Defaulted Credit definition

Defaulted Credit means, on any day, each Reference Entity in respect of which an Event Determination Date has occurred (save for where the Reference Entity is a Reference Entity in respect of which an Event Determination Date relating only to an M(M)R Restructuring has occurred, in which case that Reference Entity shall, in relation to the Remaining Credit Position, be treated as a non-Defaulted Credit).

Defaulted Credit means, on any day, each Reference Entity in respect of which the Conditions to Settlement have been satisfied (save for where the Reference Entity is a Reference Entity in respect of which either “Restructuring Maturity Limitation and Fully Transferable Obligation Applicable” or “Modified Restructuring Maturity Limitation and Conditionally Transferable Obligation Applicable” is specified in the relevant Standard and “Multiple Credit Event Notices” is also specified as applicable in such Standard and in respect of which an Event Determination Date relating only to a Restructuring has occurred, in which case that Reference Entity shall, in relation to the Remaining Credit Position, be treated as a non-Defaulted Credit).

Defaulted Credit means, on any day, each Reference Entity in respect of which a Credit Event Date has occurred or, in the case of a Reference Entity in respect of which “Multiple Credit Event Notices” is stated to be applicable in the relevant Standard and in respect of which a Restructuring Credit Event has occurred, and subject to the terms hereof, in respect of which the Calculation Agent has given a Valuation Date Designation Notice to (i) in respect of the Notes, the Company and (ii) in respect of the Swap Transaction, the Issuing Counterparty.

Examples of Defaulted Credit in a sentence

• During such suspension period, the Calculation Agent is not obliged to, nor is it entitled to, take any action in connection with the settlement of any Defaulted Credit.

• Such Reference Entity shall be treated as a separate Defaulted Credit in respect of each relevant Exercise Amount and all provisions related to the calculation of principal and interest payable under the Notes shall be construed accordingly.

• Id. at §§ 3.2.2-3.2.3. Bank of America also represents and warrants as a part of the Settlement that “since the filing of the Action, [Bank of America] has not sold Defaulted Credit Card Accounts to third-party Debt Buyers.” Id. at § 3.2.5. It further represents and warrants that if it does sell such debt within four (4) years, it will request that the Credit Reporting Agencies delete the Bank of America tradelines for such accounts.

• For any Payment Date, Excess Spread is the annual ratio resulting from dividing: o The Interest Available Resources of each period minus (i) the amount of Defaulted Credit Rights adjusted in relation to the proportion between the Deferred Purchase Price and the Outstanding Principal Balance of the Bonds, (ii) the standard and extraordinary expenses and taxes of the Fondo during the period and (iii) A and B Bond interest during such period.

• In accordance with the information provided in section 2.2.2 of the Additional Building Block, the largest Debtor has a total Outstanding Principal Balance Not Due of the Non Defaulted Credit Rights on 30 September 2009 of 525,186.90 Euros, 0.13% of the Eligible Portfolio.

More Definitions of Defaulted Credit

Defaulted Credit has the meaning specified in the definition of “Defaulting Lender”.

Defaulted Credit means, on any day, each Reference Entity in respect of which a Credit Event Date has occurred.

Defaulted Credit means, on any day, each Reference Entity with respect to which an Event Determination Date has occurred (save for where a Reference Entity is a Reference Entity with respect to which an Event Determination Date relating only to an M(M)R Restructuring has occurred, in which case that Reference Entity shall, with respect to the Remaining Credit Position, be treated as a non-Defaulted Credit).