Credit Loss Event definition

Credit Loss Event means, with respect to a Synthetic CDO Reference Swap, (i) the occurrence of an Event Determination Date (within the meaning of such Synthetic CDO Reference Swap) and (ii) a Cash Settlement Amount (within the meaning of such Synthetic CDO Reference Swap) is calculated as payable.Obligations: Reference Obligation only.
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Credit Loss Event means, with respect to any Transferred Financing Contract or any Funded Backlog, that one of the following events has occurred with respect to such Transferred Financing Contract or Funded Backlog: (i) such Transferred Financing Contract or Funded Backlog is 180 Days Delinquent; (ii) the Seller or PBCC and the Buyer have agreed in writing that a Credit Loss Event has occurred with respect to such Transferred Financing Contract or Funded Backlog; (iii) the Obligor thereunder or substantially all of such Obligor's Properties has become subject to a bankruptcy, insolvency, reorganization, moratorium or similar proceeding or (iv) the Obligor thereunder has ceased doing business.
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Credit Loss Event means, in respect of a Restructuring Credit Event, the value reduction or other similar debit (in either case, the amount of such value reduction of debit the "Debit") to the profit and loss account of any lender under the Reference Obligation holding an amount of the Reference Obligation equal to the Reference Obligation Notional Amount on the date of the relevant Restructuring, whether by reason of making a provision or otherwise in accordance with applicable accounting principles.
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Examples of Credit Loss Event in a sentence

  • To the extent the Debit and/or Credit Loss Event Amount Recovery is not denominated in U.S. Dollars, the Credit Loss Event Amount shall be calculated after converting the Debit and/or Credit Loss Event Amount Recovery into U.S. Dollars at the Relevant FX Rate as at the latest preceding Relevant FX Date that occurred prior to the relevant Event Determination Date with respect to the relevant Reference Obligation.

  • The sensitivity of the topic, the high risk of politicization, and the low levels of trust that appear to exist between victims and their governments all require that the political process is transparent and clearly understood by all stakeholders.

  • The Credit Loss Event Amount shall be calculated by reference to the Debit and the Credit Loss Event Amount Recovery so recorded by the Relevant Lender in respect of the Relevant Lender's Total Exposure in respect of that Reference Obligation immediately prior to each such Restructuring Credit Event (the "Total Credit Loss Event Amount") so that the Credit Loss Event Amount shall be in the same proportion to the Total Credit Loss Event Amount as the Defaulted Notional Amount bears to the Total Exposure.

  • For the avoidance of doubt, if the Credit Event specified in the related Credit Event Notice is either a Failure to Pay or Bankruptcy Credit Event, the term "Credit Loss Event Amount" is not applicable.

  • In respect of a CLE Method RO, upon the calculation of the Credit Loss Event Amount, the Reference Obligation shall remain in the Reference Portfolio and the Reference Obligation Notional Amount of such Reference Obligation shall be reduced to the Restructured Principal Amount and may then be subject to further adjustment in respect of any subsequent Reduction, Removal or Credit Event.

  • Figure 1: Model Overview where the Sovereign Credit Loss Event is captured by: where the EAD is the exposure to the bank to sovereign debt instruments at the point of default and LGD is the loss given default (the reciprocal of the recovery rate).

  • If the Conditions to Credit Protection are satisfied pursuant to paragraph (5) above under " Conditions to Credit Protection", an amount equal to the sum of the Reference Entity Credit Loss Event Amount(s) or the Reference Credit Support Provider Credit Loss Event Amount(s) determined with respect to the relevant Defaulted Reference Obligation, in each case subject to a minimum of zero and a maximum of the Reference Obligation Notional Amount of the relevant Defaulted Reference Obligation.

  • If the Conditions to Credit Protection are satisfied pursuant to(5) above, an amount equal to the sum of the Reference Entity Credit Loss Event Amount(s) or the Reference Credit Support Provider Credit Loss Event Amount(s) determined with respect to the relevant Defaulted Reference Obligation,in each case subject to a minimum of zero and a maximum of the Reference Obligation Notional Amount of the relevant Defaulted Reference Obligation.


