Eligible credit derivative definition

Eligible credit derivative means a single-name credit derivative or a standard, non-tranched index credit derivative provided that:
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Eligible credit derivative means a single-name credit de- rivative or a standard, nontranched index credit derivative provided that:
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Eligible credit derivative means a credit derivative in the form of a credit default swap (which includes, for example, an nth-to- default credit derivative or a contingent credit default swap) or total return swap provided that:”(Type 2 Comment) • Clause (i) of the definition of “eligible credit derivative” in the NPR states:
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More Definitions of Eligible credit derivative

Eligible credit derivative means a single-name credit derivative or a standard, non-tranched index credit derivative, subject to certain conditions. 12 C.F.R. § 32.2(m).
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Eligible credit derivative means a single-name or standard, nontranched index credit derivative, provided that: (1) it is an “eligible guarantee,” confirmed by the parties; (2) any assignment has been confirmed; (3) if a credit default swap, the contract includes the following credit events: (a) failure to pay any amount due under the terms of the reference exposure (subject to any applicable market- standard threshold and a grace period in line with that of the exposure); and (b) bankruptcy, insolvency, inability of the obligor on the reference exposure to pay its debts as they become due, and similar events; (4) the terms governing settlement are incorporated into the contract; (5) if cash settlement is allowed, the contract incorporates a robust valuation process and a reasonable period for valuing the reference exposure; (6) if the purchaser is required to transfer an exposure at settlement, at least one of the eligible exposures is transferable (on no more than reasonable consent); and (7) if a credit default swap, the contract clearly indicates: (a) who determines whether a credit event has occurred; (b) that such determination is not made solely by the protection provider; and (c) gives the purchaser the right to notify the provider of a credit event.
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Eligible credit derivative means any credit derivative transaction that fulfils the Substitution Criteria described in the Portfolio Substitution Terms and Investment Guidelines set out at Annex 3hereto.(c) Maximum Substitutions A maximum of 50 Substitutions shall be permitted in each calendar year (unless agreed otherwise by the Calculation Agent), provided that the following (each a "Ramp Up Substitution") shall not count towards such limit:
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Related to Eligible credit derivative

  • Eligible Credit Support means Eligible Collateral and Other Eligible Support.

  • Eligible Credit Card Receivables means at the time of any determination thereof, each Credit Card Receivable that satisfies the following criteria at the time of creation and continues to meet the same at the time of such determination: such Credit Card Receivable (i) has been earned by performance and represents the bona fide amounts due to a Borrower from a credit card payment processor and/or credit card issuer, and in each case originated in the ordinary course of business of such Borrower, and (ii) is not ineligible for inclusion in the calculation of the Borrowing Base pursuant to any of clauses (a) through (k) below. Without limiting the foregoing, to qualify as an Eligible Credit Card Receivable, an Account shall indicate no Person other than a Borrower as payee or remittance party. In determining the amount to be so included, the face amount of an Account shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges or other allowances (including any amount that a Borrower may be obligated to rebate to a customer, a credit card payment processor, or credit card issuer pursuant to the terms of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account but not yet applied by the Loan Parties to reduce the amount of such Credit Card Receivable. Any Credit Card Receivables meeting the foregoing criteria shall be deemed Eligible Credit Card Receivables but only as long as such Credit Card Receivable is not included within any of the following categories, in which case such Credit Card Receivable shall not constitute an Eligible Credit Card Receivable:

  • Available Credit means, at any time, (a) the then effective Revolving Credit Commitments minus (b) the aggregate Revolving Credit Outstandings at such time.

  • Revolving Multicurrency Credit Exposure means, with respect to any Lender at any time, the sum of such Xxxxxx’s Multicurrency LC Exposure, such Lender’s Swingline Exposure and the outstanding principal amount of such Xxxxxx’s Loans, at such time made or incurred under the Multicurrency Commitments.

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Foreign Currency Hedge means any foreign exchange transaction, including spot and forward foreign currency purchases and sales, listed or over-the-counter options on foreign currencies, non-deliverable forwards and options, foreign currency swap agreements, currency exchange rate price hedging arrangements, and any other similar transaction providing for the purchase of one currency in exchange for the sale of another currency.

