Credit Position definition

Credit Position means, as applicable: (i) subject to the other provisions hereof, in respect of each Reference Entity the amount specified as the Credit Position for that Reference Entity in the Swap Agreement or, as the case may be, the Final Terms, provided that if further Notes are issued which form a single Series with the Notes, the Credit Position in respect of each Reference Entity will be increased pro rata to the aggregate principal amount of such further Notes and if Notes are repurchased and cancelled, the Credit Position in respect of each Reference Entity will be reduced pro rata to the aggregate principal amount of such repurchased and cancelled Notes; or (ii) subject to the other provisions hereof, in respect of each Reference Entity in a Reference Portfolio, the percentage determined as the Credit Position for that Reference Entity in accordance with the Swap Agreement (and which in the case of each of the initial Reference Entities is set out in the Swap Agreement).

Credit Position means, subject to the other provisions hereof, in respect of each Reference Entity, the principal amount outstanding of the Securities, provided that if further Securities are issued which form a single Series with the Securities, the Credit Position in respect of each Reference Entity will be increased pro rata to the aggregate principal amount of such further Securities and if Securities are repurchased and cancelled, the Credit Position in respect of each Reference Entity will be reduced pro rata.

Credit Position means USD 10,000,000, provided that if further Securities are issued which form a single Series with the Security, the Credit Position in respect of the Reference Entity will be increased pro rata to the aggregate principal amount of such further Securities and in the case that the Securities are repurchased and cancelled, the Credit Position will be reduced pro rata; and (iii) The definition of "Cut-off Date" in the Credit Annex shall be deleted and replaced as follows:

Examples of Credit Position in a sentence

• If the Credit Event described in the Credit Event Notice that gave rise to the Event Determination Date is Bankruptcy or Failure to pay or Restructuring and the Exercise Amount specified in the Credit Event Notice is less than the Credit Position of the Reference Entity, the Swap Transaction shall terminate and no further payment will be due by either party to the Swap Agreement.

• If the Credit Event described in the Credit Event Notice that gave rise to the Event Determination Date is a Restructuring and the Exercise Amount specified in such Credit Event Notice is less than the Credit Position of the Reference Entity, the Swap Transaction shall terminate and a Termination Payment shall be payable (i) by the Company to the Counterparty or (ii) by the Counterparty to the Company.

• Multiple Exercise: Subject to Terms Relating To Successor: (1) The Conditions to Settlement may be satisfied any number of times during the Notice Delivery Period but once only with respect to any Reference Entity; and (2) Immediately following an Event Determination Date with respect to any Reference Entity, the Credit Position of that Reference Entity shall be reduced to 0%.

• Where no such Exercise Amount is specified, it shall be deemed that the entire Credit Position (or, as the case may be, Remaining Credit Position (as defined below)) has been specified.

• A particular Security, Commodity Position or Credit Position that the Company invests in may fall in value for a number of reasons, including a change in a business’s internal operations or management, a change in the business environment or a change in the commodities market.

More Definitions of Credit Position

Credit Position or "CP" means U.S.$ 200,000,000, provided that if further Securities are issued which form a single Series with the Security, the Credit Position in respect of the Reference Entity will be increased pro rata to the aggregate principal amount of such further Securities, and in the case that the Securities are repurchased and cancelled, the Credit Position will be reduced pro rata.

Credit Position means, in respect of each Reference Entity in a Reference Portfolio, the percentage determined for the relevant Reference Entity in accordance with the Swap Agreement (and which in the case of each of the Reference Entities comprising the initial Reference Portfolios is as set out in the Master Swap Confirmation Annex).

Credit Position means an amount equal to the aggregate of the Reference Notional Amounts for the affected Reference Entity under the Credit Default Swap Agreement. Notwithstanding the foregoing:

Credit Position means the positive net clearing position.

Credit Position means an amount equal to the product of the aggregate, for each Credit Default Swap Agreement entered into in connection with a Class of Notes which has not been redeemed or purchased in full at the time the Quotation Amount is being determined, of the Reference Entity Weighting of the affected Reference Entity under the relevant Credit Default Swap Agreement and the Reference Portfolio Notional Amount relating thereto. Notwithstanding the foregoing:

Credit Position means the amount of credit extended to a counterparty by the HCB, including any collateral value in the collateral pool that is reserved for a specific purpose;

Credit Position means on any day an amount in EUR equal to 42 per cent. of the aggregate principal amount