Class P Subordinated Component definition

Class P Subordinated Component means the portion of the Class P Combination Notes comprised of Subordinated Notes which shall be the equivalent of €1,000,000 in original principal amount of Subordinated Notes;

Class P Subordinated Component means, in respect of the Class P Combination Notes, a Component thereof, the terms and conditions applicable to which are the same as €4,400,000 in original principal of the Subordinated Notes.

Class P Subordinated Component means, in respect of the Class P Combination Notes, a component thereof, the terms and conditions applicable to which (save for those relating to issuance or transfer thereof) are the same as €4,000,000 principal amount of Subordinated Notes in respect of each

Examples of Class P Subordinated Component in a sentence

• For purposes of subordination, each Class of Combination Notes shall not be treated as a separate Class, but the Class P Subordinated Component and the Class Q Subordinated Component of, respectively, the Class P Combination Notes and the Class Q Combination Notes, will be treated as Notes of the Classes to which such Components relate.

• Each Class P Combination Note (for so long as they shall remain Outstanding) may, subject to the provisions herein and in the Trust Deed, be exchanged for (a) Class C Notes in a principal amount equal to the principal amount of such Class P Combination Note’s Class C Component and(b) Subordinated Notes in a principal amount equal to the principal amount of such Class P Combination Note’s Class P Subordinated Component.

More Definitions of Class P Subordinated Component

Class P Subordinated Component means, in respect of the Class P Combination Notes, the principal amount thereof comprised of Subordinated Notes, which principal amount as at the Closing Date is €2,000,000 and, thereafter, as may be adjusted from time to time in accordance with these Conditions following principal repayments on such Subordinated Notes.