Capital Deficiency Event definition

Capital Deficiency Event means the first date on which either of the following events occurs:

Capital Deficiency Event means the occurrence of (i) the Issuer giving notice to the Holders that the relevant Capital Ratio is below the Trigger Ratio, or (ii) the Competent Authority notifying the Issuer that it has determined, in its absolute discretion, that the Group’s financial and solvency condition is deteriorating in such a way that the relevant Capital Ratio is likely to be below the Trigger Ratio in the short term;

Capital Deficiency Event means, as of the relevant date, (i) the Capital Adequacy Condition is not met or (ii) the Relevant Supervisory Authority has issued any order of prompt corrective action (souki zesei sochi) in relation to regulatory capital requirements to Asahi Life and such order remains in effect.

Examples of Capital Deficiency Event in a sentence

• An End of Capital Deficiency Event shall be deemed to occur pursuant to paragraph (a) above on the date on which the Issuer publishes its annual or half-year results indicating that the total risk-based consolidated capital ratio has been restored to the relevant level, or on any such other date on which the Issuer determines that such ratio has been so restored.

• Interest Payable on Optional Interest Payment Dates after End of Capital Deficiency Event At the option of the Issuer, any Broken Interest, to the extent not reduced to absorb losses in accordance with Condition 5.1, may be paid on the first Optional Interest Payment Date falling on or after the date of the End of Capital Deficiency Event.

• Such notice shall be given as soon as practicable following the occurrence of a Capital Deficiency Event and of any End of Capital Deficiency Event.

• As appropriate, the Issuer will make a new determination and deliver other notice(s) with respect to any subsequent Interest Payment Date in relation to which a Capital Deficiency Event is continuing or occurs again.

• In addition, the amount of Broken Interest may be reduced to absorb losses in accordance with Condition 5.1; and (y) no interest on the Notes shall accrue nor be payable by the Issuer with respect to the remaining period in such Interest Period or any other Interest Period during the period starting on the date of the Capital Deficiency Event and ending on the date of the End of Capital Deficiency Event.

More Definitions of Capital Deficiency Event

Capital Deficiency Event means (A) as a result of losses incurred by the Issuer, on a consolidated or non-consolidated basis, the total risk-based capital ratio (coefficiente patrimoniale complessivo) of the Issuer, on a consolidated or non- consolidated basis as calculated in accordance with applicableItalian banking laws and regulations, and either (1) reported in the Issuer’s reporting to the Lead Regulator (currently Matrice dei Conti) or (2) determined by the Lead Regulator and communicated to the Issuer, in either case, falls below the then minimum requirements of the Lead Regulator specified in applicable regulations (currently equal to five per cent. pursuant to the Nuove Disposizioni di Vigilanza Prudenziale per le Banche, set out in the Bank of Italy’s Circolare n. 263, dated 27 December 2006); or (B) the Lead Regulator, in its sole discretion, notifies the Issuer that it has determined that the Issuer’s financial condition is deteriorating such that an event specified in (A) above is likely to occur in the short term.Where the Issuer is prohibited from paying interest pursuant to Condition 5(b) (Interest suspension - Mandatory suspension of interest) it shall not have any obligation to make such interest payment on the relevant Interest Payment Date, and the failure to pay such interest shall not constitute a default of the Issuer or any other breach of obligations under the Conditions or for any purpose.Interest on the Notes will not be cumulative and interest that the Issuer is prohibited from paying pursuant to Condition 5(b) (Interest suspension - Mandatory suspension of interest) will not accumulate or compound and all rights and claims in respect of any such amounts shall be fully and irrevocably cancelled and forfeited.Mandatory payment of interest: The Issuer is required to pay interest (including, withoutlimitation, in the event of a Capital Deficiency Event) on any Interest Payment Date (A) in part, pari passu and pro rata, if and to the extent that during the 12-month (or 6-month or 3-month for securities (other than shares) where remuneration is paid, respectively, every 6 or 3 months) period prior to such Interest Payment Date the Issuer or any Subsidiary has declared, made, approved or set aside for payment a partial distribution in respect of any Parity Securities; and/or (A) in full if and to the extent that during the 12-month (or 6-month or 3-month for securities (other than shares) where remuneration is paid, respectively, every 6 or 3 months) period ...

Capital Deficiency Event means, as at the relevant date,

Capital Deficiency Event means the occurrence of (i) the Issuer giving notice to the Holders that the relevant Capital Ratio is below the Trigger Ratio, or (ii) the Competent Authority notifying the Issuer that it has determined, in its absolute discretion, that the Group‟s financial and solvency condition is deteriorating in such a way that the relevant Capital Ratio is likely to be below the Trigger Ratio in the short term;

Capital Deficiency Event means a decline in the total risk-based capital ratio of the Issuer, calculated in accordance with the Applicable Banking Regulations, to below the minimum percentage required by the Applicable Banking Regulations, calculated on a non-consolidated basis (as well as, if and when the Issuer prepares consolidated accounts, on a consolidated basis, as the case may be).

Capital Deficiency Event means, as at the relevant date, (x) the Issuer being designated as an “insolvent financial institution” under subparagraph 2 of Article 2 of the Act on the Structural Improvement of the Financial Industry, as amended or modified from time to time, or (y) either a “management improvement recommendation,” a “management improvement requirement” or a “management improvement order” has been issued by the Financial Services Commission of Korea (the “FSC”) under the Articles 7-17, 7-18 and 7-19, respectively, or an “emergency measure” is imposed by the FSC under the Article 7-43, of the Regulation on Supervision of Insurance Business (as amended or modified from time to time, the “RSIB”).

Capital Deficiency Event means either:

Capital Deficiency Event. ’ means (A) as a result of losses incurred by the Issuer, on a consolidated or non-consolidated basis, the total risk-based capital ratio (coefficiente patrimoniale complessivo) of the Issuer, on a consolidated or non-consolidated basis as calculated in accordance with