Default Market Value definition

Default Market Value the meaning specified in paragraph 10;

Default Market Value means, with regard to any assets on any date:

Default Market Value of such Equivalent Securities means: (A) if during the Default Valuation Period (as defined below) we have sold Securities forming part of the same issue and being of an identical type and description to those Securities and in substantially the same amount as those Securities, the net proceeds of sale (after deducting all reasonable costs, fees and expenses incurred in connection therewith); and (B) failing such sale during the Default Valuation Period, the market value of such Securities at the Default Valuation Time as determined by us in good faith;

Examples of Default Market Value in a sentence

• None of the Collateral Agent, the Collateral Administrator or the Securities Intermediary shall be deemed to have knowledge of any Default, Event of Default, Market Value Event or failure of the Borrowing Base Test unless and until a Responsible Officer has received written notice thereof from the Company, a Lender or the Administrative Agent.

• None of the Collateral Agent, the Collateral Administrator or the Intermediary shall be deemed to have knowledge of any Default, Event of Default, Market Value Event or failure of the Borrowing Base Test unless and until a Responsible Officer has received written notice thereof from the Company, a Lender or the Administrative Agent.

• None of the Collateral Agent, the Collateral Administrator or the Securities Intermediary shall be deemed to have knowledge of any Default, Event of Default, Market Value Event, failure of the Borrowing Base Test or failure of the Minimum Equity Test unless and until a Responsible Officer has received written notice thereof from the Company, a Financing Provider or the Administrative Agent.

• None of the Collateral Agent, the Collateral Administrator or the Securities Intermediary shall be deemed to have knowledge of any Default, Event of Default, Market Value Event or satisfaction or failure of the Borrowing Base Test unless and until a Responsible Officer has received written notice thereof from the Company, a Lender or the Administrative Agent.

• None of the Collateral Agent, the Collateral Administrator or the Securities Intermediary shall be deemed to have knowledge of any Default, Event of Default, Market Value Event or failure of the Borrowing Base Test unless and until a Responsible Officer has received written notice thereof from the Company, a Financing Provider or the Administrative Agent.

More Definitions of Default Market Value

Default Market Value of such Equivalent Securities means:

Default Market Value with respect to any Securities on any date: (i) in the case of Securities to be delivered to the Defaulting Party,

Default Market Value means the market value of the Equivalent Securities and any Equivalent Margin Securities sold by the Bank at the best price obtained at the time of default.

Default Market Value with respect to any Securities on any date: (i) in the case of Securities to be delivered to the Defaulting Party; (aa) if the non-Defaulting Party has between the occurrence of the relevant Event of Default and the Default Valuation Time (as defined below) sold Securities forming part of the same issue and being of an identical type and description to those Securities and in substantially the same amount as those Securities, the net proceeds of sale (after deducting all reasonable costs, fees and expenses incurred in connection therewith); and (bb) failing such sale before the Default Valuation Time, the Market Value of such Securities at the Default Valuation Time; (ii) in the case of Securities to be delivered by the Defaulting Party;

Default Market Value in relation to Securities on any date (where Seller is the Defaulting Party) the Market value of such Securities on such date; and (where Buyer is the Defaulting Party) the amount it would cost to buy such Securities at the best available offer price therefore (and where different offer prices are available for different delivery dates, such offer price in respect of the earliest available such delivery date) on the most appropriate market on such date together with all broker's fees and commissions, transfer taxes and all other costs, fees and expenses that would be incurred in connection therewith (calculated on the assumption that the aggregate thereof is the least that could reasonably be expected to be paid in order to carry out the Transaction), all as determined by Seller; and for these purposes any sum in a currency other than the Contractual Currency For the Transaction in question shall be converted into such Contractual Currency at the Spot Rate; (k) "EQUIVALENT SECURITIES", with respect to a Transaction, securities of the same issuer, forming part of the same issue and being of an identical type, nominal value, description and (except where otherwise stated) amount to the Purchased Securities under that Transaction. If and to the extent that such Purchased Securities have been redeemed the expression shall mean a sum of money equivalent to the proceeds of the redemption; (l) "EUROCLEAR", Xxxxxx Guaranty Trust Company of New York, Brussels Branch, as operator of the Euroclear System; (m) "EVENT OF DEFAULT", the meaning specified in paragraph 10 hereof; (n) "INCOME", with respect to any Security at any time, all interest, dividends or other distributions thereon; (o) "LIB0R" in relation to any sum in any currency, the three-month London Inter Bank Offered Rate in respect of that currency as quoted on Page 3750 on the Telerate Service (or such other page as may replace Page 3750 on that service or such other service as may be nominated for the time being by the British Bankers' Association as the information vendor for the purpose of displaying British Bankers' Association Interest Settlement Rates) as of 11.00 a.m., London time, on the date on which it is to be determined; (p) "MARGIN DEFICIT", the meaning specified in paragraph 4(a) hereof; (q) "MARGIN EXCESS", the meaning specified in paragraph 4(b) hereof; (r) "MARKET VALUE", with respect to any Securities as of any time on any date, the price for such Securities at such time on such date obta...

Default Market Value means at any time, in relation to any Exchanged Collateral or Exchanged Securities, the amount which, in the reasonable opinion of the non-Defaulting Party, represents their fair market value, having regard to such pricing sources and methods (which may include, without limitation, available prices for securities with similar maturities, terms and credit characteristics as the relevant Exchanged Collateral or Exchanged Securities) as the non-Defaulting Party considers appropriate.9.3

Default Market Value with respect to any Securities on any date: , the meaning specified in paragraph 10;