Defaulted Security definition
Examples of Defaulted Security in a sentence
Notwithstanding such thirty (30) Day period, the Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security.
The Customer's Credit Limit shall be immediately reduced, without requirement for notice by SL, in an amount equal to the Defaulted Security.
For purposes of the Par Value Ratio, any Collateral Debt Security that has sustained an implied reduction of Principal Balance due to an appraisal reduction will not be considered a Defaulted Security solely due to such implied reduction.
In addition, the Issuer (or the Collateral Manager on behalf of the Issuer) shall promptly notify each Rating Agency when a Collateral Debt Security becomes a Defaulted Security.
If the Collateral Advisor does not elect within such five (5) Business Days to direct the Issuer to sell or otherwise dispose of any Defaulted Security, Written Down Security or Withholding Tax Security, such Collateral Debt Security shall not be sold or otherwise disposed of and shall remain part of the Collateral.