Conversion Trigger Event definition

Conversion Trigger Event means any point in time at which the CET1 Ratio is less than 7.00%.

Conversion Trigger Event means that, as of the Initial Maturity Date, this Note has not been repaid in full either (i) in cash or (ii) through an Exchange effected in accordance with Section 2(c) below.

Conversion Trigger Event means, with respect to the New Preferred Stock, any 30 day period during which the Market Value of the Common Stock (as determined based on the closing sale price of the Common Stock on the Tokyo Stock Exchange or if the common stock is not listed on the Tokyo Stock Exchange, such other securities exchange or automated quotation system on which the Common Stock is then listed or authorized for quotation) for each day in such period is equal to or greater than the Conversion Price.

Examples of Conversion Trigger Event in a sentence

• For the avoidance of doubt, the potential conversion of the Contingent Capital Notes into ordinary shares, other securities or other obligations in connection with the exercise of any U.K. bail-in power by the relevant U.K. authority is separate and distinct from the Automatic Conversion following a Conversion Trigger Event.

• The Conversion Trigger Event shall occur if at any time the CET1 Ratio is less than 7.00 per cent.

• For the avoidance of doubt, the potential conversion of the Contingent Capital Notes into ordinary shares, other securities or other obligations in connection with the exercise of any U.K. bail-in power by the relevant U.K. resolution authority is separate and distinct from the Automatic Conversion following a Conversion Trigger Event.

• Unless and until an Exchange occurs (or payment in full of all Obligations is made in cash), the Holder shall have all of its rights and remedies hereunder (including without limitation its right to convert this Note if the Conversion Trigger Event has occurred) through the Exchange Date (or the date on which payment in full is made).

• In such a situation, Securityholders could lose all or part of their investment.In addition, investors should be aware that, upon Conversion of the Securities following the Conversion Trigger Event, Securityholders will be, effectively, further subordinated as they will be treated as, and subsequently become, holders of Ordinary Shares, even if other existing subordinated indebtedness and preference shares remain outstanding.

More Definitions of Conversion Trigger Event

Conversion Trigger Event means, with respect to the Shares, any 30-day period during which the market value of the Common Stock (as determined based on the closing sale price of the Common Stock on the TSE or such other securities exchange or automated quotation system on which the Common Stock is then listed or authorized for quotation) for each day in such period is equal to or greater than the conversion price of the Shares.

Conversion Trigger Event means the occurrence of both (i) the consummation or termination of the Rights Offering, and (ii) the Holder and its assigns having purchased the Additional Stock, under the terms and provisions of the Securities Purchase Agreement.

Conversion Trigger Event. A Conversion Trigger Event shall occur at any point in time at which the fully loaded CET1 Ratio of the Regulatory Group is less than 7.00%. Any interest accrued in respect of an Interest Payment Date which falls on or after the date of the Conversion Trigger Event shall be deemed to have been cancelled upon the occurrence of such Conversion Trigger Event and shall not become due and payable. Conversion Price: $2.448, subject to certain anti-dilution adjustments. The Conversion Price is expected to be fixed at £1.754 on the date of pricing of the Contingent Capital Notes and translated into U.S. dollars at an applicable exchange rate on the same date.

Conversion Trigger Event has the meaning given that term in Section 10.1.

Conversion Trigger Event. A Conversion Trigger Event shall occur at any point in time at which the fully loaded CET1 Ratio of the Regulatory Group is less than 7.00%. Any interest accrued in respect of an Interest Payment Date which falls on or after the date of the Conversion Trigger Event shall be deemed to have been cancelled upon the occurrence of such Conversion Trigger Event and shall not become due and payable. Issuer’s ordinary share price: £1.1970 Conversion Price: $2.179, subject to certain anti-dilution adjustments. The Conversion Price is expected to be fixed at £1.754 on the date of pricing of the Contingent Capital Notes and translated into US dollars at an applicable exchange rate on the same date.

Conversion Trigger Event has the meaning set forth in ‎Section 2.15(c).

Conversion Trigger Event shall occur when: (i) the Business Day in Mexico following the publication of a determination by the CNBV, in its official publication of capitalization levels for Mexican banks, that the Bank’s Fundamental Capital Ratio, as calculated pursuant to the applicable Mexican Capitalization Requirements, is equal to or below 5.125%; (ii) if both (a) the CNBV notifies the Bank that it has made a determination, pursuant to Article 29 Bis of the Mexican Banking Law, that a cause for revocation of the Bank’s license has occurred resulting from (x) the Bank’s assets being insufficient to satisfy its liabilities, (y) the Bank’s non-compliance with corrective measures imposed by the CNBV pursuant to the Mexican Banking Law, or (z) the Bank’s non-compliance with the capitalization requirements set forth in the Mexican Capitalization Requirements and (b) the Bank has not cured such cause for revocation, by (x) complying with such corrective measures, or (y) (1) submitting a capital restoration plan to, and receiving approval of such plan by, the CNBV, (2) not being classified in Class III, IV or V, and (3) transferring at least 75% of its shares to an irrevocable trust, or (z) remedying any capital deficiency, in each case, on or before the third or seventh calendar day in Mexico, as applicable, following the date on which the CNBV notifies the Bank of such determination; (iii) if the Banking Stability Committee, which is a committee formed by the CNBV, the Ministry of Finance and Public Credit, Banco de México and the Instituto para la Protección al Ahorro Bancario of Mexico, determines pursuant to Article 29 Bis 6 of the Mexican Banking Law that, under Article 148, Section II, paragraphs (a) and (b) of the Mexican Banking Law, financial assistance is required by the Bank to avoid revocation of its license because the Bank’s assets are insufficient to satisfy the Bank’s liabilities, or the Bank’s failure to comply with corrective measures, to comply with capitalization requirements, or to satisfy certain liabilities when due, as a means to maintain the solvency of the Mexican financial system or to avoid risks affecting the Mexican payments system and such determination is either made public or notified to the Bank (for the avoidance of doubt, pursuant to Annex 1-R of the general rules applicable to Mexican banks, a Conversion Trigger Event shall occur if financial assistance or other loans shall be granted to the Bank pursuant to Article 148, Section II, paragraphs (a)...