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.

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

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

  • 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.

  • 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.

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

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