  • Base Currency Amount means, in relation to a Loan, the amount specified in the Utilisation Request delivered by a Borrower for that Loan (or, if the amount requested is not denominated in the Base Currency, that amount converted into the Base Currency at the Agent’s Spot Rate of Exchange on the date which is three Business Days before the Utilisation Date or, if later, on the date the Agent receives the Utilisation Request) adjusted to reflect any repayment or prepayment of the Loan.

  • Applicable Creditor has the meaning assigned to such term in Section 9.14(b).

  • Hedging Agreement Provider means any Person that enters into a Hedging Agreement with a Credit Party or any of its Subsidiaries that is permitted hereunder to the extent such Person is a (a) Lender, (b) an Affiliate of a Lender or (c) any other Person that was a Lender (or an Affiliate of a Lender) at the time it entered into the Hedging Agreement but has ceased to be a Lender (or whose Affiliate has ceased to be a Lender) under the Credit Agreement.

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody’s (or with respect to investments in money market funds, a credit rating of “AAAm” or “AAAm-G” in the case of S&P and the highest rating given by Moody’s for money market funds in the case of Moody’s). For any short-term deposit or security, or a rating of A-l+ in the case of S&P or Prime-1 in the case of Moody’s.

  • Eligible Currency means each currency specified as such in Paragraph 11(a)(ii), if such currency is freely available.

  • Currency Hedge Obligations means, at any time as to any Person, the obligations of such Person at such time that were incurred in the ordinary course of business pursuant to any foreign currency exchange agreement, option or futures contract or other similar agreement or arrangement designed to protect against or manage such Person’s or any of its Subsidiaries’ exposure to fluctuations in foreign currency exchange rates.

  • Foreign Currency LC Exposure means, at any time, the sum of (a) the Dollar Amount of the aggregate undrawn and unexpired amount of all outstanding Foreign Currency Letters of Credit at such time plus (b) the aggregate principal Dollar Amount of all LC Disbursements in respect of Foreign Currency Letters of Credit that have not yet been reimbursed at such time.

  • Hedging Disruption means that the Issuer is unable, after using commercially reasonable efforts, to (A) acquire, establish, re-establish, substitute, maintain, unwind or dispose of any transaction(s) or asset(s) it deems necessary to hedge the risk of issuing and performing its obligations with respect to the Securities, or (B) realise, recover or remit the proceeds of any such transaction(s) or asset(s).

  • Multicurrency LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Multicurrency Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Multicurrency LC Exposure of any Lender at any time shall be its Applicable Multicurrency Percentage of the total Multicurrency LC Exposure at such time.

  • Acceptable Credit Rating means a minimum long term credit rating of either BBB from Standard & Poors or Baa2 from Xxxxx’x; Access Undertaking means:

  • Hedging Counterparty means HSBC Bank plc or any Affiliate of HSBC Bank plc or any other party

  • Multicurrency Lender means the Persons listed on Schedule 1.01(b) as having Multicurrency Commitments and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption that provides for it to assume a Multicurrency Commitment or to acquire Revolving Multicurrency Credit Exposure, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

  • Swap Exposure means, as at any relevant date, the amount certified by the Swap Bank to the Agent to be the aggregate net amount in Dollars which would be payable by the Borrower to the Swap Bank under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrower and the Swap Bank;

  • Revolving Dollar Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Loans at such time made or incurred under the Dollar Commitments.

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Eligible Counterparty means an “Eligible Counterparty” for the purposes of the Law.

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinate Certificates, the corresponding percentage described below, as of the Closing Date: Class M-1 ______% Class B-1 ______% Class B-2 ______%]

  • Swap Bank means any Lender or an Affiliate of a Lender in its capacity as a party to a Swap Contract entered into after the date of this Agreement.

  • Alternate Credit Facility means any irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the registered owners of the Bonds be the same (except for the term set forth in such Alternate Credit Facility) as those of the Letter of Credit.

  • Bank Product Amount shall have the meaning set forth in the definition of Bank Product.