Default Requirement definition

Default Requirement means the amount specified as being applicable to the Reference Entity in the Standard, or its equivalent in the relevant Obligation Currency (or, if no such amount is specified, USD 10,000,000 or its equivalent in the relevant Obligation Currency) in either case, as of the occurrence of the relevant Credit Event.

Default Requirement means the amount specified as such in the applicable Final Terms or its equivalent in the relevant Obligation Currency or, if a Default Requirement is not specified in the applicable Final Terms, USD10,000,000, or its equivalent as calculated by the Calculation Agent in the relevant Obligation Currency, in either case, as of the occurrence of the relevant Credit Event.

Default Requirement means the amount as may be specified as such in the Issue Terms or its equivalent in the relevant Obligation Currency or, if a Default Requirement is not so specified in the Issue Terms, U.S.$10,000,000 or its equivalent in the relevant Obligation Currency, in either case as of the occurrence of the relevant Credit Event.

Examples of Default Requirement in a sentence

• Default Requirement: USD 10,000,000 or its equivalent in the relevant Obligation Currency as of the occurrence of the relevant Credit Event.

• Obligation Acceleration means one or more Obligations in an aggregate amount of not less than the Default Requirement have become due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations.

• For reasons unknown, and not having made it clear in the first instance, Linda Haywood has told Mark that it was not intended for the letter to be sent to the whole committee.

• Default Requirement: USD10,000,000 or its equivalent in the relevant Obligation Currency as of the occurrence of the relevant Credit Event.

• Any such notice of re-designation to the holders shall be given within five (5) Business Days of the election of the Company to so re-designate any such Subsidiary and shall contain a certification by a Responsible Officer of the Company certifying as to the No Default Requirement.

More Definitions of Default Requirement

Default Requirement means U.S.$ 10,000,000 or its equivalent in any currency or currencies;

Default Requirement means USD 10,000,000 or its equivalent in the relevant Obligation Currency as of the occurrence of the relevant Credit Event.

Default Requirement means USD 10,000,000 or its equivalent in the relevant Obligation Currency converted in US-Dollar as of the occurrence of the relevant Credit Event determined by reference to the relevant reference source used in foreign exchange swaps for the relevant exchange rate.

Default Requirement means the amount as may be specified as such in the Final Terms or, if a Transaction Type is specified, the amount specified as such in the Physical Settlement Matrix or its equivalent in the relevant Obligation Currency (or, if no such amount is specified, U.S.$ 10,000,000 or its equivalent in the relevant Obligation Currency), in either case, as of the occurrence of the relevant Credit Event.

Default Requirement means USD 10,000,000 or the amount specified as such in the Confirmation for the applicable Credit Derivative Transaction (or in each case its equivalent in the Obligation Currency as of the occurrence of the relevant Credit Event).

Default Requirement means an amount of USD 10,000,000 or its equivalent in the relevant currency in which the Obligation is denominated at the time of occurrence of the respective Credit Event.

Default Requirement means USD 10,000,000 or its equivalent in any other currency as determined by the Calculation Agent (as converted into USD at the relevant spot rate on the relevant day as determined by the Calculation Agent in a commercially reasonable manner).