Financial Undertakings Act definition

Financial Undertakings Act means Act No. 161/2002 on Financial Undertakings of Iceland (as amended).
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Financial Undertakings Act means the Financial Institutions Act of 10 April 2015, No. 17, as amended or replaced.
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Financial Undertakings Act means the Norwegian Act on Financial Undertakings and Financial Groups of 10 April 2015 no. 17 (as amended).
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Examples of Financial Undertakings Act in a sentence

  • The Covered Bonds are unsubordinated obligations issued in accordance with Act No. 17 of 10 April 2015 on Financial Undertakings and Financial Groups, Chapter 11, Sub-chapter II (the "Financial Undertakings Act") and appurtenant regulations and rank pari passu among themselves and with all other obligations of the Issuer that have been provided the same priority as debt instruments issued pursuant to the Financial Undertakings Act.

  • For so long as the Covered Bonds are outstanding, the value (as calculated in accordance with the Financial Undertakings Act and appurtenant regulations) of the Cover Pool entered into the Register with respect to the Covered Bonds shall at all times be a minimum of 102 per cent.

  • The calculation shall establish the present value of the relevant claim, as duly discounted in accordance with the terms of the Financial Undertakings Act and the Financial Undertakings Regulations.

  • In accordance with the Financial Undertakings Act, the Bonds, together with any other assets as set out in Clause 3.2 (Status) which are registered in the Cover Pool Register at any time, shall in the event of bankruptcy, negotiation of debt under the Bankruptcy Act, winding up of the Issuer or public administration of the Issuer, have an exclusive, equal and proportional preferential claim over the Cover Pool.

  • To the extent that claims in relation to the Covered Bonds, the VPS Covered Bonds and relating derivativecontracts are not met out of the assets of the Issuer that are covered in accordance with the Financial Undertakings Act, the residual claims will rank pari passu with the unsecured and unsubordinated obligations of the Issuer.

  • For so long as the VPS Covered Bonds are outstanding, the value (as calculated in accordance with the Financial Undertakings Act and appurtenant regulations) of the Cover Pool entered into the Register with respect to the VPS Covered Bonds and any Covered Bonds which are not VPS Covered Bonds shall at all times be a minimum of 102 per cent.

  • Under sections 21-5 and 21-6 of the Financial Undertakings Act, if the Issuer's most recent audited accounts reveal that its net assets are equal to or less than 25 per cent.

  • To the extent that claims in relation to the VPS Covered Bonds, other Covered Bonds and relating derivative contracts are not met out of the assets of the Issuer that are covered in accordance with the Financial Undertakings Act, the residual claims will rank pari passu with the unsecured and unsubordinated obligations of the Issuer.

  • In exceptional circumstances it is authorised to enter into a severance agreement with the Chief Executive Officer in accordance with the provisions of the Financial Undertakings Act.

  • For so long as the Covered Bonds are outstanding, the value (as calculated in accordance with the Financial Undertakings Act and appurtenant regulations) of the Cover Pool entered into the Register with respect to the Covered Bonds shall at all times be a minimum of 105 per cent.


More Definitions of Financial Undertakings Act

Financial Undertakings Act means Act No. 161/2002 on Financial Undertakings of
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Financial Undertakings Act means the Act No. 161/2002 on Financial Undertakings (of Iceland), as amended.
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Related to Financial Undertakings Act

  • financial undertaking means any of the following entities:

  • Group Undertaking means the Company or another undertaking in the group;

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • subsidiary undertaking means an undertaking controlled by a parent undertaking, including any subsidiary undertaking of an ultimate parent undertaking;

  • railway undertaking means any public or private undertaking licensed according to this Directive, the principal business of which is to provide services for the transport of goods and/or passengers by rail with a requirement that the undertaking ensure traction; this also includes undertakings which provide traction only;

  • Principal Underwriter shall have the meanings given them in the 1940 Act.

  • Disclosure Undertaking means the Continuing Disclosure Undertaking, dated as of the Dated Date, relating to certain obligations contained in the SEC Rule.

  • Financial Agreement means an agreement that meets the

  • reporting issuer shall have the meaning set forth in Section 6.2.

  • Standard Securitization Undertakings means representations, warranties, covenants and indemnities entered into by the Borrower or any Subsidiary of the Borrower that are customary in a Securitization Financing.

  • Advisers Act means the Investment Advisers Act of 1940, as amended.

  • the Companies Act means the Companies Act 1981 of Bermuda as may from time to time be amended;

  • Master Standby Agreement means the Master Agreement for Standby Letters of Credit dated as of the Closing Date between Borrower, as Applicant, and GE Capital, as Issuer.

  • WHS Act means the Work Health and Safety Act 2011 (Qld) or the Work Health and Safety (National Uniform Legislation) Act 2012 (NT), where applicable. WHS EPH means Workplace Health and Safety Entry Permit Holders under the WHS Act. Workplace Impairment Policy and Procedures means the Workplace Impairment Policy and Procedures found in APPENDIX 4.

  • group of undertakings means a controlling undertaking and its controlled undertakings;

  • statutory undertaker means a person who is or is deemed to be a statutory undertaker for the purposes of any provision of Part 11 of the Town and Country Planning Act 1990.

  • Cayman Companies Act means the Companies Act (As Revised) of the Cayman Islands.

  • Holding Company Act means the Public Utility Holding Company Act of 1935, as amended.

  • Companies Act means the Companies Act, 2008 (Act No. 71 of 2008);

  • OHS Act means the Occupational Health and Safety Act 2004;

  • Bank Holding Company Act means the Bank Holding Company Act of 1956, as amended.

  • Investment Advisers Act means the Investment Advisers Act of 1940, as amended.

  • statutory undertakers means persons authorised by any law to carry on any road transport, water transport, dock, harbour or pier undertakings or any undertaking for the supply of electricity, water, telephonic, telegraphic, sewerage or quarrying services and “statutory undertaking” has a corresponding meaning;

  • Financial guarantee means a performance bond, maintenance bond, surety bond, irrevocable letter of credit, or similar guarantees submitted to the [administering authority] by the responsible party to assure that requirements of the ordinance are carried out in compliance with the storm water management plan.

  • Financial aid means loans and/or grants to needy students