Not Subordinated definition
Not Subordinated means an obligation that is not Subordinated to (1) the Reference Obligation or, (2) the Prior Reference Obligation, if applicable;
Not Subordinated means an obligation that is not Subordinated to (i) the most senior Reference Obligation in priority of payment or (ii) if no Reference Obligation is specified, any unsubordinated Borrowed Money obligation of the Reference Entity. For purposes of determining whether an obligation is “Not Subordinated”, the ranking in priority of payment of each Reference Obligation shall be determined as of the later of (1) the Trade Date and (2) the date on which such Reference Obligation was issued or incurred and shall not reflect any change to such ranking in priority of payment after such later date;
Not Subordinated means an obligation that is not Subordinated to (i) the most senior Reference Obligation in priority of payment or (ii) if no Reference Obligation is specified in the Issue Terms, any unsubordinated Borrowed Money obligation of the Reference Entity; provided that, if any of the events set forth under the definition of "Substitute Reference Obligation" has occurred with respect to all of the Reference Obligations or if, pursuant to the definition of "Successor" a Substitute Reference Obligation will be determined in accordance with the definition of "Substitute Reference Obligation" with respect to the Reference Obligation (each, in each case, a "Prior Reference Obligation") and no Substitute Reference Obligation has been identified for any of the Prior Reference Obligations at the time of the determination of whether an obligation satisfies the "Not Subordinated" Obligation Characteristic or Deliverable Obligation Characteristic, as applicable, "Not Subordinated" shall mean an obligation that would not have been Subordinated to the most senior such Prior Reference Obligation in priority of payment. For purposes of determining whether an obligation satisfies the "Not Subordinated" Obligation Characteristic or Deliverable Obligation Characteristic, the ranking in priority of payment of each Reference Obligation or each Prior Reference Obligation, as applicable, shall be determined as of the date as of which the relevant Reference Obligation or Prior Reference Obligation, as applicable, was issued or incurred and shall not reflect any change to such ranking in priority of payment after such date.
Examples of Not Subordinated in a sentence
Trust Moneys Not Subordinated ...................................
Trust Moneys Not Subordinated...............................................
Trust Moneys Not Subordinated...........................................................
Trust Moneys Not Subordinated................................................................
Trust Moneys Not Subordinated........................................
More Definitions of Not Subordinated
Not Subordinated means an obligation that is not Subordinated to the Reference Obligation specified in the Reference Portfolio or, if there is no Reference Obligation specified, to any unsubordinated Borrowed Money Obligation of the Reference Entity.
Not Subordinated means an obligation that is not Subordinated to (i) the most senior Reference Obligation in priority of payment or (ii) if no Reference Obligation is specified in § 3 of the Product Data, any unsubordinated Borrowed Money obligation of the Reference Entity; provided that, if any of the events set forth under paragraph (i) of the definition of "Substitute Reference Obligation" has occurred with respect to all of the Reference Obligations or if:
Not Subordinated means an obligation that is not, as at the First Market Valuation Date, Subordinated to any unsubordinated Borrowed Money obligation of the Reference Entity. "Not Subordinated" Deliverable Obligation Characteristic will not apply to any Subordinated Reference Entity.
Not Subordinated means that the obligation which can trigger a credit event must rank equal or higher in the Reference Entity’s capital structure than the Reference Obligation in terms of priority of payment. If no Reference Obligation is specified in the Specific Terms then "Not Subordinated" refers to any of the Reference Entity's senior "Borrowed Money" obligations.
Not Subordinated means an obligation that is not Subordinated to:
Not Subordinated means an obligation that is not Subordinated to (i) the most senior Reference Obligation in priority of payment or (ii) if no Reference Obligation is specified in the Issue Terms, any unsubordinated Borrowed Money obligation of the Reference Entity. For purposes of determining whether an obligation satisfies the "Not Subordinated" Obligation Characteristic or
Not Subordinated means an obligation that is not Subordinated to (i) the most senior Reference Obligation in priority of payment or (ii) if there is no Reference Obligation, any unsubordinated Borrowed Money obligation of the Reference Entity. For the purposes of determining whether an obligation satisfies the "Not Subordinated" Obligation Characteristic, the ranking in priority of payment of each Reference Obligation shall be determined as of the later of (i) the Trade Date and