Examples of Cross-Defaults in a sentence
Cross-Defaults on Qualified Financial Contracts with Affiliated EntitiesAn initial and significant problem in resolving financial conglomerates under the Bankruptcy Code is the possibility that counterparts on de- rivatives contracts and other qualified financial contracts (QFCs) will exercise existing contrac- tual rights to close out their transactions with affiliated entities, precipitating a run on the corporate group and dissipating going-concern value that the SPOE approach is designed to preserve.
Taking a More Muscular Approach to Cross-Defaults on QFCs We now turn to technical challenges in resolv- ing financial conglomerates through bank- ruptcy proceedings, starting first with the problem of cross-defaults on QFCs with holding-company affiliates.
Guarantees that are Subject to Cross-Defaults The proposed rule would prohibit covered BHCs from issuing any parent guarantee of subsidiary liabilities to third parties if they contain a cross-default based on the covered BHC’s insolvency or entry into resolution.
Guarantees that are Subject to Cross-Defaults As discussed in further detail in Section VII.A, it would be extremely difficult, and in some cases, impossible, for a covered BHC’s subsidiaries to conform the impermissible cross- defaults for legacy guarantees of subsidiary liabilities, especially long-term debt securities.
See “Description of the Notes — Additional Amounts.” For a description of certain United States tax aspects of the Notes, see “Taxation — United States Federal Income Tax Considerations.” Cross-Defaults .
Cross-Defaults of Multiple Qualified Projects during Affordability Period An Eligible Borrower owning two or more Qualified Projects will be required to cross-default all Qualified Projects only during the Affordability Periods for each of the multiple Qualified Projects.
The Enforceability of Cross-Defaults The power to enforce contracts of subsidiaries and affiliates of the covered financial company under section 210(c)(16) of Dodd-Frank may be critical to the FDIC’s ability to address effectively the failure of large families of financial companies.
Cross-Defaults: Shall not contain any cross-default provisions or cross-acceleration provisions any more onerous to Fleetwood than the terms of the Credit Agreement and, in any event, such provisions shall be reasonably acceptable to the Agent.
Other than the Cross-Defaults, no Default or Event of Default exists under any of the Loan Documents on the date hereof and, on the Amendment Effective Date, no Default or Event of Default will exist or is reasonably expected to occur under any of the Loan Documents.
See “Description of the Bonds – Additional Amounts.” For a description of certain Sri Lankan tax aspects of the Bonds, see “Taxation – Sri Lankan Taxation.” For a description of certain United States tax aspects of the Bonds, see “Taxation – United States Federal Income Taxation.” Cross-Defaults .