Grupo Aval definition

Grupo Aval has the meaning specified in the first paragraph of this Indenture, and any successor thereto in accordance with this Indenture.
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Grupo Aval has unconditionally guaranteed, on a senior unsecured basis, Grupo Aval Limited’s payment obligations under the Indenture and the Notes (the “Guarantees”).
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Grupo Aval or the “Beneficiary”) of the shares of stock of Banco Popular of their respective property, as well as of all dividends decreed, accrued but not yet payable, derived from the so referred shares of Banco Popular. As a consequence of the escision, Escorial and Popular will partially split and will continue their legal and economic existence life with the assets and net-worth that they retain.
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Examples of Grupo Aval in a sentence

  • Like observable prices are not available for these securities, Grupo Aval has used valuation techniques as discounted cash flows to obtain fair value.

  • Grupo Aval considers hedging as highly effective if at the beginning and in subsequent periods, the hedging is highly effective at offsetting changes in fair value or in cash flows attributable to the risk hedged during the period for which the hedging has been designated.

  • Promigas and its subsidiaries hedge the exchange risk arising in future transactions of highly probable gas transportation income, entered into forward contracts for the sale of U.S. dollars with financial entities different from the ones consolidated into Grupo Aval.

  • Grupo Aval has initially adopted IFRS 15 and IFRS 9 as of January 1, 2018.

  • Without prejudice to the role of Grupo Aval in its capacity as parent company, each Subordinate Entity is directly responsible for managing its risks and those of its affiliates and subsidiaries.

  • This operation was eliminated in the consolidation process of Grupo Aval and was excluded of the foreign investment hedge accounting.

  • Non-controlling Interest in Grupo Aval reflects: (i) the minority stakes that third party shareholders hold in each of its direct consolidated subsidiaries (Banco de Bogotá, Banco de Occidente, Banco Popular, Banco AV Villas and Corficolombiana), and (ii) the minority stakes that third party shareholders hold in the consolidated subsidiaries at the bank level (mainly Porvenir).

  • The guidelines and principles enshrined under the referred Policy apply both to Grupo Aval as well as to each of its subordinate entities regarding their respective competences.

  • Briefly Indicate: The Board of Directors of Grupo Aval approved a Framework Policy for the Integral Risk Management.

  • Likewise, the Audit Committee of Grupo Aval, in its capacity as support committee of the Board of Directors for the decision-making inherent to internal control and its improvement, is periodically informed about the risk situation of the Corporation, the events occurred, their level of impact and criticality, allowing them to propose corrective actions or generating process remediation or improvement instructions for the Senior Management for the cases cited.


More Definitions of Grupo Aval

Grupo Aval. In December 2021, Banco de Occidente, Banco Popular and Banco AV Villas were valued dated October 31, 2021 using financial statements as of October 31, 2021. + In December 2021, it was requested to update the value of all companies as of November 30, 2021. These monthly updates are intended to reflect the economic realities in each month. However, they do not change the long-term projections since the companies' explicit strategy has not undergone any relevant changes.
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Grupo Aval. Limited has duly authorized the issue of 5.25% Senior Notes due 2017 (the “Notes”), initially in an aggregate principal amount of U.S.$600,000,000, and has duly authorized the execution and delivery of this Indenture. Grupo Aval has authorized the Guarantees (as hereinafter defined) of the Notes, and to provide therefor Grupo Aval has duly authorized the execution and delivery of this Indenture. All things necessary have been done to make the Notes and the Guarantees, when executed and authenticated and delivered hereunder and duly issued, the respective valid obligations of Grupo Aval Limited and Grupo Aval, and to make this Indenture a valid agreement of Grupo Aval Limited and Grupo Aval.
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Related to Grupo Aval

  • OPWC means the Ohio Public Works Commission created pursuant to Revised Code Section 164.02.

  • ECFMG means the Educational Commission for Foreign Medical Graduates, an organization that assesses the readiness of international medical school graduates to enter ACGME-approved residency programs in the United States of America.

  • Consolidated Financials means, for any Fiscal Year or other accounting period of Five Star, annual audited and quarterly unaudited financial statements of Five Star prepared on a consolidated basis, including Five Star’s consolidated balance sheet and the related statements of income and cash flows, all in reasonable detail, and setting forth in comparative form the corresponding figures for the corresponding period in the preceding Fiscal Year, and prepared in accordance with GAAP throughout the periods reflected.

