Examples of Creditor Hierarchy Directive in a sentence
In addition, as per Article 108 of the BRRD (as amended by the Creditor Hierarchy Directive), debt instruments with variable interest derived from a broadly used reference rate and debt instruments not denominated in the domestic currency of the issuer, provided that principal, repayment and interest are denominated in the same currency, must not be considered to be debt instruments containing embedded derivatives solely because of those features.
Statutory subordination: in addition to referring to the applicable transposition of the Creditor Hierarchy Directive, a clear description of where the notes sit in the national hierarchy is conducive to additional clarity.
Marketing margins were also calculated to give a clear picture on how much the trader pays for the product at that specific stage in the process of marketing (Smith, 1992).
Table 2: ICT Expenditure in the Private Sector, by Industry, 1997-98 Wages of in- house ICT employeesOther ICT expensesTotal ICT expensesTotal per person employedTotal per PC user Source: ABS Business Use of Technology, 8129.0 6It should be noted that the expenditure in Table 2 does not include government administration and defence, education (both relatively large ICT spending sectors) nor agriculture, forestry and fishing.
The Creditor Hierarchy Directive, when transposed into national law, will introduce a new creditor hierarchy for unsecured debt instruments with the inclusion of a new MREL/TLAC eligible subordinated debt class within that hierarchy.
Nominees shall publicly address the membership only at times determined by the HOD Nominations Committee.
A description of instruments ranking junior and senior to a note under consideration constitutes good practice, particularly if the note is not statutorily subordinated as a result of Article 108 of the BRRD, as amended by the Creditor Hierarchy Directive.
Verifications must be valid at the time the tenant signs a Tenant Income Certification.
As the Creditor Hierarchy Directive was only adopted in December 2017 and was due for transposition by the end of 2018, most of the senior non- preferred instruments issued before the entry into force of the national measures implementing the directive were either subordinated purely as a result of contractual provisions (contractual subordination) that gave them that ranking, or by cross- reference to early national legislation (statutory subordination) that anticipated the directive.
The Senior Non-Preferred Notes and the relative Coupons rank within the class of unsecured debt instruments of the Issuer having the lower priority ranking contemplated by Article 108(2) of the BRRD, as set out in the Creditor Hierarchy Directive (for the avoidance of doubt, should there be any inconsistency between any statutory ranking in Norway in order to implement the provisions of Article 108(2) of the BRRD and the ranking as set out in Condition 2(b)(ii) above, such statutory ranking shall prevail).