Examples of Obligation Category in a sentence
For purposes of Section 3.2(a) (Valuation Obligation), the term "Valuation Obligation" may be defined as each obligation of the Reference Entity described by the Valuation Obligation Category specified as being applicable in the Standard, and, subject to Section 3.15 (Interpretation of Provisions), having each of the Valuation Obligation Characteristics, if any, specified as being applicable in the Standard, in each case, as of the Valuation Date (unless otherwise specified).
If “Cash Redemption” applies with respect to the Credit Linked Notes (which will be the case when Auction Redemption is not possible), the Calculation Agent will value the Reference Obligation or any other obligation of the Reference Entity fulfilling certain criteria including the Deliverable Obligation Category and Deliverable Obligation Characteristics by asking for Quotations from Quotation Dealers.
If Cash Redemption applies with respect to the Credit Linked Notes (which will be the case when Auction Redemption is not possible), the Calculation Agent will value the Reference Obligation or any other obligation of the Reference Entity fulfilling certain criteria including the Deliverable Obligation Category and Deliverable Obligation Characteristics by asking for Quotations from Quotation Dealers.
Valuation Obligation Category: The Deliverable Obligation Category under the Standard Terms.
For purposes of Section 2.15, the term "Deliverable Obligation" may be defined as each direct obligation of each Reference Entity that (i) is described by the Deliverable Obligation Category specified in the related Confirmation; (ii) has each of the Deliverable Obligation Characteristics, if any, specified in the related Confirmation and (iii) satisfies the other requirements set out at Section 2.15, in each case, as of the Delivery Date.