Examples of Deliverable Obligation Characteristics in a sentence
Valuation Obligation Characteristics: The Deliverable Obligation Characteristics under the Standard Terms.
If “Cash Redemption” applies with respect to the Credit Linked Notes (which will be the case when Auction Redemption is not possible), the Calculation Agent will value the Reference Obligation or any other obligation of the Reference Entity fulfilling certain criteria including the Deliverable Obligation Category and Deliverable Obligation Characteristics by asking for Quotations from Quotation Dealers.
If Cash Redemption applies with respect to the Credit Linked Notes (which will be the case when Auction Redemption is not possible), the Calculation Agent will value the Reference Obligation or any other obligation of the Reference Entity fulfilling certain criteria including the Deliverable Obligation Category and Deliverable Obligation Characteristics by asking for Quotations from Quotation Dealers.
For purposes of Section 2.15, the term "Deliverable Obligation" may be defined as each direct obligation of each Reference Entity that (i) is described by the Deliverable Obligation Category specified in the related Confirmation; (ii) has each of the Deliverable Obligation Characteristics, if any, specified in the related Confirmation and (iii) satisfies the other requirements set out at Section 2.15, in each case, as of the Delivery Date.
Deliverable Obligation Characteristics: Not Subordinated, Specified Currency, Not Contingent, Assignable Loan, Consent Required Loan, Transferable,Maximum Maturity: 30 years, Not Bearer.