Loss Absorbing Instrument definition

Loss Absorbing Instrument means, at any time, any Additional Tier 1 Capital instrument (other than the Notes) issued directly or indirectly by the Issuer which contains provisions pursuant to which all or part of its principal amount may be written-down (whether on a permanent or temporary basis) or may otherwise absorb losses (in each case in accordance with its terms) on the occurrence, or as a result, of a trigger event set by reference to the Group CET1 Ratio;

Loss Absorbing Instrument means an Equal Loss Absorbing Instrument and/or a Prior Loss Absorbing Instrument, as applicable.

Loss Absorbing Instrument means at any time any instrument (other than the Notes and the Issuer Shares) issued directly or indirectly by the Issuer which at such time (a) qualifies as Tier 1 Capital of the Group; and (b) which also has all or some of its principal amount written-down or converted into Common Equity Tier 1 Instruments (in accordance with its conditions or otherwise) on the occurrence, or as a result, of a Capital Ratio Event;

Examples of Loss Absorbing Instrument in a sentence

• Any Loss Absorbing Instrument that may be written down or converted to shares and other instruments of ownership in full but not in part (save for any one cent floor) shall be treated as if its terms permitted partial write-down or conversion into shares and other instruments of ownership, only for the purposes of determining the relevant pro rata amounts in the operation of Write-Down and calculation of the Write-Down Amount.

• For the avoidance of doubt, to the extent that the write-down or conversion of any Loss Absorbing Instruments is not effective for any reason (i) the ineffectiveness of any such write- down or conversion shall not prejudice the requirement to effect a Write-Down of the Notes, and (ii) the write-down or conversion of any Loss Absorbing Instrument which is not effective shall not be taken into account in determining the Write-Down Amount of the Notes.

• To the extent that the write-down or conversion of any Loss Absorbing Instrument is not effective for any reason, (i) such ineffectiveness shall not prejudice the requirement to effect a write-down of these Notes; and (ii) the write-down or conversion of any Loss Absorbing Instrument that is not effective shall not be taken into account in determining the Write-Down Amount of these Notes.

• In the event of a concurrent write-down of any other AT1 Loss Absorbing Instrument (if any), the pro rata write-down and/or conversion into equity of such AT1 Loss Absorbing Instrument shall only be taken into account to the extent required to restore the Group CET1 Ratio to the lower of (A) such AT1 Loss Absorbing Instrument's trigger level and (B) 5.125 per cent., in each case, in accordance with the terms of such AT1 Loss Absorbing Instrument and the Capital Regulations.

• To the extent the prior write-down or other loss absorption of any Prior Loss Absorbing Instrument or write-down or other loss absorption of any Similar Loss Absorbing Instrument for the purposes of paragraphs (a) and (b) above is not possible for any reason, this shall not in any way impact on any Write-Down of the Notes.

More Definitions of Loss Absorbing Instrument

Loss Absorbing Instrument means at any time any instrument (other than the Notes) issued directly or indirectly by the Issuer which at such time (i) qualifies as Additional Tier 1 Capital of the Issuer and (ii) which is subject to utilization and conversion into equity or utilization and write-down (as applicable) of the Outstanding Principal Amount thereof (in accordance with its terms or otherwise) on the occurrence, or as a result, of the CET1 Ratio falling below a specified level;

Loss Absorbing Instrument means any security or other instrument or payment obligation that has provision for all or some of its principal amount to be reduced and/or converted into equity (in accordance with its terms or otherwise) on the occurrence or as a result of a Non-Viability Event (which shall not include ordinary shares or any other instrument that does not have such provision in its terms or otherwise but which is subject to any Statutory Loss Absorption Measure).

Loss Absorbing Instrument means, in respect of a Series of Additional Tier 1 Notes, at any time any instrument (other than the Additional Tier 1 Notes of such Series) issued directly or indirectly by the Bank or, as applicable, any other member of the Handelsbanken Group (i) which at such time qualifies as Additional Tier 1 Capital of either the Bank or the Handelsbanken Group (as the case may be) and (ii) which is subject to write down or conversion (as applicable) of the outstanding principal amount thereof (in accordance with its terms or otherwise) on the occurrence, or as a result, of the Common Equity Tier 1 Capital Ratio of either the Bank or the Handelsbanken Group (as the case may be) falling below a specified level;

Loss Absorbing Instrument means, at any time, any AT 1 Instrument (other than the Notes) that may have all or some of its principal amount written down (whether on a permanent or temporary basis) or converted (in each case, in accordance with its terms or otherwise) on the occurrence or as a result of the Issuer CET 1 Capital Ratio and/or the Group CET 1 Capital Ratio falling below a certain trigger level.

Loss Absorbing Instrument means at any time any instrument (other than the Additional Tier 1 Temporary Write-Down Notes) issued directly or indirectly by the Issuer which at such time (a) qualifies as Additional Tier 1 Capital of either the Issuer or the Group and (b) which is subject to utilisation and conversion or utilisation and write down (as applicable) of the outstanding nominal value thereof (in accordance with its terms or otherwise) on the occurrence, or as a result, of the relevant CET1 Ratio falling below a specified level.

Loss Absorbing Instrument means, at any time, any instrument (other than the Notes) issued directly or indirectly by the Bank or any other member of the DNB Group which has terms pursuant to which all or some of its principal amount may be written-down (whether on a permanent or temporary basis) or converted into equity (in each case in accordance with its conditions) on the occurrence, or as a result, of a trigger set by reference to the relevant CET1 Ratio(s) falling below a specific threshold (and shallinclude, for so long as any of the same remain outstanding, the U.S.$750,000,000 Fixed Rate Reset Perpetual Additional Tier 1 Capital Notes issued by the Bank (ISIN: XS1207306652), the NOK1,400,000,000 Floating Rate Perpetual Additional Tier 1 Capital Notes issued by the Bank (VPS identification number NO0010767957), the U.S.$750,000,000 Fixed Rate Reset Perpetual Additional Tier 1 Capital Notes issued by the Bank (ISIN: XS1506066676) and, in the context of a relevant trigger event which occurs in respect of the Bank and/or the Bank Group CET1 Ratio only, the NOK2,150,000,000 Floating Rate Perpetual Additional Tier 1 Capital Notes issued by the Bank (VPS identification number NO0010730708));

Loss Absorbing Instrument means any security or other instrument or payment obligation that has provision for all or some of its principal amount to be reduced and/or converted into equity (in accordance with its terms or otherwise) on the occurrence or as a result of a Non- Viability Event (which shall not include ordinary shares or any other instrument that does not have such provision in its terms or otherwise but which is subject to any Statutory Loss Absorption Measure),