ISDA Credit Event definition

ISDA Credit Event means the occurrence of a “Credit Event” (as defined in the 2014 Credit Derivatives Definitions) in connection with a “Bankruptcy” (as defined in Section 4.2 of the 2014 Credit Derivatives Definitions) or a “Failure to Pay” (as defined in Section 4.5 of the 2014 Credit Derivatives Definitions), taking into account Section 4.1 of the 2014 Credit Derivatives Definitions, with respect to the Company as the “Reference Entity”, in either case, as determined by the Determinations Committee or as triggered by the delivery to a Lender (or any of its Affiliates) of a “Credit Event Notice” (as defined in the 2014 Credit Derivatives Definitions) by a counterparty to a credit default swap referencing the Company as the “Reference Entity” (as defined in the 2014 Credit Derivatives Definitions) entered into by such Lender (or any of its Affiliates).
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ISDA Credit Event means an event that constitutes a “Failure to Pay" Credit Event or a “Bankruptcy” Credit Event (as such terms are defined in the Credit Derivatives Definitions and taking into account Section 4.1 of the Credit Derivatives Definitions).
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ISDA Credit Event has the meaning specified in Section 2.04(e) (ii).
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Examples of ISDA Credit Event in a sentence

  • The parties hereto hereby authorize the Administrative Agent to deliver a notice to any beneficiary of a Letter of Credit issued hereunder should an announcement be made by ISDA that the relevant Credit Derivatives Determinations Committee (or its successor) has determined that an ISDA Credit Event has occurred with respect to the Company.

  • The broad definition of deliverable obligations was intended to create a standard hedge contract with a wide range of protection possibilities for the credit risk of the reference entity.However, the restructuring of Conseco Finance on 22 September 2000 highlighted the problems with the 1999 ISDA Credit Event Definitions.

  • The ISDA Credit Event Determinations Committee will not necessarily publish a determination in respect of every potential Credit Event, and therefore the Issuer may need to consult public information sources or use its own observations and judgment in determining whether and when a Credit Event may have occurred.

  • The broad definition of deliverable obligations was intended to create a standard hedge contract with a wide range of protection possibilities for the credit risk of the reference entity.However, the restructuring of Conseco Finance on 22 September 2000 highlighted the problems with the 1999 ISDA Credit Event Definitions.


More Definitions of ISDA Credit Event

ISDA Credit Event means the occurrence of a Company Bankruptcy, a Company Restructuring or a Company Indebtedness Failure to Pay.
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Related to ISDA Credit Event

  • Credit Event UPB means, with respect to any Credit Event Reference Obligation, the unpaid principal balance thereof as of the end of the Reporting Period related to the Payment Date that it became a Credit Event Reference Obligation.

  • Credit Event shall have the meaning assigned to such term in Section 4.01.

  • Credit Event Notice means an irrevocable notice from the Issuer or the Swap Counterparty, as the case may be, to the other party (in the form and delivered in the manner described in the Default Swap) that describes a Credit Event that occurred on or after the Effective Date of the Default Swap.

  • Credit Event Amount means, with respect to any Payment Date, the aggregate amount of the Credit Event UPBs of all Credit Event Reference Obligations for the related Reporting Period.

  • Credit Event Upon Merger has the meaning specified in Section 5(b).

  • Credit Event Net Gain means, with respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of:

  • Credit Event Net Loss means, with respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of:

  • ISDA Fallback Rate means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Credit Event Resolution Request Date means, with respect to a notice to ISDA requesting that a Credit Derivatives Determinations Committee be convened to resolve:

  • Credit Event Reference Obligation means, with respect to any Payment Date, any Reference Obligation with respect to which a Credit Event has occurred.

  • ISDA Rate for an Interest Accrual Period means a rate equal to the Floating Rate that would be determined by the Calculation Agent under a Swap Transaction under the terms of an agreement incorporating the ISDA Definitions and under which:

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.15(a)(ii).

  • Letter of Credit Expiration Date means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Alternative Currency Term Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender or the issuance of, or participation in, a Letter of Credit by such Lender.

  • Letter of Credit Termination Date means the tenth day preceding the Termination Date.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Alternative Currency Term Rate means, for any Interest Period, with respect to any Credit Extension:

  • Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05.

  • Swing Line Advance means an advance made by (a) the Swing Line Bank pursuant to Section 2.01(c) or (b) any Lender pursuant to Section 2.02(b).