Credit Position definition

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, 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 or "CP" means U.S.$ 20,000,000, 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.

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 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, 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 or "CP" means U.S.$ 20,000,000, 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 Security is repurchased and cancelled, the Credit Position will be reduced pro rata.

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 have 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 RON 60,000,000, 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 in the case that Securities are repurchased and cancelled, the Credit Position will be reduced. Each reference to the "Agency Agreement" in Annex A (Credit Annex) shall be construed as the "Programme Agency Agreement".

Credit Position means USD 20,000,000, 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. DISTRIBUTION60. If non-syndicated, name and address of Dealer: J.P. Morgan Securities (Asia Pacific) Limited of 25/F Chater House, 8 Connaught Road Central, Hong Kong as agent for and on behalf of J.P. Morgan Securities plc of 25 Bank Street, Canary Wharf, London E14 5JP 61. Stabilising Manager(s) (if any): Not Applicable 62. Total commission and concession: See paragraph 6 (Issue Price). 63. U.S. selling restrictions: Regulation SERISA Restrictions for all Securities (including Rule 144A Securities and Securities subject to Regulation S)JPMSP Standard Restrictions apply: The Securities may not be acquired by, on behalf of, or with the assets of any plans subject to ERISA or Section 4975 of the U.S. Internal Revenue Code of 1986, as amended, other than certain insurance company general accounts. See "Subscription and Sale – United States" and "Purchaser representations and requirements and transfer restrictions – ERISA Legends and ERISA Restrictions – (b) JPMSP Standard Restrictions" in the Offering Circular. 64. Additional Selling Restrictions: Not Applicable 65. Swiss Distribution: NoGENERAL66. The aggregate principal amount of Notes issued has been translated intoU.S. dollars at the rate of [] 1 = U.S.$ [], producing a sum of (for Notes not denominated in U.S. dollars): Not Applicable PURPOSE OF PRICING SUPPLEMENTThis Pricing Supplement comprises the pricing supplement required for the issue of the Securities described herein pursuant to the Structured Products Programme for the issuance of Notes, Warrants and Certificates of J.P. Morgan Structured Products B.V., JPMorgan Chase Bank N.A. and JPMorgan Chase & Co. GOVERNING LAW AND JURISDICTIONSecurities: English Law/Courts of EnglandGuarantee: English Law/Courts of EnglandPART B – OTHER INFORMATION LISTING AND ADMISSION TO TRADINGApplication has been made for the Security to be admitted to the Official List of the Irish Stock Exchange and to trading on its Global Exchange Market with effect from, at the earliest, the Issue Date. No assurances can be given that such application for listing and admission to trading will be granted (or, if granted, w...