Credit Event Unwind Costs definition

Credit Event Unwind Costs means, in respect of any determination of a Cash Settlement Amount any legal or other ancillary costs (including any costs in relation to the payment of the Collateral Payment) incurred by the Issuer, the Custodian, the Trustee or the Swap Counterparty as a result of the payment of a Cash Settlement Amount, each as determined by the Swap Calculation Agent provided that such amounts shall not exceed USD 5,000.

Credit Event Unwind Costs means, in respect of any determination of a Cash Settlement Amount, an amount in USD equal to: (i) (as a positive amount) the net amount (if any) payable by the Issuer to the Swap Counterparty or (as a negative amount) by the Swap Counterparty to the Issuer, as the case may be, on the notional partial termination of the Asset Swap as a result of the determination of a Cash Settlement Amount and delivery of the corresponding Delivered Collateral under the Default Swap; (ii) any legal or other ancillary costs (including any costs in relation to the transfer of the Delivered Collateral) incurred by the Issuer, the Custodian, the Trustee or the Swap Counterparty as a result of the payment of a Cash Settlement Amount, each as determined by the Swap Calculation Agent; and (iii) any costs incurred by the Swap Counterparty in connection with the related termination, settlement or re-establishment of any hedge or related trading position.

Credit Event Unwind Costs means the aggregate of:

Examples of Credit Event Unwind Costs in a sentence

• Swap Counterparty Amount means, in respect of a Credit Event Redemption Event in circumstances where settlement under the Credit Default Swap takes place in accordance with Section 8.1 (Physical Settlement) of the Credit Derivatives Definitions, the sum of: (a) the Physical Settlement Amount payable by the Issuer to the Swap Counterparty pursuant to the Credit Default Swap; and (b) the Credit Event Unwind Costs.

• The Early Redemption Amount or, as applicable, the Early Redemption Entitlement will take into account the Unwind Costs or the Credit Event Unwind Costs (as applicable).

• Notwithstanding the provisions of paragraph 2.1(a) above, for the purposes of determining the amount payable under paragraph (a) in the definition of Credit Event Unwind Costs only, the Calculation Agent shall determine the amount (if any) that would be payable by either (i) Party B to Party A (expressed as a positive number) or (ii) by Party A to Party B (expressed as a negative number) on the termination of this Transaction in accordance with Section 6 of the Agreement.

• On a Business Day during the period from the Event Determination Date to the Valuation Date (both dates inclusive), as selected by the Swap Counterparty in its sole and absolute discretion, the Issuer shall deliver or procure the delivery of the Collateral to the Swap Counterparty whereupon the Asset Swap Agreement shall terminate and any termination payment payable by either party to the other shall form part of the Credit Event Unwind Costs.

• Any determination by the Swap Counterparty or, as the case may be, the Swap Calculation Agent that a Credit Event or an Event Determination Date has occurred or as to the amount of the Cash Settlement Amount, the Credit Event Unwind Costs, the Early Redemption Settlement Amount shall be conclusive and binding on the Issuer, the Trustee, the Noteholders, the Agent, the Paying Agents and all other persons and no liability shall attach to the Swap Counterparty or the Swap Calculation Agent in respect thereof.

More Definitions of Credit Event Unwind Costs

Credit Event Unwind Costs means, the sum of the following amounts:

Credit Event Unwind Costs means, in respect of any Cash Settlement Amount determined pursuant to the terms of the Default Swap (a "CDS Payment"): (i) the amount (if any) payable by the Issuer to the Swap Counterparty on the notional partial termination of the Asset Swap as a result of the payment of that CDS Payment; and (ii) any legal or other ancillary costs incurred by the Issuer, the Custodian, the Trustee or the Swap Counterparty as a result of the payment of that CDS Payment, each as determined by the Swap Calculation Agent in a commercially reasonable manner.

Credit Event Unwind Costs means the sum of (i) the amount of the Asset Swap Termination Payment (as defined in sub-paragraph 20(A) below) (if any) (expressed as a positive number if it is due from the Issuer to the Swap Counterparty or as a negative number if it is due from the Swap Counterparty to the Issuer) on the partial termination of the Asset Swap Agreement as at the relevant Cash Settlement Date and (ii) any Ancillary Costs.

Credit Event Unwind Costs means, in respect of any payment of a Cash Settlement Amount the sum of:

Credit Event Unwind Costs means, in respect of any payment of a Cash Settlement Amount, the sum of any legal or other ancillary costs (including any costs in relation to the delivery of the Bond Collateral) incurred by the Issuer, the Trustee or the Swap Counterparty as a result of the payment of that Cash Settlement Amount.

Credit Event Unwind Costs means an amount (which may be either a positive or negative number) as determined by the Swap Counterparty to be the sum of:

Credit Event Unwind Costs means the sum of(without duplication):