Examples of Event Payment in a sentence
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In respect of Basket Warrants, the greater the number of Reference Entities subject to a Credit Event, the lower the Credit Event Payment Amount will be.
Under the terms of the Warrants, where Société Générale acts as Calculation Agent, it may, for the purposes of determining the Credit Event Payment Amount under the Quotation Dealers Method or the Credit Linked Physical Delivery Amount following one or more Credit Event(s), select obligations with the lowest price of any obligations which meet the relevant criteria.
In such a case, the Issuer or Calculation Agent or Guarantor may have a conflict of interest by influencing any such pricing mechanism and therefore the Credit Event Payment Amount to be received by the Warrantholders.
In that latter case, the relevant Issuer shall, in lieu of delivering the Physical Delivery Amount, pay, in respect of each Warrant, the fair market value of the number of Underlying(s) (the Fair Market Value) or, in respect of Credit Linked Warrants, the Credit Event Payment Amount per Undeliverable Obligations as defined in the Additional Terms and Conditions for Credit Linked Warrants to be delivered converted into the Settlement Currency at the current exchange rate, if applicable.
Where Quotation Dealer is applicable, factors affecting the Quotations Dealers may have a negative impact on the quotations obtained from Quotation Dealers (which may be lower than the value of the relevant obligations) and may as a result adversely affect the Credit Event Payment Amount.
Under the Warrants, the Final Value is one of the factors in the determination of the Credit Event Payment Amount payable in respect of the Warrants on the relevant Settlement Date in addition to Unwind Costs.
In respect of Tranche Warrants, as soon as the aggregate of the Loss Amount and Unwind Costs for all Reference Entities subject to a Credit Event exceeds the Tranche Subordination Amount, the greater the number of Reference Entities subject to a Credit Event, the lower the Credit Event Payment Amount will be.
The Credit Event Payment Amount may be equal to zero if it is not possible to obtain quotations from Quotation Dealers for the selected obligations.
The Paying Agent will promptly return to the respective Holders thereof any Notes (x) with respect to which a Designated Event Purchase Notice has been withdrawn in compliance with this Indenture, or (y) held by it during the continuance of an Event of Default (other than a default in the payment of the Designated Event Payment with respect to such Notes) in which case, upon such return, the Designated Event Purchase Notice with respect thereto shall be deemed to have been withdrawn.