Financial Collateral Directive definition

Financial Collateral Directive means Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements, as amended from time to time;
Sample 1Sample 2Sample 3
Financial Collateral Directive means Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements.
Sample 1Sample 2
Financial Collateral Directive means Directive no. 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements (as amended);
Sample 1

Examples of Financial Collateral Directive in a sentence

  • The article defines “credit institution” in accordance with Union legislation governing credit institutions; “cash” in accordance with the Financial Collateral Directive; and “financial instrument” in accordance with MiFID II.

  • These provisions of Financial Collateral Directive represent a reception of the financial market practice embodied in the various standard master agreements drawn up by the international financial market associations.

  • The Article 3 (1) of the Financial Collateral Directive, which applies both to the title transfer finan- cial collateral arrangements and the security financial collateral arrangements, provides for an obligation of Member States to ‘not require that the creation, validity, perfection, enforceability or admissibility in evidence of a financial collateral arrangement or the provision of financial collateral under a financial collateral arrangement be dependent on the performance of any formal act’.

  • There may be instances where there is no requirement to serve a prior notice of the intention to enforce, unless this is agreed by the parties; see, e.g., Article 33(3)(a)(i) Geneva Securities Convention and Article 4(4)(a) EU Financial Collateral Directive.

  • The Financial Collateral Directive aims to create a clear uniform EU legal framework for the use of securities, cash and credit claims as collateral in financial transactions.

  • This reasoning is equally reflected in the Financial Collateral Directive which states in its Recital 9 that the only requirement which national law may impose in respect of financial collateral is that it is “delivered, transferred, held, registered or otherwise designated so as to be in the possession or under the control of the collateral taker”.Therefore, future European legislation should make available the entire catalogue of six methods.

  • A definition of a repurchase transaction is not provided in the Financial Collateral Directive.

  • To this end, the Article 6 (1) of the Financial Collateral Directive provides: ‘If an enforcement event occurs while any obligation of the collateral taker to transfer equivalent collateral under a title transfer financial collateral arrangement remains outstanding, the obligation may be the subje- ct of a close-out netting provision’.

  • The provisions of Financial Collateral Directive on the collateral taker’s ri- ght of use are not applied to title transfer financial collateral arrangements.

  • There may be instances, where there is no requirement to request approval by a court or other authority, unless this is agreed between the parties; see, e.g., Article 33(3)(a)(ii) Geneva Securities Convention and Article 4(4)(b) EU Financial Collateral Directive.


More Definitions of Financial Collateral Directive

Financial Collateral Directive means Directive 2002/47/EC on financial collateral agreements.
Sample 1

Related to Financial Collateral Directive

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Initial Collateral Amount means $757,097,792, which equals the sum of (i) the Class A Note Initial Principal Balance, (ii) the Class B Note Initial Principal Balance, (iii) the Class C Note Initial Principal Balance and (iv) the Initial Excess Collateral Amount.

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • Collateral and Guarantee Requirement means, at any time, the requirement that:

  • ABL Collateral Documents means all “Security Documents” as defined in the Original ABL Credit Agreement, and all other security agreements, mortgages, deeds of trust and other collateral documents executed and delivered in connection with any ABL Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed, in each case as the same may be amended, supplemented, waived or modified from time to time.

  • Collateral Disposition means (i) the sale, lease, transfer or other disposition of the Vessel by the Borrower to any Person (it being understood that a Permitted Chartering Arrangement is not a Collateral Disposition) or the sale of 100% of the Capital Stock of the Borrower or (ii) any Event of Loss of the Vessel.

  • Reallocated Collateral Principal Collections means, with respect to any Transfer Date, Collections of Principal Receivables applied in accordance with subsections 4.12(a) and (b) in an amount not to exceed the product of (a) the Collateral Allocation with respect to the Monthly Period relating to such Transfer Date and (b) the Investor Percentage with respect to the Monthly Period relating to such Transfer Date and (c) the amount of Collections of Principal Receivables with respect to the Monthly Period relating to such Transfer Date; provided, however, that such amount shall not exceed the Collateral Interest after giving effect to any Collateral Charge-Offs for such Transfer Date.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Required Cash Collateral Amount shall have the meaning provided in Section 3.7(c).

  • Supplemental Collateral Agent has the meaning assigned to that term in subsection 9.1B.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the Revolving L/C Exposure with respect to such Letter of Credit at such time and (ii) otherwise, an amount sufficient to provide credit support with respect to such Revolving L/C Exposure as determined by the Administrative Agent and the Issuing Banks in their sole discretion.

  • Cash Collateral Accounts shall have the meaning given such term in Section 9(a).

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Foreign Collateral Documents means each agreement that creates or purports to create a Lien in favor of the Administrative Agent for the benefit of the Secured Parties in any Foreign Collateral.