Alignment Event means, in respect of a Series of Senior Non-Preferred Notes, as a result of any change in, or amendment to, section 13(3) of the Danish Recovery and Resolution Act, CRD/CRR and/or BRRD (including any provision of Danish law transposing or implementing BRRD) and/or the legislation relating to the Debt Buffer Requirement (as applicable), at any time after the date of issue of the last Tranche of such Notes, Nykredit Realkredit would be able to issue an Eligible Liability that contains one or more provisions that are, in the reasonable opinion of Nykredit Realkredit, different in any material respect from those in the Conditions;
Alignment Event means, in the opinion of the Issuer, that any modifications to the terms of the Notes are necessary to reflect the implementation, of or to enable the Senior Non-Preferred Notes to have the benefit of and be subject to, the Creditor Hierarchy Directive as implemented in the Relevant Jurisdiction, including (without limitation) (i) in connection with achieving the lower priority ranking contemplated by Article 108(2) of the BRRD in accordance with Condition 4(b) or (ii) for the purposes of achieving consistent ranking provisions with other Series of Senior Non- Preferred Notes;
Alignment Event has the meaning assigned to such term in Condition 5 (Redemption and Purchase).
Examples of Alignment Event in a sentence
For the avoidance of doubt, it is understood that, if, upon the occurrence of a Tax Event, Regulatory Event, Change in Progressive Capital Component Requirement or Alignment Event, the Issuer elects not to early redeem the Notes pursuant to this Condition 5, nothing in this Condition 5 shall prohibit the Issuer from redeeming any other instruments issued by any member of the Group pursuant to the terms thereof.
More Definitions of Alignment Event
Alignment Event has the meaning assigned to such term in Condition 5.
Alignment Event means, in respect of a Series of Notes, as a result of the implementation of the Senior Ranking Amendment Legislation and/or any change in, or amendment to, the Senior Ranking Amendment Legislation and/or CRD IV and/or BRRD (including any provision of Danish law transposing or implementing BRRD) and/or the legislation relating to the Debt Buffer Requirement (as applicable), at any time after the date of issue of the last Tranche of Notes, the Issuer would be able to issue an Eligible Liabilitythat contains one or more provisions that are, in the reasonable opinion of the Issuer, different in any material respect from those in the Conditions;
Alignment Event has the meaning assigned to such term in Condition 11 (Substitution and Amendment).
Alignment Event is deemed to have occurred if there is a change in or amendment to, the Applicable TLAC/MREL Regulations, or any change in the application or interpretation thereof, that results in the requirements of unsubordinated and unsecured instruments qualifying as senior non preferred obligations (créditos ordinarios no preferentes) under Additional Provision 14.2º of Law 11/2015, as amended or superseded from time to time, or qualifying as TLAC/MREL-Eligible Instruments being different in any respect from the terms and conditions of the Senior Non Preferred Notes of any of the series issued. Further, an Alignment Event will be deemed to have occurred if as a result of the relevant change or amendment, only securities issued on or following a certain date which is after the issue date of the Senior Non Preferred Notes may qualify as unsubordinated and unsecured senior non preferred obligations (créditos ordinarios no preferentes) of the Company under Additional Provision 14.2º of Law 11/2015, as amended or superseded from time to time.
Alignment Event means, at any time on or after the Closing Date, a change in, or amendment to, the Applicable Banking Regulations (including, for the avoidance of doubt, Applicable MREL Regulations), or any change in the application or interpretation thereof, that results in the requirements for an instrument to qualify as Additional Tier 1 Capital and/or to comply with MREL Requirements being different in any respect from the Conditions, provided that if an event or circumstance which would otherwise constitute an Alignment Event also constitutes a Capital Event or an Eligible Liabilities Event, it will be treated as a Capital Event or as an Eligible Liabilities Event and will not constitute an Alignment Event;
Alignment Event means, in respect of a Series of Notes, as a result of any change in, or amendment to, the Senior Ranking Amendment Legislation and/or CRD IV and/or BRRD (including any provision of Danish law transposing or implementing BRRD) and/or the legislation relating to the Debt Buffer Requirement (asapplicable), at any time after the date of issue of the last Tranche of Notes, the Issuer would be able to issue an Eligible Liability that contains one or more provisions that are, in the reasonable opinion of the Issuer, different in any material respect from those in the Conditions;