More Definitions of Credit Loss Event

Credit Loss Event means, in respect of a Restructuring Credit Event, the value reduction or other similar debit directly attributable to the principal amount of the Reference Obligation (the amount of such value reduction or debit, the "Debit") to the profit and loss account of the Relevant Lender of the Reference Obligation (or, if the Relevant Lender is a Securitisation Issuer, to the profit and loss account of the Swap Counterparty) in respect of an amount of the Reference Obligation equal to the Reference Obligation Notional Amount on the date of the relevant Restructuring, whether by reason of making a provision or otherwise in accordance with applicable accounting principles. For the avoidance of doubt, losses in relation to the hedging of a Reference Obligation shall not constitute a Debit. Settlement Terms Calculation of Aggregate Seller PaymentsOn each 20 March, 20 June, 20 September and 20 December in each year from (and including) 20 June 2019 to (and including) the Termination Date (each such date being, for these purposes, a "Cash Settlement Date") the Issuer shall pay certain amounts to the Swap Counterparty in respect of the aggregate loss amounts in respect of the Defaulted Reference Obligations in the Reference Portfolio determined during the Calculation Period related to such Cash Settlement Date (such amount, the Aggregate Issuer Payment, as set out in more detail below). On each Note Business Day falling five (5) Note Business Days prior to a Cash Settlement Date (each, a "Calculation Date") the Swap Calculation Agent will calculate the "Aggregate Seller Payment", which will be equal to the sum of:
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Credit Loss Event means, with respect to any Program Financing, (i) the occurrence or the existence of one or more of the following: (x) an event that GE Capital and Navistar shall have agreed in writing to be a Credit Loss Event, (y) a Bankruptcy Event in respect of an Obligor or (z) a failure of an Obligor to pay or perform any obligation due under such Program Financing (without taking into account any payment pursuant to Section 16 or otherwise), and (ii) in respect of the occurrence or existence of any such event set forth in the preceding clause (i), all cure periods in respect of such event pursuant to such Program Financing have expired or GE Capital or its Affiliate has the right to exercise any available remedies in respect of such event in accordance with the applicable Program Financing.
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Credit Loss Event means, with respect to any Specified Financing Contract, the occurrence of one or more of the following events: (a) such Specified Financing Contract shall be reflected on the accounting system of Buyer or its Affiliate as being ninety (90) days delinquent, (b) Buyer and Shareholder shall have agreed in writing that a Credit Loss Event has occurred with respect to such Specified Financing Contract, (c) any Obligor under such Specified Financing Contract has liquidated, dissolved or ceased doing business, or (d) a bankruptcy or insolvency event shall have occurred with respect to any Obligor under such Specified Financing Contract.
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Credit Loss Event means, with respect to a Restructuring, a notional value adjustment or other similar notional debit to the profit and loss account of the Relevant Lender.
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Related to Credit Loss Event

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Loss Event means (A) an annual pre-tax loss at GS Inc. or (B) annual negative revenues in one or more reporting segments as disclosed in the Firm’s Form 10-K other than the Investing & Lending segment, or annual negative revenues in the Investing & Lending segment of $5 billion or more, provided in either case that you are employed in a business within such reporting segment.

  • Property Loss Event means any loss of or damage to property of Group or any Subsidiary thereof that results in the receipt by such Person of proceeds of insurance in excess of $2,000,000 or any taking of property of Group or any Subsidiary thereof that results in the receipt by such Person of a compensation payment in respect thereof in excess of $2,000,000.

  • First Loss Tranche means the dollar amount of liability that the Assuming Bank will incur prior to the commencement of loss sharing, which is the sum of (i) the Assuming Bank’s asset premium (discount) bid, as reflected on the Assuming Bank’s bid form, plus (ii) the Assuming Bank’s Deposit premium bid, as reflected on the Assuming Bank’s bid form, plus (iii) the Equity Adjustment. The First Loss Tranche may be a positive or negative number.

  • Net Investment Loss With respect to the Certificate Account, the Servicing Accounts or the REO Account or Companion Distribution Account for any period from any Distribution Date to the immediately succeeding P&I Advance Date, the amount by which the aggregate of all losses, if any, incurred during such period in connection with the investment of funds relating to the Trust Fund held in such account in accordance with Section 3.06, exceeds the aggregate of all interest and other income realized during such period on such funds.

  • Credit Event Net Loss With respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of (a) the sum of: (i) the related Credit Event UPB; (ii) the total amount of prior principal forgiveness modifications, if any, on the related Credit Event Reference Obligation; and (iii) delinquent accrued interest thereon, calculated at the related Current Accrual Rate from the related last paid interest date through the date Freddie Mac determines such Reference Obligation has been reported as a Credit Event Reference Obligation, over (b) the related Net Liquidation Proceeds.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Aggregate Loss Severity Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred on any Mortgage Loans from the Cut-off Date to the last day of the preceding calendar month and the denominator of which is the aggregate principal balance of such Mortgage Loans immediately prior to the liquidation of such Mortgage Loans.

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Net Loss Proceeds means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Event of Loss, including, without limitation, insurance proceeds, condemnation awards or damages awarded by any judgment, net of:

  • Revolving Facility Termination Date means the earlier of (i) August 9, 2018, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Loan Loss Reserves means funds held by the Seller to cover potential losses in connection with the mortgage loans owned in the Seller’s portfolio, including without limitation any amounts required to be maintained and held as a loan loss reserve in accordance with GAAP and any other regulatory requirement applicable to the Seller.

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Cumulative Loss Trigger Event If, with respect to any Distribution Date, the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%

  • Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

  • from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other noncash form), in each case net of:

  • Revolving Credit Commitment Termination Date means the earliest to occur of (i) other than with respect to Extended Revolving Credit Commitments, August 28, 2022, (ii) the date the Revolving Credit Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, (iii) the date of the termination of the Revolving Credit Commitments pursuant to Section 8.2, and (iv) solely with respect to any Extended Revolving Credit Commitments, the applicable Extended Maturity Date.

  • Extraordinary Loss Any Realized Loss or portion thereof caused by or resulting from:

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • Available Unused Commitment means, with respect to a Revolving Facility Lender under any Class of Revolving Facility Commitments at any time, an amount equal to the Dollar Equivalent of the amount by which (a) the applicable Revolving Facility Commitment of such Revolving Facility Lender at such time exceeds (b) the applicable Revolving Facility Credit Exposure of such Revolving Facility Lender at such time.

  • Book-Up Event means an event that triggers a positive adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).