Examples of Equal Ranking Instruments in a sentence
The claim for this amount ranks ahead of Ordinary Shares, equally with the ANZ Capital Securities and any other Equal Ranking Instruments, but behind all senior ranking securities and instruments and all depositors and other creditors.
Senior Creditors means, in respect of BNZ, creditors (including depositors) of BNZ to whom BNZ is indebted in respect of all deposits and other liabilities, securities, instruments and other obligations of BNZ other than Equal Ranking Instruments or Junior Ranking Instruments, present and future.
Equal Ranking Instruments means all securities, instruments and other obligations that qualify as Tier 2 Capital (as defined in Condition 7.2) or are expressed to rank equally with such securities, instruments or other obligations in a Liquidation of BNZ, present and future, and includes the NZ$500 million subordinated notes issued by BNZ under a deed poll dated 30 April 2018.
In a winding-up of ANZ, Notes rank ahead of Ordinary Shares, equally among themselves, equally with Equal Ranking Instruments (including ANZ Capital Securities) and behind all Senior Creditors of ANZ, including depositors, as shown in Table 2.
Position in subordination hierarchy in liquidation a) ahead of common equity; b) equally without any preference among themselves for each series and with the holders of Equal Ranking Instruments; and c) behind the claims of subordinated Tier 2 instruments and Senior Creditors of Members Equity Bank.
The Capital Note Holders’ claim for payment of the Redemption Price ranks ahead of the claims of Shareholders, equally with, and shall be paid in proportion to, the claims of holders of Equal Ranking Instruments, but behind all Senior Ranking Creditors.If, following a Non-Viability Trigger Event, Capital Notes are Converted into Ordinary Shares, Capital Note Holders will have claims as Ordinary Shareholders.
In a winding-up of IAG, Capital Notes rank ahead of Ordinary Shares, equally among themselves, equally with Equal Ranking Instruments (including the CPS and, if issued, RES Preference Shares) and behind all Senior Ranking Creditors, as shown in the table below.The ranking of Capital Note Holders in a winding-up will be adversely affected if a Non-Viability Trigger Event occurs.
Ranking in a winding up of NABIn a winding up of NAB, NAB Capital Notes 5 rank ahead of Ordinary Shares, equally amongst themselves and with all Equal Ranking Instruments, but behind the claims of all Senior Creditors (including depositors and holders of Tier 2 Capital Instruments).On a winding up of NAB, there is a risk that Holders may lose some or all of the money they have invested in NAB Capital Notes 5.
If, upon a return of capital on a liquidation of ANZ, there are insufficient funds to pay in full the Face Value and the amounts payable in respect of any Equal Ranking Instruments, Holders and the holders of any such other instruments will share in any distribution of assets of ANZ in proportion to the amounts to which they are entitled respectively.
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