Hard Bullet Covered Bonds definition

Hard Bullet Covered Bonds means certain Series of Covered Bonds which may be scheduled to be redeemed in full on their respective Final Maturity Dates without any provision for scheduled redemption other than on the Final Maturity Date;
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Hard Bullet Covered Bonds means Covered Bonds which are not Soft Bullet Covered Bonds."
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Examples of Hard Bullet Covered Bonds in a sentence

  • For those bonds classified as Hard Bullet Covered Bonds, if the Pre-Maturity Liquidity Test is breached, the LLP is obliged to sell Selected Loans and their Related Security (selected on a random basis) to seek to generate sufficient cash to enable the LLP to pay the Final Redemption Amount, on any Hard Bullet Covered Bond, should the Issuer fail to pay.

  • The Cash Manager will ensure that all credits and debits of funds in respect of any Series of Hard Bullet Covered Bonds are recorded in the Pre-Maturity Liquidity Ledger at the appropriate time.

  • The Covered Bonds in this Series may be Instalment Covered Bonds, Hard Bullet Covered Bonds or a combination of either of the foregoing depending upon the Redemption/Payment Basis shown in the applicable Final Terms Document.

  • The Covered Bonds in this Series may be Instalment Covered Bonds, Partly Paid Covered Bonds, Hard Bullet Covered Bonds or a combination of any of the foregoing, depending upon the Redemption/Payment Basis shown in the applicable Final Terms Document.

  • The Covered Bonds in this Series may be Instalment Covered Bonds, Partly Paid Covered Bonds, Hard Bullet Covered Bonds or a combination of any of the foregoing depending upon the Redemption/Payment Basis shown in the applicable Final Terms Document.

  • Each Series of Hard Bullet Covered Bonds is subject to a Pre-Maturity Test on each Local Business Day during the Pre-Maturity Test Period prior to the occurrence of an Issuer Event of Default and/or a Covered Bond Guarantor Event of Default.

  • The Issuer will not issue unlisted Covered Bonds without first agreeing certain conditions precedent to their issue with the Rating Agencies and will not issue Covered Bonds that are not principal-protected.The Covered Bonds in this Series may be Instalment Covered Bonds, Hard Bullet Covered Bonds or a combination of either of the foregoing depending upon the Redemption/Payment Basis shown in the applicable Final Terms Document.

  • The intention of the Pre-Maturity Test is to provide liquidity for the Hard Bullet Covered Bonds if the Issuer's (in the case of Covered Bonds issued by BNZ) or the Guarantor’s (in the case of Covered Bonds issued by BNZ-IF) credit ratings have fallen below a certain level.

  • Notwithstanding the Priorities of Payments, the funds debited from the Pre-Maturity Liquidity Ledger shall be transferred to the Transaction Account, from which the LLP shall (in accordance with Clause 17), on the relevant Final Maturity Date, (subject to making the requisite payment to the Covered Bond Swap Provider) make a payment to the Bond Trustee or (if so directed by the Bond Trustee) to the Principal Paying Agent in and towards the amount due on the relevant Series of Hard Bullet Covered Bonds.

  • If, prior to maturity of Hard Bullet Covered Bonds, the Pre-Maturity Test is breached, the Guarantor may offer to sell Randomly Selected Loans to seek to generate sufficient cash to enable the Guarantor to pay the Final Redemption Amount on any Hard Bullet Covered Bonds should the Issuer fail to pay the Final Redemption Amount on the Final Maturity Date: see “Summary of the Principal Documents—Limited Partnership Agreement—Sales of Randomly Selected Loans following a breach of the Pre-Maturity Test”.

Related to Hard Bullet Covered Bonds

  • Covered Bonds means any and all the covered bonds (obbligazioni bancarie garantite) issued or to be issued by the Issuer pursuant to the terms and subject to the conditions of the Programme Agreement.

  • covered bond means a debt security issued by any member of the banking group, for which repayment to holders is guaranteed by a SPV, and investors retain an unsecured claim on the issuer.

  • Regulation S Global Covered Bond means a Registered Global Covered Bond representing Covered Bonds sold outside the United States in reliance on Regulation S;

  • Rule 144A Global Covered Bond means a Registered Global Covered Bond representing Covered Bonds sold in the United States to QIBs in reliance on Rule 144A;

  • Legended Covered Bonds means Registered Covered Bonds (whether in definitive form or represented by a Registered Global Covered Bond) sold in private transactions to QIBs in accordance with the requirements of Rule 144A;

  • Completion Bonds means Bonds issued pursuant to a Supplemental Indenture ranking on parity with the Series of Bonds issued under such Supplemental Indenture, the proceeds of which are to be used to complete the Project.

  • Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by S&P or (iv) have been determined to be economically defeased by S&P and assigned a rating no lower than the rating that is S&P equivalent of S&P’s AAA rating. In the event that a defeased obligation which is an S&P Eligible Asset does not meet the criteria of an Escrowed Bond, such Municipal Obligation will be deemed to remain in the Issue Type Category into which it fell prior to such defeasance.

  • Debt bondage means the status or condition of a debtor arising from a pledge by the debtor of his or her personal services or of those of a person under his or her control as a security for debt, if the value of those services as reasonably assessed is not applied

  • Pledged Bonds means any Bonds purchased by the Borrower with payments made on the Credit Facility, which Bonds are registered in the name of the Borrower and held by the Trustee on behalf of the Credit Enhancer pursuant to the terms of the Bond Pledge Agreement, until such time as such Bonds are sold by the Borrower or by the Remarketing Agent.

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.

  • Own risk and solvency assessment means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer or insurance group's current business plan, and the sufficiency of capital resources to support those risks.

  • Series 2021 Bonds means, collectively, the Series 2021A Bonds and the Series 2021B Bonds.

  • Floating Rate Notes means the Class A-2b Notes.

  • Bond Law means Article 4.5 of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California, commencing with Section 53506 of said Code, as in effect on the date of adoption hereof and as amended hereafter.

  • Project Funding Agreement means an agreement in the form of Schedule E that incorporates the terms of this Agreement and enables the Funder to provide one-time or short term funding for a specific project or service that is not already described in the Schedules;

  • SWS wage assessment agreement means the document in the form required by the Department of Education, Employment and Workplace Relations that records the employee’s productive capacity and agreed wage rate

  • Refunded Bonds means the portion of the $280,000 of the Series J Bonds now outstanding that are stated to mature on December 1 in each of the years 2021 and 2022 that is to be refunded by the Bonds, as determined by the Fiscal Officer and specified in the Certificate of Award at the time of the sale of the Bonds in accordance with Section 2.

  • Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

  • CREFC® Bond Level File The data file in the “CREFC® Bond Level File” format substantially in the form of and containing the information called for therein, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Transition bonds means bonds, notes, certificates of

  • Project Implementation Unit or “PIU” means the unit referred to in Section I.A.1 of Schedule 2 to this Agreement.

  • Fundserv Notes means Notes purchased through Fundserv.

  • School Bonds means School Obligations issued as Bonds.

  • Initial Bonds means the Bonds issued on the First Issue Date.

  • 2024 Notes means the 7.000% Senior Notes due 2024, issued pursuant to the 2024 Indenture.

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.