Loss Absorbing Instruments definition

Loss Absorbing Instruments means, at any time, any instrument (other than the Securities) issued directly or indirectly by the Issuer which qualifies as Additional Tier 1 Capital of the Issuer on a consolidated basis and 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 the Consolidated CET1 Ratio falling below a certain trigger level.

Loss Absorbing Instruments means any notes, securities or other instruments issued or entered into, by the Issuer or a Subsidiary that constitute LAC debt instruments under the Loss Absorbing Capacity Rules.

Loss Absorbing Instruments means capital instruments or other obligations of any company within the Consolidated Situation (other than the Notes), which include a principal loss absorption mechanism that is capable of generating CET1 Capital and that is activated by a trigger event set by reference to the CET1 Ratio.

Examples of Loss Absorbing Instruments in a sentence

• 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.

• Following a reduction of the Outstanding Principal Amounts in accordance with Condition 7.1, the Issuer may, at its discretion, reinstate some or all of the principal amount of the Notes, subject to compliance with the CRD IV requirements and the Reinstatement Limit, on a pro rata basis with all other Parity Trigger Loss Absorbing Instruments (if any) which would, following such reinstatement, constitute Additional Tier 1 Capital and feature similar write down and reinstatement provisions.

• If the amount by which the Prevailing Outstanding Amount is written down, when taken together with the write-down of any other Loss Absorbing Instruments, is insufficient to cure the Trigger Event, the Prevailing Outstanding Amount of the Notes will be written-down substantially (or nearly entirely).

• A reinstatement in accordance with this Clause 10.2 (Reinstatement of the Notes) shall be made taking into account any preceding or imminent reinstatement of corresponding or similar Loss Absorbing Instruments including but not limited to Additional Tier 1 Capital instruments (other than the Notes).

• The Issuer will also procure that a similar notice is, or has been given in respect of other Loss Absorbing Instruments.

More Definitions of Loss Absorbing Instruments

Loss Absorbing Instruments means capital instruments or other obligations of the Issuer (other than the Notes) which include a principal loss absorption mechanism that is capable of generating CET1 Capital and that is activated by a trigger event set by reference to the CET1 ratio of the Issuer and/or the CET1 ratio of the Issuer Consolidated Situation.

Loss Absorbing Instruments means capital instruments or other obligations issued directly or indirectly (if any) by any member of the Group (other than the Securities) which qualify as Additional Tier 1 Capital of the Group and which include a principal loss absorption mechanism that is capable of generating Common Equity Tier 1 Capital and that is activated by a trigger event set by reference to the CET1 Ratio;

Loss Absorbing Instruments means capital instruments or other obligations of the Bank (other than the Securities) and which include a principal loss absorption mechanism that is capable of generating Common Equity Tier 1 Capital and that is activated by a trigger event set by reference to the CET1 Ratio of the Bank and/or the CET1 Ratio of the Group;

Loss Absorbing Instruments 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 Instruments means at any time any instruments or trust certificates that are outstanding at the time of such Write-down (other than the Certificates and the Ordinary Shares) issued directly or indirectly by the Mudareb which at such time (a) are Pari Passu Obligations and qualify as Tier 1 Capital of the Bank; and (b) also provide for all or some of their principal amount to be written-down (in accordance with their conditions or otherwise) on the occurrence, or as a result, of a Non-Viability Event or substantially similar event; and Tier 2 Capital means capital qualifying as, and approved by the Regulator as, tier 2 capital in accordance with the Capital Regulations.

Loss Absorbing Instruments means at any time any obligation or instrument (other than the Notes) of the Issuer which include a loss absorption mechanism that is activated by an equivalent to the Trigger Event in all material respects and/or has a different threshold for such activation and has been activated on or prior to the relevant Trigger Event;

Loss Absorbing Instruments means capital instruments or other obligations issued directly or indirectly by the Issuer or, as applicable, any other member of the Group (other than the Notes or any share capital of the Issuer or any member of the Group) which constitute Tier 1 Capital of the Issuer and/or the Group and which include a write-down or conversion principal loss absorption mechanism that is activated by a trigger event set by reference to the Solvency Capital Requirement and/or Minimum Capital Requirement of the Issuer and/or the Group.