Issuer Senior Creditors definition

Issuer Senior Creditors means creditors of the Issuer and, for this purpose, holders of any instrument issued by, or other obligation of, the Issuer which ranks senior to the payment obligations of the Issuer under the Issuer Obligations) other than creditors in respect of obligations the claims in relation to which rank or are expressed to rank pari passu with, or junior to, the claims of the holders of the Capital Securities in respect of the Issuer Obligations;

Issuer Senior Creditors. ’ means creditors of the relevant Issuer whose claims are admitted to proof in the winding-up or administration of the relevant Issuer and who are unsubordinated creditors of such Issuer.

Issuer Senior Creditors means creditors of the Issuer whose claims are admitted to proof in the winding-up or administration of the Issuer and who are unsubordinated creditors of the Issuer;

Examples of Issuer Senior Creditors in a sentence

• The rights and claims of the ECN Securityholders and the Couponholders and under the Guarantee will be subordinated to the claims of all Issuer Senior Creditors and all Guarantor Senior Creditors, as the case may be.

• The Subordinated Trustee in its individual capacity shall be entitled to all the rights set forth in this Article with respect to any claims of Issuer Senior Creditors, if any, as the case may be, which may at any time be held by it, to the same extent as any other Issuer Senior Creditors, if any, as the case may be, and nothing in this Subordinated Indenture shall deprive the Subordinated Trustee of any of its rights as such holder.

• The provisions of this Article Thirteen are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities of each series on the one hand and the Issuer Senior Creditors on the other hand.

• With respect to the Issuer Senior Creditors, the Subordinated Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth in this Article and no implied covenants or obligations with respect to the Issuer Senior Creditors or such other creditors shall be read into this Subordinated Indenture against the Subordinated Trustee.

• The rights and claims of the Holders of any series of Perpetual Subordinated Capital Securities are subordinated to Issuer Senior Creditors with respect to such Securities, including claims of any Holders of Dated Subordinated Debt Securities, Perpetual Subordinated Debt Securities or any other subordinated debt securities of the Issuer not expressed to rank equally with or junior to the Perpetual Subordinated Capital Securities.

More Definitions of Issuer Senior Creditors

Issuer Senior Creditors in respect of the Issuer under the Notes:

Issuer Senior Creditors means all policyholders and beneficiaries pursuant to a contract of insurance of a Supervised Group Company (and including, for the avoidance of doubt, all Policyholder Claims), any other non-subordinated creditors of the Issuer or any Supervised Group Company and (in the case of Perpetual Subordinated Capital Securities only) the creditors of the Issuer whose claims are, or are expressed to be, subordinated to the claims of other creditors of the Issuer (including all Holders of the Dated Subordinated Debt Securities and the Perpetual Subordinated Debt Securities), other than those (a) whose claims are in respect of capital instruments or securities which constitute, or would but for any, but for any applicable limitation on the amount of such capital, constitute Tier 1 Capital or (b) whose claims are in respect of any capital instruments or securities which rank pari passu with (or junior to) the Perpetual Subordinated Capital Securities as to participation in the Issuer’s assets in the event of its winding-up.

Issuer Senior Creditors. ’ means creditors of the relevant ECN Issuer whose claims are admitted to proof in the winding-up or administration of the relevant ECN Issuer and who are unsubordinated creditors of such ECN Issuer.

Issuer Senior Creditors has the meaning set out in Condition 19 of the Dated ECNs or Condition 21 of the Undated ECNs, as the case may be

Issuer Senior Creditors means creditors of the Issuer whose claims are admitted to proof in the winding-up or administration of the Issuer and who are unsubordinated creditors of the Issuer. Status of the Guarantee The Guarantor (or Guarantors, jointly and severally, as the case may be) will irrevocably and unconditionally guarantee the due and punctual payment of all principal, premium and interest and any other sums from time to time expressed to be payable by the Issuer in respect of the ECNs and the Coupons under the relevant Trust Deed in respect thereof. The obligations of a Guarantor under the Guarantee will constitute direct, unsecured and subordinated obligations of that Guarantor. Subordination of the relevant Guarantee In the event of: (i) an order being made, or an effective resolution being passed, for the winding-up of a Guarantor (except, in any such case, a solvent winding-up solely for the purposes of a reorganisation, reconstruction or amalgamation of such Guarantor or the substitution in place of such Guarantor of a successor in business of such Guarantor, the terms of which reorganisation, reconstruction, amalgamation or substitution (x) have previously been approved in writing by the ECN Trustee or by an Extraordinary Resolution and (y) do not provide that the relevant ECNs shall thereby become redeemable or repayable in accordance with their Conditions); or (ii) an administrator of such Guarantor being appointed and such administrator declaring, or giving notice that it intends to declare and distribute, a dividend, the rights and claims of the ECN Securityholders and the Couponholders against such Guarantor in respect of or arising under (including any damages awarded for breach of any obligations under) the relevant ECNs, the relevant Coupons and relevant Trust Deed relating to them will be subordinated to the claims of all Guarantor Senior Creditors, as the case may be, but shall rank (a) at least pari passu with all claims of all holders of obligations of such Guarantor which constitute, or would but for any applicable limitation on the amount of such capital constitute, Lower Tier 2 Capital of such Guarantor on a solo and/or consolidated basis; and (b) in priority to (01) the claims of holders of all obligations to such Guarantor which constitute, or would but for any applicable limitation on the amount of such capital constitute, Upper Tier 2 Capital or Tier 1 Capital of such Guarantor on a solo and/or consolidated basis, (02) the claims of all other u...

Issuer Senior Creditors means the holders of Senior Obligations of the Issuer; “Mandatory Distribution” means in respect of any period (a “Distribution Period”):

Issuer Senior Creditors means creditors of the Issuer whose claims are admitted to proof in the winding up of the Issuer and who are either (a) unsubordinated creditors of the Issuer or (b) creditorsof the Issuer whose claims against the Issuer are, or are expressed to be, subordinated in the event of the winding up of the Issuer, but senior to the Notes;