Issuer Event of Default definition

Issuer Event of Default means the occurrence of any of the following events:

Issuer Event of Default has the meaning given to it in Condition 7.01 (Issuer Events of Default);

Issuer Event of Default means an event of default as set out in part 1 (Issuer Events of Default) of schedule 4 (Events of Default) to the Framework Agreement.

Examples of Issuer Event of Default in a sentence

• For the purposes of these Terms and Conditions, a “Covered Bond Guarantee Activation Event” means the earlier to occur of (i) an Issuer Event of Default together with the service of an Issuer Acceleration Notice on the Issuer and the service of a Notice to Pay on the Guarantor; and (ii) a Guarantor Event of Default together with the service of a Guarantor Acceleration Notice on the Issuer and the Guarantor.

• However, the LLP shall have no obligation under the Covered Bond Guarantee to pay any Guaranteed Amounts until the occurrence of an Issuer Event of Default, service by the Bond Trustee on the Issuer of an Issuer Acceleration Notice and service by the Bond Trustee on the LLP of a Notice to Pay or, if earlier, following the occurrence of an LLP Event of Default and service by the Bond Trustee of an LLP Acceleration Notice.

• Any Issuer Event of Default and/or LLP Event of Default in relation to such unlisted Covered Bonds, Covered Bonds not admitted to trading on any regulated or unregulated market or N Covered Bonds could have an adverse effect on the holders of the listed Covered Bonds which are issued pursuant to this Prospectus.

• For the purposes of these Terms and Conditions a “Covered Bond Guarantee Activation Event” means the earlier to occur of (i) an Issuer Event of Default, service of an Issuer Acceleration Notice on the Issuer and service of a Notice to Pay on the Guarantor LP; and (ii) a Guarantor LP Event of Default and service of a Guarantor LP Acceleration Notice on the Issuer and the Guarantor LP.

• Any Extraordinary Resolution to direct the Bond Trustee to serve an Issuer Acceleration Notice following an Issuer Event of Default, to direct the Bond Trustee to serve an LLP Acceleration Notice following an LLP Event of Default and any direction to the Bond Trustee or Security Trustee to take any enforcement action must be passed at a single meeting of the holders of all Covered Bonds of all Series then outstanding.

More Definitions of Issuer Event of Default

Issuer Event of Default means each of the events defined as such in Condition 10(a) (Events of Default).

Issuer Event of Default means any one of the circumstances described in Condition 10(a).

Issuer Event of Default. As defined in Section 5.01.

Issuer Event of Default means any of the following:

Issuer Event of Default has the meaning ascribed thereto in Condition 10(a).

Issuer Event of Default. As defined in Section 5.01 of the Indenture.

Issuer Event of Default means the occurrence of any of the events set out in Condition 11.