligation in respect of which a Partial Cash Settlement Trigger Event has occurred.ANNEX A: CREDIT ANNEX This Credit Annex is incorporated into, and forms part of, the Pricing Supplement and sets forth important provisions relating to the contingent nature of the obligation on the Issuer with respect to notes, certificates or warrants (collectively, the "Securities") to pay principal and interest on the Securities. Unless otherwise defined herein, terms used in this Credit Annex shall have the meanings ascribed to them elsewhere in the Pricing Supplement
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Undeliverable Obligation means a Deliverable Obligation included in the Notice of Physical Settlement or NOPS Amendment Notice, as applicable, which, on the Settlement Date for such Deliverable Obligation, the Calculation Agent determines for any reason (including without limitation, failure by the Holder to deliver an Asset Transfer Notice, failure of the relevant clearance system or due to any law, regulation, court order or market conditions or the non-receipt of any requisite consents with respect to the Delivery of Loans) it is impossible or illegal to Deliver on the Settlement Date.
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Undeliverable Obligation means either:
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Undeliverable Obligation means in the event that the Issuer (or any nominee thereof) is unable to Deliver any portion of the Deliverable Obligation included in the Entitlement on the
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Undeliverable Obligation means a Deliverable Obligation comprising part of the Adjusted Deliverable Obligation Set which the Issuer (and/or the Swap Counterparty or its Affiliate acting on behalf of the Issuer) has not Delivered to the Noteholder on or prior to the Physical Settlement Cut-off Date for any reason whatsoever, including without limitation, due to:
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Undeliverable Obligation means in the event that the Issuer (or any nominee thereof) is unable to Deliver any portion of the Deliverable Obligation included in the Entitlement on the Credit Settlement Date due to (a) an event beyond the control of such person (including,
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Related to Undeliverable Obligation

  • Eligible obligation means an obligation issued or incurred by an authority or by a municipality on behalf of an authority before August 19, 1993 and its subsequent refunding by a qualified refunding obligation. Eligible obligation includes an authority’s written agreement entered into before August 19, 1993 to pay an obligation issued after August 18, 1993 and before December 31, 1996 by another entity on behalf of the authority.

  • Conditionally Transferable Obligation means a Valuation Obligation that is either Transferable, in the case of Bonds, or capable of being assigned or novated to all Modified Eligible Transferees without the consent of any person being required, in the case of any Valuation Obligation other than Bonds, in each case, as of the Valuation Date, provided, however, that a Valuation Obligation other than Bonds will be a Conditionally Transferable Obligation notwithstanding that consent of the Reference Entity or the guarantor, if any, of a Valuation Obligation other than Bonds (or the consent of the relevant obligor if the Reference Entity is guaranteeing such Valuation Obligation) or any agent is required for such novation, assignment or transfer so long as the terms of such Valuation Obligation provide that such consent may not be unreasonably withheld or delayed. Any requirement that notification of novation, assignment or transfer of a Valuation Obligation be provided to a trustee, fiscal agent, administrative agent, clearing agent or paying agent for a Valuation Obligation shall not be considered to be a requirement for consent for purposes of Section 3.32(b).

  • Fully Transferable Obligation means a Valuation Obligation that is either Transferable, in the case of Bonds, or capable of being assigned or novated to all Eligible Transferees without the consent of any person being required, in the case of any Valuation Obligation other than Bonds, in each case, as of the Valuation Date. Any requirement that notification of novation, assignment or transfer of a Valuation Obligation be provided to a trustee, fiscal agent, administrative agent, clearing agent or paying agent for a Valuation Obligation shall not be considered to be a requirement for consent for purposes of Section 3.31.

  • Eligible Obligor On any date of determination, any Obligor that:

  • Government Obligation means (a) any security that is (i) a direct obligation of the United States of America of which the full faith and credit of the United States of America is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America or the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (b) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any Government Obligation that is specified in clause (a) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any Government Obligation that is so specified and held, provided, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt.

  • Relevant Obligation means an obligation under this contract in respect of which a Force Majeure Event has occurred and the Affected Party has claimed relief under this Clause 17.

  • Reference Obligation means an obligation used for the purposes of determining the cash settlement value of a credit derivative;

  • Escrow Obligations means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar or the Registrar, as the case may be, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Secured Tax Claim means any Secured Claim that, absent its secured status, would be entitled to priority in right of payment under section 507(a)(8) of the Bankruptcy Code (determined irrespective of time limitations), including any related Secured Claim for penalties.