Mandatory Interest Deferral Date definition

Mandatory Interest Deferral Date means each Interest Payment Date in respect of which a Regulatory Deficiency Interest Deferral Event has occurred and is continuing or would occur if payment of interest was made on such Interest Payment Date;

Mandatory Interest Deferral Date means each Interest Payment Date in respect of which a Mandatory Deferral Event has occurred and is continuing;

Mandatory Interest Deferral Date means each Interest Payment Date in respect of which a Regulatory Deficiency Interest Deferral Event has occurred and is continuing or would occur if payment of interest (in whole or in part) were made on such Interest Payment Date;

Examples of Mandatory Interest Deferral Date in a sentence

• Optional Interest Payment Date means any Interest Payment Date other than a Compulsory Interest Payment Date or a Mandatory Interest Deferral Date.

• Payment of interest on the Notes will be mandatorily deferred on each Mandatory Interest Deferral Date.

• Arrears of Interest may, at the option of the Issuer, be paid in whole or in part at the next Interest Payment Date which is not a Mandatory Interest Deferral Date.

• Mandatory Interest Deferral Date means each Interest Payment Date in respect of which the Noteholders and the Principal Paying Agent have received written notice from the Issuer pursuant to sub-paragraph (v) below confirming that (i) a Regulatory Deficiency has occurred and such Regulatory Deficiency is continuing on such Interest Payment Date or (ii) the payment of such interest would in itself cause a Regulatory Deficiency.

• The Issuer will on any Mandatory Interest Deferral Date by notice to the Bond Trustee (together with a certificate signed by authorised signatories of the Issuer confirming the relevant Interest Payment Date is a Mandatory Interest Deferral Date) defer payment of all (but not only some) of the Interest accrued but unpaid to that date.

More Definitions of Mandatory Interest Deferral Date

Mandatory Interest Deferral Date means each Interest Payment Date (or for the purposes only of Condition 4(c) (Arrears of Interest) each date) in respect of which a Regulatory Deficiency Interest Deferral Event has occurred and is continuing or would occur if payment of interest was made on such Interest Payment Date.

Mandatory Interest Deferral Date means each Interest Payment Date in respect of which the Fiscal Agent has received written notice from the Issuer confirming that (i) a Regulatory Deficiency has occurred and such Regulatory Deficiency is continuing on such Interest Payment Date or (ii) the Interest Payment (and, if relevant, any Arrears of Interest and Additional Interest Amounts thereon) would itself cause a Regulatory Deficiency, provided, however, that the relevant Interest Payment Date will not be a Mandatory Interest Deferral Date in relation to such Interest Payment (or such part thereof) if:

Mandatory Interest Deferral Date means each Interest Payment Date (or, in respect of Arrears of Interest, the date of payment thereof) in respect of which the Noteholders and the Principal Paying Agent have been notified by the Issuer pursuant to sub-paragraph (iii) of Condition 5.6 below confirming that (i) a Regulatory Deficiency has occurred and such Regulatory Deficiency is continuing on such Interest Payment Date or (ii) the payment of such interest (and, if relevant, any Arrears of Interest) would in itself cause a Regulatory Deficiency. However, the relevant Interest Payment Date will not be a Mandatory Interest Deferral Date if all the following conditions are met:

Mandatory Interest Deferral Date means each Interest Payment Date (i) in respect of which a Regulatory Deficiency Interest Deferral Event has occurred and is continuing or would occur if payment of interest was made on such Interest Payment Date or (ii) where payment of interest on that date would breach the provisions of Solvency II and/or the Relevant Rules which apply to Tier 2 Capital;

Mandatory Interest Deferral Date means each Interest Payment Date prior to which a Mandatory Interest Deferral Event has occurred and where such Mandatory Interest Deferral Event is continuing on such Interest Payment Date.

Mandatory Interest Deferral Date means each Interest Payment Date in respect of which a Regulatory Deficiency is continuing on such Interest Payment Date, or such interest payment (and, if relevant, any Arrears of Interest) would itself cause a Regulatory Deficiency; provided,however, that the relevant Interest Payment Date will not be a Mandatory Interest Deferral Date in relation to such interest payment and, if relevant, Arrears of Interest (or such part thereof) if, cumulatively:

Mandatory Interest Deferral Date means each Interest Payment Date in respect of which the Noteholders and the Fiscal Agent have been notified by the Issuer that a Regulatory Deficiency has occurred and such Regulatory Deficiency is continuing on such Interest Payment Date, or such interest payment (and, if relevant, any Arrears of Interest) would itself cause a Regulatory Deficiency provided, however, that the relevant Interest Payment Date will not be a Mandatory Interest Deferral Date in relation to such interest payment (or such part thereof), to the extent permitted under, and in accordance with the Solvency II Directive and the Applicable Supervisory Regulations, if cumulatively: