Defaulted Reference Obligation definition

Defaulted Reference Obligation. ’ means a Reference Obligation in respect of which the Conditions to Settlement are satisfied.

Defaulted Reference Obligation means a Reference Obligation in respect of which the Conditions to Settlement Satisfaction Date has occurred and which is not a Cured Reference Obligation.

Defaulted Reference Obligation means a Reference Obligation in respect of which an Event Determination Date has occurred. For the avoidance of doubt, such Reference Obligation will cease to be a Defaulted Reference Obligation after the occurrence of the Valuation Date relating to such Event Determination Date.

Examples of Defaulted Reference Obligation in a sentence

• Moody’s Recovery Rate “Moody’s Recovery Rate” means, with respect to a Defaulted Reference Obligation, the relevant figure (expressed as a percentage) determined by the Calculation Agent in accordance with Moody’s methodology in effect from time to time using the table set out in Schedule 1 hereto.

• Defaulted Reference Obligation “Defaulted Reference Obligation” means eachReference Obligation in respect of which an Event Determination Date has occurred.

• Interim Price: With respect to any Defaulted Reference Obligation forwhich an Interim Price is being determined, the percentage obtained from the Full Quotation or Weighted Average Quotation or, if two Full Quotations or a Weighted Average Quotation were not obtained, the Assumed Quotation.

• The “Final Loss Determination Date” shall be the date on which the Final Loss Determination Amount has been determined in connection with either (i) the Servicer consummating the sale of the Defaulted Reference Obligation or determining that the Defaulted Reference Obligation shall be written-off (as reflected in the applicable Originator’s books and records), in each case in accordance with the Servicer’s established procedures or (ii) the formal work-out process having been terminated.

• Actual Recoveries: For each Defaulted Reference Obligation or LiquidatedReference Obligation, as the case may be, the recovered amount obtained in respect of principal upon a work-out or sale of such Reference Obligation.

More Definitions of Defaulted Reference Obligation

Defaulted Reference Obligation means a Reference Obligation with respect to which an Event Determination Date has occurred but which has not become a Liquidated Reference Obligation.

Defaulted Reference Obligation means a Reference Obligation in respect of which an Event Determination Date has occurred.

Defaulted Reference Obligation means a Reference Obligation in respect of which a Credit Event has occurred and a Credit Event Notice been delivered to the Trustee, but in respect of which no Verification Notice has yet been published by the Trustee.

Defaulted Reference Obligation means a Reference Obligation in respect of which the Conditions to Credit Protection have been satisfied.Credit Protection Amounts Any Initial Credit Protection Amount and any CreditProtection Adjustment Amount.Initial Credit Protection Amount An amount calculated by the Calculation Agent inrespect of a Defaulted Reference Obligation as follows:

Defaulted Reference Obligation means a Reference Obligation in respect of which the Conditions to Settlement have been satisfied and which is not a Cured Reference Obligation, provided that, in respect of CLE Method RO, such Reference Obligation will cease to be a Defaulted Reference Obligation (and will automatically remain a Reference Obligation) following the calculation of the Final Loss Amount and, in respect of a Credit Event that is a Verifiable Credit Event:

Defaulted Reference Obligation means, subject to Clause 5.1.3 (Restructured Reference Obligations), a Reference Obligation (which has not become a Liquidated Reference Obligation or, where such Credit Event is a Failure to Pay, it has not been Cured) in respect of which a Credit Event has occurred and been notified pursuant to Clause 4.1 (Credit Event Notice);

Defaulted Reference Obligation means a Reference Obligation in respect of which one of the following events has occurred, as determined by the Calculation Agent in good faith and in a commercially reasonable manner (each such event, a “Default Event”):