Examples of M(M)R Restructuring in a sentence
As used herein, " Remaining Credit Position" means, in respect of each Reference Entity in respect of which M(M)R Restructuring is specified as being applicable, at any time, the initial Credit Position of such Reference Entity, less the aggregate of all Exercise Amounts (if any) in respect of such Reference Entity.
For all the purposes hereof, insofar as the Remaining Credit Position of any Reference Entity in respect of which M(M)R Restructuring is specified as being applicable is, at any time, greater than zero, such Reference Entity shall be treated as a non-Defaulted Credit.
The M(M)R Restructuring Credit Event relates to a Mod R or Mod Mod R Restructuring Credit Event.
This mirrors the right the Swap Counterparty would have under a credit default swap to trigger partial settlement of the credit default swap following an M(M)R Restructuring Credit Event and related Event Determination Date.
Each such Credit Event Notice must specify the amount of the Floating Rate Payer Calculation Amount of the Reference Entity to which such Credit Event Notice applies (the “Exercise Amount”), which shall be equal to the Floating Rate Payer Calculation Amount unless the relevant Credit Event is an M(M)R Restructuring.
The term " Relevant Restructuring Credit Event" means, in respect of a 2003-type CDS Contract, any Restructuring and, in respect of a 2014-type CDS Contract, an M(M)R Restructuring.
For all the purposes hereof, insofar as the Remaining Credit Position of any Reference Entity in respect of which M(M)R Restructuring is specified as being applicable is, at any time, greater than zero, such Reference Entity shall be treated as a non-Defaulted Credit.Section 1.34.
The Calculation Agent may make such modifications to the terms of this Transaction as it considers in its sole and absolute discretion necessary to preserve the economic effects of this Transaction after any Multiple Successor Credit Event or M(M)R Restructuring Credit Event in respect of which the Exercise Amount is less than the Floating Rate Payer Calculation Amount under the Credit Default Swap.
The Calculation Agent may make such modifications to the terms of this Transaction as it considers necessary in its sole discretion to preserve the economic effects of this Transaction after any multiple Successor event or M(M)R Restructuring Credit Event in respect of which the Exercise Amount is less than the Floating Rate Payer Calculation Amount under the Credit Default Swap.Terms used in this paragraph 7(a) and not defined herein shall have the meanings given to such terms in the Credit Default Swap.
Subject as provided below and in section 1.33 (Credit Event Notice after M(M)R Restructuring) of the Credit Annex, if the Maturity Date has been determined pursuant to sub-paragraph (ii) of the definition of "Maturity Date" in Part A above, Physical Settlement shall apply and, for the purposes of General Condition 5.6(b) (Final Redemption) and paragraph 17 of the Pricing Supplement (subject to Partial Cash Settlement below), no Final Redemption Amount shall be paid in respect of the Security.