Liquidated Reference Obligation definition

Liquidated Reference Obligation means a Reference Obligation with respect to which a Verified Loss Amount has been determined. For the avoidance of doubt, once a Defaulted Reference Obligation has become a Liquidated Reference Obligation then it shall no longer be considered as a Defaulted Reference Obligation and, inter alia, for the purposes of clause (b) of the definition of Maximum Portfolio Notional Amount (as defined in the Credit Default Swap) and clause (i) of the definition of Maximum Cash Settlement Amount (also as defined in the Credit Default Swap), the Reference Obligation Notional Amount of such Defaulted Reference Obligation shall be zero. Once a Defaulted Reference Obligation becomes a Liquidated Reference Obligation, it shall be removed from the Reference Portfolio.
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Liquidated Reference Obligation means a Reference Obligation with respect to which a Verified Loss Amount has been determined. For the avoidance of doubt, once a Defaulted Reference Obligation has become a Liquidated Reference Obligation then it shall no longer be considered as a Defaulted Reference Obligation and, inter alia:
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Liquidated Reference Obligation means a Reference Obligation with respect to which a Loss Determination Amount has been determined. The “Maximum Impaired Notional Amount” of an Impaired Reference Obligation on any date of determination is the sum of (a) the lesser of (i) the Reference Obligation Notional Amount thereof and (ii) the sum of (x) the Impaired Notional Amount on such date and (y) the Guarantee Undrawn Amount thereof on such date plus (b) the greatest aggregate amount thereof in respect of interest and fees (in respect of commitments to make advances, issue letters of credit or otherwise to provide credit services, however described, under revolving credit facilities or other similar credit agreements comprising the Impaired Reference Obligation, but excluding arrangement fees or other similar fees not directly related to the availability or extension of credit or credit-related services) capable of becoming owed thereunder to all relevant DBAG Group Entities in respect of such Impaired Reference Obligation for the period from and including the date on which the relevant Potential Failure to Pay occurred, to but excluding the Legal Maturity Date. Initial Notional Amount; Credit Default Swap Notional Amount On the Closing Date, the initial notional amount of the Credit Default Swap (the “Initial Notional Amount”) will be €442,200,000, representing the cumulative amount of Floating Payments and Adjustment Payments, if any, that the Issuer may be required to pay to the Swap Counterparty under the Credit Default Swap. On any date of determination, the “Credit Default Swap Notional Amount” will equal
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Examples of Liquidated Reference Obligation in a sentence

  • Recovery Determination Amount: For each Liquidated Reference Obligation on any date, an amount equal to (a) the Defaulted Notional Amount with respect thereto that existed immediately prior to such Liquidated Reference Obligation becoming a Liquidated Reference Obligation minus (b) the related Loss Determination Amount as of such date.

  • Excess Losses If the Accountant determines, in respect of any Liquidated Reference Obligation, that the Verified Loss Amount previously determined in respect of such Liquidated Reference Obligation was erroneously set at a higher figure than the correct amount (the excess being an "Excess Loss Amount"), the Calculation Agent shall promptly notify the Swap Counterparty, the Issuer, the Administrator and the Note Trustee in writing of the amount thereof.

  • Additional Losses If the Accountant determines, in respect of any Liquidated Reference Obligation, that the Verified Loss Amount previously determined in respect of such Liquidated Reference Obligation was erroneously set at a lower figure than the correct amount (the deficiency being an "Additional Loss Amount"), the Calculation Agent shall promptly notify the Swap Counterparty, the Issuer, the Administrator and the Note Trustee in writing of the amount thereof.

  • Upon the determination of the Verified Loss Amount for any Defaulted Reference Obligation, the Defaulted Reference Obligation shall become a Liquidated Reference Obligation and the Calculation Agent will amend the Reference Registry by removing the relevant Defaulted Reference Obligation from the Reference Registry.

  • Liquidated Reference Obligation: A Reference Obligation with respect to which an Interim Loss Determination Amount or a Final Loss Determination Amount has been determined.

  • Defaulted Reference Obligation: A Reference Obligation with respect to which an Event Determination Date has occurred and been notified by the Credit Event Monitor Agent to Seller and the Class E1 Noteholders in a Credit Event Notice but which has not become a Liquidated Reference Obligation.

  • However, for the avoidance of doubt, the sum of such Additional Loss Amount plus any payment amounts previously determined in respect of such Liquidated Reference Obligation shall never be greater than the relevant Defaulted Notional Amount.

  • The Reference Portfolio will not include any Liquidated Reference Obligation.

  • Each Loss Determination Amount shall relate to the First Loss Threshold Accrual Period in which the Event Determination Date occurred with respect to the relevant Liquidated Reference Obligation.

  • Although according to the Montreux Convention, in peacetime merchant ships have the right of free passage through the straits, Turkey restricted traffic arguing that it threatens the environment and the health of the several million people living in the area.


More Definitions of Liquidated Reference Obligation

Liquidated Reference Obligation. ’ means a Defaulted Reference Obligation in respect of which a Credit Protection Calculation Notice has been delivered to the Issuer, the Verification Agent, the Cash Administrator and the Trustee or, following the occurrence of the Verification Agent Trigger Event, in respect of which a Credit Protection Verification Report has been delivered to the Issuer, the Cash Administrator, the CDS Calculation Agent and the Trustee.
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Liquidated Reference Obligation means an Impaired Reference Obligation in respect of which the Work-out Period has been finalised.
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Liquidated Reference Obligation means a Reference Obligation which was a Defaulted Reference Obligation and where either:
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Liquidated Reference Obligation shall have the meaning specified in the Tranched Credit Default Swap.
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Related to Liquidated Reference Obligation

  • Reference Obligation means an obligation used for the purposes of determining the cash settlement value of a credit derivative;

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

  • Reference Obligations The residential mortgage loans identified on xxxx://xxx.xxxxxxxxxx.xxx/creditriskofferings/security_data.html. Reference Pool: All of the Reference Obligations, collectively.

