Examples of DBNY in a sentence
Notwithstanding the foregoing, no such increase shall be permitted without the prior written consent of DBNY if, after giving effect to any such increase, DBNY’s Commitment will no longer be at least 51% of the Facility Amount.
If DBNY redeems the subordinated note receivable, the Trust must redeem the Trust Preferred Securities under the redemption terms as stated in the Agreement.
All interest earned on the note is passed through to the holders of the Trust Preferred Securities in the form of interest payments.The subordinated note receivable shall not be redeemable by DBNY prior to the maturity date except upon the occurrence of a Tax Event, a Regulatory Event or Investment Company Event (as defined in the Agreement).
Pursuant to ASC 480, Distinguishing Liabilities from Equity, the Trust Preferred Securities have been classified as liabilities and are described as “Preferred Securities Subject to Mandatory Redemption.”Interest income represents the payments received or receivable from the subordinated note receivable from Deutsche Bank AG New York Branch (DBNY) and interest expense represents payments paid or payable from the issuance of preferred securities subject to mandatory redemption.
The Non-Controlling Note Holder Representatives, as of the date of this Agreement and until the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) is notified otherwise, shall be the Initial JPM Note Holder, the Initial BANA Note Holder, the Initial Barclays Note Holder, the Initial DBNY Note Holder and the Starwood Note Holder.