Equivalent Credit Support definition

Equivalent Credit Support means, in relation to any Eligible Credit Support comprised in the Credit Support Balance, Eligible Credit Support of the same type, nominal value, description and amount as that Eligible Credit Support.
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Equivalent Credit Support means, arrangements of an equivalent nature entered into or, as applicable, issued or granted in respect of the New Agreement which governs the New Transaction(s) corresponding to the relevant Old Transaction(s) (without duplication), except for the changes that are necessary to reflect, or are a natural consequence of, the fact that the Transferee is to be substituted for the Transferor for all purposes, including any changes required to be made such that:
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Equivalent Credit Support means cash denominated in EUR.
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Examples of Equivalent Credit Support in a sentence

  • Each party agrees that all right, title and interest in and to any Eligible Credit Support, Equivalent Credit Support, Equivalent Distributions or Interest Amount which it transfers to the other party under the terms of this Annex shall vest in the recipient free and clear of any liens, claims, charges or encumbrances or any other interest of the transferring party or of any third person (other than a lien routinely imposed on all securities in a relevant clearance system).

  • When no amounts are payable by the Transferor with respect to any obligations under the Agreement (except for any potential liability under Section 2(d) of the Agreement), the Transferee will transfer to the Transferor Equivalent Credit Support having a Value as close as practicable to the Credit Support Balance with respect to the Transferor and the Interest Amount, if any.

  • For the purpose of Paragraph 4(a)(4)(i)(C) and Paragraph 4(a)(4)(ii), the Value of the outstanding Credit Support Balance or of any transfer of Eligible Credit Support or Equivalent Credit Support, as the case may be, will be calculated as follows:‌ Disputes over Value will be resolved by the Valuation Agent seeking three bid quotes as of the relevant Valuation Date or date of Transfer from parties that regularly act as dealers in the securities or other property in question.


More Definitions of Equivalent Credit Support

Equivalent Credit Support means, in respect of any Eligible Credit Support (which term shall include for the purposes of this definition, any assets held by Party A which would be Eligible Credit Support but for a failure to satisfy the Eligibility Criteria), Eligible Credit Support of the same type, nominal value, description and amount as such Eligible Credit Support or in the case of items of Eligible Credit Support which are Loan Assets, (i) obligations of the same borrower(s), obligors(s), issuer(s) and guarantor(s) (as applicable), (ii) commitments made as part of the same tranche or facility which have the same seniority pursuant to the applicable loan, intercreditor and ancillary documentation, (iii) obligations which are secured by the same security and guarantee package (if any) and (iv) of an identical type, original principal amount, description, obligation ranking, and (except where otherwise stated) amount as those loans, provided that where such Eligible Credit Support has been converted, subdivided or consolidated or has become the subject of a takeover or the holders of Eligible Credit Support have become entitled to receive or acquire other assets or other property or the Eligible Credit Support have become subject to any similar event, the term "Equivalent Credit Support" shall mean assets equivalent to (in accordance with foregoing criteria) the original Eligible Credit Support together with or replaced by a sum of money or assets or other property equivalent to (in accordance with the foregoing criteria) that is receivable by holders of such original Eligible Credit Support resulting from such event.”
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Equivalent Credit Support means, with respect to any credit support arrangement applicable to the Original Agreement, arrangements of an equivalent nature entered into or, as applicable, issued or granted in respect of the New Agreement.
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Related to Equivalent Credit Support

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

  • Substitute Credit Support has the meaning specified in Paragraph 4(d)(i).

  • Equivalent Load means the sum of a Market Participant’s net system requirements to serve its customer load in the PJM Region, if any, plus its net bilateral transactions.

  • Credit Support Instrument" "Credit Support Provider"

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

  • Credit Support Amount has the meaning specified in Paragraph 3.

  • Alternative Benchmark Rate means an alternative benchmark or screen rate which is customarily applied in international debt capital markets transactions for the purposes of determining floating rates of interest (or the relevant component part thereof) in the Specified Currency, provided that all determinations will be made by the Independent Adviser in its reasonable discretion.

  • Equivalent e-document means an electronic equivalent of a document, issued by the issuing authority of such document with its valid digital signature including documents issued to the digital locker account of the client as per rule 9 of the Information Technology (Preservation and Retention of Information by Intermediaries Providing Digital Locker Facilities) Rules, 2016.

  • credit supporter means a person or company that provides a guarantee or alternative credit support for any of the payments to be made by an issuer of securities as stipulated in the terms of the securities or in an agreement governing rights of, or granting rights to, holders of the securities;

  • Credit Support Balance means, with respect to a Transferor on a Valuation Date, the aggregate of all Eligible Credit Support that has been transferred to or received by the Transferee under this Annex, together with any Distributions and all proceeds of any such Eligible Credit Support or Distributions, as reduced pursuant to Paragraph 2(b), Paragraph 3(c)(ii) or Paragraph 6. Any Equivalent Distributions or Interest Amount (or portion of either) not transferred pursuant to Paragraph 5(c)(i) or (ii) will form part of the Credit Support Balance.

  • Interest Equivalent means a yield on a 360-day basis of a discount basis security which is equal to the yield on an equivalent interest-bearing security.

  • Dose equivalent (HT means the product of the absorbed dose in tissue, quality factor, and all other necessary modifying factors at the location of interest. The units of dose equivalent are the sievert (Sv) and rem.

  • Equivalent Security means any Security issued by the same entity as the issuer of a subject Security, including options, rights, stock appreciation rights, warrants, preferred stock, restricted stock, phantom stock, bonds, and other obligations of that company or Security otherwise convertible into that Security. Options on Securities are included even if, technically, they are issued by the Options Clearing Corporation or a similar entity.

  • Effective dose equivalent (HE means the sum of the products of the dose equivalent to each organ or tissue (HT) and the weighting factor (wT) applicable to each of the body organs or tissues that are irradiated (HE = Σ wTHT).

  • Credit Support Provider has the meaning specified in the Schedule.