  • Reversed Credit Event Reference Obligation With respect to any Payment Date means a Reference Obligation formerly in the Reference Pool that became a Credit Event Reference Obligation in a prior Reporting Period that is found in the related Reporting Period, through Xxxxxxx Mac’s quality control process, to have an Underwriting Defect or a data correction that invalidates the previously determined Credit Event.

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of trust certificates or other instruments intended to be issued in compliance with the principles of Shari'ah, whether or not in return for consideration of any kind.

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Affected Reference Entity means, in respect of a Specified Payment Date, that the Reference Entity was a Non-Determined Reference Entity as of the Cut-off Date relating to that Specified Payment Date (in each case determined by reference to Greenwich Mean Time (or, if the relevant Standard is Japan or Japan Sovereign, Tokyo time)) or that a Deferral Notice has been given to the Company after the Cut-off Date relating to that Specified Payment Date but on or prior to that Specified Payment Date (in each case determined by reference to Greenwich Mean Time).

  • Compliance obligation means the quantity of verified reported emissions or assigned emissions for which an entity must submit compliance instruments to ARB.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Unsecured Longer-Term Indebtedness means any Indebtedness for borrowed money of an Obligor that (a) has no amortization, or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date (it being understood that customary put rights or repurchase or redemption obligations (x) in the case of convertible securities, in connection with the suspension or delisting of the capital stock of the Borrower or the failure of the Borrower to satisfy a continued listing rule with respect to its capital stock or (y) arising out of circumstances that would constitute a “fundamental change” (as such term is customarily defined in convertible note offerings) or be Events of Default under this Agreement shall not be deemed to be “amortization”, “mandatory redemption”, “repurchase”, “prepayment” or a “final maturity date” for purposes of this definition), (b) is incurred pursuant to documentation containing financial covenants, covenants governing the borrowing base, if any, and portfolio valuation, and events of default that are no more restrictive than those set forth in this Agreement, and other terms substantially comparable to market terms for substantially similar debt of other similarly situated borrowers as reasonably determined in good faith by the Borrower (it being understood that customary put rights or repurchase or redemption obligations (x) in the case of convertible securities, in connection with the suspension or delisting of the capital stock of the Borrower or the failure of the Borrower to satisfy a continued listing rule with respect to its capital stock or (y) arising out of circumstances that would constitute a “fundamental change” (as such term is customarily defined in convertible note offerings) or be Events of Default under this Agreement shall not be deemed to be more restrictive for purposes of this definition), and (c) is not secured by any assets of any Obligor. For the avoidance of doubt, (a) Unsecured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Unsecured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Unsecured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Unliquidated Obligations means, at any time, any Secured Obligations (or portion thereof) that are contingent in nature or unliquidated at such time, including any Secured Obligation that is: (i) an obligation to reimburse a bank for drawings not yet made under a letter of credit issued by it; (ii) any other obligation (including any guarantee) that is contingent in nature at such time; or (iii) an obligation to provide collateral to secure any of the foregoing types of obligations.

  • Relevant Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of Islamic-compliant certificates, whether or not in return for consideration of any kind, which for the time being are, or are intended to be, or are capable of being, quoted, listed or ordinarily dealt in or traded on any stock exchange, over-the-counter or other securities market.

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • zero-coupon obligation means a debt security that does not expressly provide for the accrual of interest, and includes the former component parts of a debt security that did expressly provide for the accrual of interest if that component part does not itself expressly provide for the accrual of interest.

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Secured Recourse Indebtedness means the portion of Secured Indebtedness that is not Non-Recourse Debt.

  • Unsecured Shorter-Term Indebtedness means, collectively, (a) any Indebtedness of the Borrower or any Subsidiary that is not secured by any assets of any Obligor and that does not constitute Unsecured Longer-Term Indebtedness and (b) any Indebtedness that is designated as “Unsecured Shorter-Term Indebtedness” pursuant to Section 6.11(a).

  • Compliance Obligations means obligations of the AMC to comply with: (a) laws or international guidance and internal policies or procedures, (b) any demand or request from authorities or reporting, disclosure or other obligations under laws, and (c) laws requiring us to verify the identity of our customers.

  • Attributable Receivables Indebtedness at any time shall mean the principal amount of Indebtedness which (i) if a Permitted Receivables Facility is structured as a secured lending agreement, constitutes the principal amount of such Indebtedness or (ii) if a Permitted Receivables Facility is structured as a purchase agreement, would be outstanding at such time under the Permitted Receivables Facility if the same were structured as a secured lending agreement rather than a purchase agreement.

  • Parity Obligation means any instrument or other obligation issued or entered into by the Issuer that constitutes or qualifies as Additional Tier 1 Capital (or its equivalent) under applicable Capital Regulations or any instrument or other obligation issued, entered into, or guaranteed by the Issuer that ranks or is expressed to rank pari passu with the Capital Securities by operation of law or contract, which for the avoidance of doubt, excludes any Junior Obligations of the Issuer.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • Fixed Rate Obligation Any Collateral Obligation that bears a fixed rate of interest.

  • Collateral Interest Amount As of any date of determination, without duplication, the aggregate amount of Interest Proceeds that has been received or that is expected to be received (other than Interest Proceeds expected to be received from Defaulted Obligations, but including Interest Proceeds actually received from Defaulted Obligations), in each case during the Collection Period in which such date of determination occurs (or after such Collection Period but on or prior to the related Payment Date if such Interest Proceeds would be treated as Interest Proceeds with respect to such Collection Period).