Deeply Subordinated Notes definition

Deeply Subordinated Notes means either (i) ZIC Deeply Subordinated Notes or (ii) Guaranteed Deeply Subordinated Notes.

Deeply Subordinated Notes means any bonds or notes of the Issuer which constitute direct, unconditional, unsecured and lowest ranking subordinated obligations (titres subordonnés de dernier rang) of the Issuer and which rank and will rank pari passu among themselves and pari passu with all other present and future Deeply Subordinated Obligations, but junior to the titres participatifs issued by, and prêts participatifs granted to, the Issuer, and junior to the Ordinary Subordinated Obligations and Unsubordinated Obligations of the Issuer.

Deeply Subordinated Notes means Notes issued by ZIC under the Programme pursuant to the Terms and Conditions of the Subordinated Notes and Deeply Subordinated Notes, which rank as set out in Condition 3(b) of the Terms and Conditions of the Subordinated Notes and Deeply Subordinated Notes, as specified in the applicable Pricing Supplement.

Examples of Deeply Subordinated Notes in a sentence

• As set out below, the terms and conditions are presented in the form that would be endorsed, together with the relevant provisions of Part A of the Pricing Supplement, on (A) Bearer Notes in definitive form (if any) issued in exchange for Global Note(s) or (B) in the case of Registered Notes, Certificates, in each case, representing Subordinated Notes or, as the case may be, Deeply Subordinated Notes.

• As a result, payments of interest and settlement of Arrears of Interest may become mandatory on Subordinated Notes without also becoming mandatory on Deeply Subordinated Notes.

• Subordinated Notes ("Subordinated Notes") comprise Ordinary Subordinated Notes, Deeply Subordinated Notes, Dated Subordinated Notes and Undated Subordinated Notes (all as defined below).

• Accordingly, in certain circumstances and/or upon the occurrence of certain events, payments of interest under the Undated Deeply Subordinated Notes may be restricted and, in certain cases, forfeited and the amount of interest and the principal amount of the Undated Deeply Subordinated Notes may be reduced.

• Subordinated Notes (which term, for the avoidance of doubt, includes both Ordinary Subordinated Notes and Deeply Subordinated Notes) may have a specified maturity date ("Dated Subordinated Notes").

• In the event of incomplete payment of unsubordinated creditors, the obligations of the Issuer in connection with Ordinary Subordinated Notes shall be terminated (then subsequently the obligations of the Issuer vis-à-vis the lenders in relation to prêts participatifs and holders of Deeply Subordinated Notes).

• Subordinated Notes (which term, for the avoidance of doubt, includes both Ordinary Subordinated Notes and Deeply Subordinated Notes) may have no specified maturity date ("Undated Subordinated Notes").

• Accordingly, if BES fails to meet any obligations under the Undated Deeply Subordinated Notes, including the payment of any interest, investors will not have the right of acceleration of principal.

• In the event of a distribution of the assets in the dissolution or liquidation of BES the rights of payment of the holders of Undated Deeply Subordinated Notes shall rank in priority only to any payments to holders of BES’ shares.

• See Condition 2(a) of the Undated Deeply Subordinated Notes (“Status and subordination of the Undated Deeply Subordinated Notes”).

More Definitions of Deeply Subordinated Notes

Deeply Subordinated Notes means Notes issued by ZIC under the Programme pursuant to the Terms and Conditions of the Subordinated Notes and Deeply Subordinated Notes, which rank as set out in Condition 3(b) of the Terms and Conditions of the Subordinated Notes and Deeply Subordinated Notes, as specified in the applicable Pricing Supplement.The Notes may be issued on a continuous basis to one or more of the Dealers below and any additional Dealer appointed under the Programme from time to time, which appointments may be for a specific issue or on an ongoing basis (each a “

Deeply Subordinated Notes means all or any bonds or notes of the Issuer which constitute direct, unconditional, unsecured and lowest ranking subordinated obligations (titres subordonnés de dernier rang) of the Issuer, including bonds or notes issued pursuant to the provisions of Article L.228-97 of the French Code de commerce, as amended by law no. 2003- 706 on financial security dated 1August 2003 or other debt instruments issued by the Issuer treated as consolidated fonds propres de base for the Issuer and which rank and will rank pari passu among themselves and pari passu with all other present and future Deeply Subordinated Notes, behind any present and future titres participatifs issued by, and prêts participatifs granted to, the Issuer, any Ordinary Subordinated Obligations of the Issuer and any Unsubordinated Obligations of the Issuer, but in priority to any class of share capital or other equity securities issued by the Issuer.

Deeply Subordinated Notes has the meaning ascribed thereto in the relevant Conditions; “Euroclear” means Euroclear Bank SA/NV;

Deeply Subordinated Notes means a Note specified as such in the applicable Final Terms;

Deeply Subordinated Notes means any bonds, notes or other securities issued by the Issuer which constitute direct, unconditional, unsecured and lowest ranking subordinated obligations (titressubordonnés de dernier rang) of the Issuer issued pursuant to the provisions of Article L.228-97 of the French Code de commerce and which rank and will rank pari passu without any preference among themselves and pari passu with all other present or future Deeply Subordinated Obligations, but junior to any prêts participatifs granted to the Issuer, and junior to the Ordinary Subordinated Obligations and Unsubordinated Obligations of the Issuer.