  • snippet means the Guarantee and Collateral Agreement, as amended, supplemented or otherwise modified from time to time, in the form of Exhibit E, among Holdings, the Borrower, each Subsidiary Loan Party and the Administrative Agent.","snippetLinks":[{"key":"guarantee-and-collateral-agreement","type":"clause","offset":[10,44]},{"key":"as-amended","type":"definition","offset":[46,56]},{"key":"otherwise- modified","type":"clause","offset":[74,92]},{"key":"from-time-to-time","type":"clause","offset":[93,110]},{"key":"form-of","type":"clause","offset":[119,126]},{"key":"exhibit-e","type":"clause","offset":[127,136]},{"key":"holdings","type":"clause","offset":[144,152]},{"key":"the-borrower","type":"clause","offset":[154,166]},{"key":"subsidiary-loan- party","type":"definition","offset":[173,194]},{"key":"the-administrative-agent","type":"clause","offset":[199,223]}],"hash":"61aabf5edc0e717dd017e870877aba2d","id":5},{"size":55,"samples":[{"uri":"/contracts/dcqI4XJ9kpY#collateral-agreement","label":"Credit Agreement (AGA Medical Holdings, Inc.)","score":21},

  • mixed financial holding company means a mixed financial holding company as defined in point (21) of Article 4(1) of Regulation (EU) No 575/2013;

  • Consolidated Financial Statements means, with respect to any Person, collectively, the consolidated financial statements and notes to those financial statements, of that Person and its Consolidated Subsidiaries prepared in accordance with GAAP.

  • Consolidated Senior Funded Debt means at any date the sum of: (i) Consolidated Funded Debt, minus (ii) the Subordinated Debt.

  • Topco has the meaning set out in the Preamble;

  • OJEU means the Official Journal of the European Union.

  • Consolidated Stockholders’ Equity means, as of any date of determination for the Company and its Subsidiaries (excluding Project Debt Entities) on a consolidated basis, stockholders’ equity as of that date, determined in accordance with GAAP.

  • Stockholders’ Equity means, at any date, the amount determined on a consolidated basis, without duplication, in accordance with GAAP, of stockholders’ equity for the Borrower and its Subsidiaries at such date.

  • Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Shareholders’ Equity means, as of any date of determination, consolidated shareholders’ equity of the Lead Borrower and its Subsidiaries as of that date determined in accordance with GAAP.

  • BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC.

  • Pro se means a person proceeding on the person’s own behalf without legal representation.

  • Total Shareholders’ Equity means the total common and preferred shareholders' equity of the Company as determined in accordance with GAAP (calculated including any Recharacterized Portion, but excluding (i) unrealized gains (losses) on securities as determined in accordance with FAS 115 and (ii) any charges taken to write off any goodwill included on the Company's balance sheet on the Effective Date to the extent such charges are required by FAS 142).

  • VIE of any Person means any entity that controls, is controlled by, or is under common control with such Person and is deemed to be a variable interest entity consolidated with such Person for purposes of U.S. GAAP. As used herein, “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through ownership of voting securities or other interests, by contract or otherwise.

  • verge means the portion of a thoroughfare which lies between the boundary of a carriageway and the adjacent property line but does not include a footpath.

  • Consolidated First Lien Net Debt means, as of any date of determination, the aggregate principal amount of Consolidated Net Debt on such date that is secured by a Lien on any asset of the Borrower and its Restricted Subsidiaries as of such date, but excluding such Indebtedness to the extent secured on a junior lien basis to the Obligations.

  • We/Us/Our means TATA AIG General Insurance Company Limited.

  • Consolidated Shareholders’ Equity means, as of any date of determination, consolidated shareholders’ equity of the Borrower and its Subsidiaries, as determined in accordance with GAAP.

  • Performing Cash Pay High Yield Securities means High Yield Securities (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semiannual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • B-BBEE means broad-based black economic empowerment as defined in section 1 of the Broad-Based Black Economic Empowerment Act;

  • lone parent means a person who has no partner and who is responsible for and a member of the same household as a child or young person;

  • Selected Consolidated Financial Data and "Capitalization" fairly present the information set forth therein on a basis consistent with that of the audited financial statements contained in the Registration Statement.