Breach of Asset Cover Test Notice definition

Breach of Asset Cover Test Notice means a notice served by the Security Trustee addressed to the Issuer and the CBC informing them that a Breach of Asset Cover Test has occurred and that, until remedied, no new Covered Bonds may be issued and that certain payments will not be made to the Issuer.
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Breach of Asset Cover Test Notice means a notice served by the Security Trustee addressed to the Issuer and the CBC informing them that a Breach of Asset Cover Test has occurred (i.e. the Asset Cover Test is breached for the second time in a row) and that, until remedied, no new Covered Bonds may be issued and that certain payments will not be made to the Issuer. BRRD means Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms, as amended from time to time.
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Breach of Asset Cover Test Notice means a notice served by the Security Trustee addressed to the Issuer and the CBC informing them that a Breach of Asset Cover Test has occurred (i.e. the Asset Cover Test is breached for the second time in a row) and that, until remedied, no new Covered Bonds may be issued and that certain payments will not be made to the Issuer. BRRD means Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms. Business Day means (i) a day on which banks are generally open for business in Amsterdam and London, provided that such day is also a day on which TARGET 2 or any successor thereto is operating credit or transfer instructions in respect of payments in euro, or (ii), if used in or by reference to Condition 5 (Interest), such day as determined in accordance with Condition 5 (Interest) and the applicable Final Terms.
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Examples of Breach of Asset Cover Test Notice in a sentence

  • Following the service of a Notice to Pay or Breach of Asset Cover Test Notice, the Asset Monitor will no later than five Business Days following receipt of the relevant information be required to carry out the agreed upon procedures with respect to the arithmetic accuracy of the calculations performed by the Administrator on each Calculation Date in respect of each Amortisation Test.

  • Without limitation, a Breach of Asset Cover Test or service of a Breach of Asset Cover Test Notice will in itself not oblige the CBC to make payments under the Guarantee.

  • If the expenditure of any expense other than travel and living expense (such as the purchase of software tools, etc…) will be necessary in order to provide the Services, please detail said expenses and the cost to the AOC.

  • After the occurrence of a Breach of Asset Cover Test, the Security Trustee will be entitled to serve a Breach of Asset Cover Test Notice on the Issuer and the CBC and thereafter, the Breach of Asset Cover Test may be remedied.

  • If a Breach of Asset Cover Test Notice has been served and provided that the Breach of Asset Cover Test has not been remedied, the CBC shall be allowed to retain the proceeds received on the Transferred Assets until the Breach of Asset Cover Test is remedied.

  • Field Trip Safety Policy (see sample at https://discover.pbcgov.org/youthservices/Pages/Provider-Application.aspx).

  • For as long as no Notification Event has occurred and no Notice to Pay, Breach of Asset Cover Test Notice or CBC Acceleration Notice has been served on the CBC, no cash flows will run through the CBC.

  • If a Breach of Asset Cover Test Notice is served by the Security Trustee on the CBC following a Breach of Asset Cover Test, the CBC will not be obliged to make payments under the Guarantee until (a) an Issuer Event of Default has occurred and an Issuer Acceleration Notice and a Notice to Pay have been served or (b) a CBC Event of Default has occurred and a CBC Acceleration Notice has been served.

  • It is anticipated that an intrusive SI in this area would be carried out during the demolition and construction phases of the Development.

  • Following the service of a Breach of Asset Cover Test Notice (until remedied), the Asset Monitor will be required to carry out procedures on the calculations performed by the Administrator in respect of the Amortisation Test on each Calculation Date.

Related to Breach of Asset Cover Test Notice

  • Buyer Losses shall have the meaning set forth in Section 8.2.

  • B-BBEE status level of contributor means the B-BBEE status of an entity in terms of a code of good practice on black economic empowerment, issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act;

  • Title IV-E Foster Care means a federal program authorized under §§ 472 and 473 of the Social