Counterparty Default definition

Counterparty Default means a Swap Guarantor Ratings Downgrade or an Event of Default or Termination Event under the Agreement, in respect of which Buyer is the Defaulting Party or the sole Affected Party (as such terms are defined in the Agreement).
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Counterparty Default means the occurrence of one or more of the following in respect of either the Performance Counterparty under the Performance Charged Agreement or the Funding Swap Counterparty under the Funding Charged Agreement:
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Counterparty Default means the Swap Agreement is terminated in whole pursuant to a Counterparty Swap Agreement Default or a Swap Guarantor Ratings Downgrade.
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Examples of Counterparty Default in a sentence

  • This Agreement may be terminated before the expiration of the Term upon either a Manager Default or a Counterparty Default, as defined herein.

  • The Company is not authorized to perform dealing on own account or underwriting investment activities nor did not hold any positions during the year; therefore, Daily Trading Flow and Trading Counterparty Default and Clearing Margin Given are not applicable and calculated as nil.

  • Both gross and net of reinsurance results are derived, the gross being used to estimate the simplified risk mitigating effect of outwards reinsurance for Counterparty Default Risk.

  • Counterparty Default The Fund will, in certain circumstances, be fully subject to the default of a counterparty including its Prime Broker.

  • This risk sub-module relates to the concentration risk arising from assets considered in the equity, spread and property risk sub-modules, and excludes assets covered by the Counterparty Default Risk module (e.g. cash at bank) in order to avoid any overlap between both elements.

  • AIG Life limits the levels of exposure to any one individual reinsurer in line with both AIG Group limits and local AIG Life limits as stated in the AIG Life Counterparty Default Risk Policy.

  • The gross output is used as an input to the risk mitigating effect simplification used for Counterparty Default Risk.At the top of this sheet, select the drop down to indicate the method which has been adopted to allow for Non- proportional heath catastrophe risk as described in 3.11 above.

  • The CIF does not provide investment services that would trigger the Assets under Management K- Factor and has not made a derogation to utilize the Clearing Margin Given K-factor as opposed to quantifying the Net Position Risk and Trading Counterparty Default.

  • The risk-weighted assets for counterparty credit risk of derivatives of the Group were calculated in accordance with the Rules on Measuring Derivative Counterparty Default Risk Assets since 1 January 2019.

  • The gross of reinsurance calculation here is used to facilitate the calculation of Counterparty Default Risk.• Technical Provisions – A high level summary of the syndicate’s non-life and health related technical provisions split by Solvency II class of business should be provided (direct and proportional classes have been grouped).


More Definitions of Counterparty Default

Counterparty Default means an Event of Default (as defined in the Total Return Swap) where the Swap Counterparty is the Defaulting Party (as defined in the Total Return Swap).
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Counterparty Default as defined in paragraph 2 of Schedule 2.3(c).
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Related to Counterparty Default

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • PTC Event of Default Means any failure to pay within 10 Business Days of the due date thereof: (i) the outstanding Pool Balance on the Final Legal Distribution Date or (ii) interest due on the Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or Drawings (as defined in the Intercreditor Agreement), or a withdrawal or withdrawals pursuant to Section 3.6(f) of the Intercreditor Agreement, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee).

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any incurrence of Loans (including pursuant to a Mandatory Borrowing) or to fund its portion of any unreimbursed payment under Section 2.05(c) or (ii) a Bank having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its obligations under Section 1.01 or under Section 2.05(c).

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Specified Event of Default means any Event of Default under Section 8.01(a), Section 8.01(f) or Section 8.01(g).

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Issuer Event of Default means the occurrence of any of the following events:

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Forbearance Default means (A) the occurrence of any Default (as defined in the GE Loan Agreement) or any Event of Default (as defined in the TCFC Loan Agreement) other than the Specified Defaults, (B) the failure of any Borrower or any other Loan Party to comply timely with any term, condition, or covenant set forth in this Agreement, (C) the failure of any representation or warranty made by any Borrower or any other Loan Party under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other breach of any such representation or warranty in any material respect, (D) any occurrence, event or change in facts or circumstances occurring on or after the Effective Date that would have a Material Adverse Change (as defined in either Loan Agreement) on any Borrower or any other Loan Party or any of their respective financial conditions, businesses, prospects or assets, (E) (I) any breach by Travis or any other Loan Party of any provision of the Merxxx Xgreement or any other agreement, instrument or document executed in connection therewith, (II) any failure by Travis or TRMC to satisfy any condition precedent to txx xxxectiveness of the Merger Agreement or any other agreement, instrument or document executed in connection therewith, (III) any termination or purported termination by any party thereto of the Merger Agreement, or (IV) any other failure of the Merger Agreement to remain in full force and effect at any time, (F) any breach by Tracker of any of the provisions of that certain letter agreement dated on or about the date hereof between Tracker and Lender (the "Tracker Letter Agreement"), including, without limitation, any failure by Tracker to fund any working capital shortfall of Travis pursuant to Section 7 of the Tracker Letter Agreement, ox (X) any determination made by Lender in its sole discretion at any time that Lender, Travis and Tracker (or its affiliate, TMRC) have failed or arx xxxble to reach agreement on the terms for restructuring the credit facilities under the Loan Documents or on any other matters referenced in Section 6.03(g) of the Merger Agreement. Any Forbearance Default shall constitute an immediate Default under the GE Loan Agreement and an immediate Event of Default under the TCFC Loan Agreement.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

Most Referenced Clauses

Most Referenced Definitions