Offsetting CDS definition

Offsetting CDS means an unfunded credit default swap, which complies with the provisions of the Investment Management Agreement which apply to Offsetting CDS, entered into between the Issuer (as protection buyer) and an Offsetting CDS Counterparty (as protection seller), under an ISDA Master Agreement (Multicurrency Cross Border Currency) or 2002 ISDA Master Agreement (or such other ISDA pro forma Master Agreement as may be published by ISDA from time to time) (together with the schedule and confirmation relating thereto, including any guarantee thereof and any credit support annex entered into pursuant to the terms thereof, and each as amended or supplemented from time to time, an "Offsetting CDS Agreement"), the Reference Obligation(s) of which is a Collateral Debt Obligation owned by the Issuer, the effect of which hedges the Issuer's credit exposure under such Collateral Debt Obligation.
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Offsetting CDS means an unfunded credit default swap, which complies with the provisions of the Investment Management Agreement which apply to Offsetting CDS, entered into between the Issuer (as protection buyer) and an Offsetting CDS Counterparty (as protection seller), under an ISDA Master Agreement (Multicurrency Cross Border Currency) or 2002 ISDA Master Agreement (or such other ISDA pro forma Master Agreement as may be published by ISDA from time to time) (together with the schedule and confirmation relating thereto, including any guarantee thereof and any credit support annex entered into pursuant to the terms thereof, and each as amended or supplemented from time to
Sample 1

Examples of Offsetting CDS in a sentence

  • No assurance can be given that the Offsetting CDS Counterparty will be able to maintain its ratings.

  • Concentration of exposure to a particular Offsetting CDS Counterparty under more than one Offsetting CDS or other Derivative Transactions may also subject the Notes to an additional degree of risk with respect to defaults by such counterparty.

  • The Issuer will be dependent upon receipt of payment from the applicable Offsetting CDS Counterparty in the event of the occurrence of a credit event in respect of the applicable Reference Obligation and will also, upon insolvency of such Offsetting CDS Counterparty, be treated as a general unsecured creditor thereof.

  • It is expected that the Initial Purchaser and/or one or more of its Affiliates, with acceptable credit support arrangements, if necessary, may act as Offsetting CDS Counterparties with respect to all or a portion of the Offsetting CDS, which may create certain conflicts of interest.

  • There is very much discussion about requests made by pupils but almost no discussion about requests brought in by the teacher.

  • In order to hedge the credit risks associated with holding Collateral Debt Obligations, the Issuer may from time to time enter into one or more Offsetting CDS, subject to compliance with the provisions of the Investment Management Agreement applicable thereto.

  • Although the Investment Manager will not perform independent credit analysis of the Offsetting CDS Counterparties on behalf of the Issuer, any such relevant Offsetting CDS Counterparty, or an entity guaranteeing such Offsetting CDS Counterparty, individually and in the aggregate, will be required to satisfy the required ratings set out under "The Portfolio – Management of the Portfolio – Offsetting CDS".

  • The Rating Agencies may downgrade any of the Notes (other than the Subordinated Notes (which are not rated)) if an Offsetting CDS Counterparty is not in compliance with the Offsetting CDS Counterparty rating requirements set out herein.

  • The Rating Agencies may downgrade any of the Notes (other than the Class F Subordinated Notes (which are not rated)) if an Offsetting CDS Counterparty is not in compliance with the Offsetting CDS Counterparty rating requirements set out herein.

  • Although the Investment Manager will not perform independent credit analysis of the Offsetting CDS Counterparties on behalf of the Issuer, any suchrelevant Offsetting CDS Counterparty, or an entity guaranteeing such Offsetting CDS Counterparty, individually and in the aggregate, will be required to satisfy the required ratings set out under "The Portfolio - Management of the Portfolio - Offsetting CDS".

Related to Offsetting CDS

  • Deferred Intercompany Transaction has the meaning set forth in Treas. Reg. Section 1.1502-13.

  • Unadjusted Benchmark Replacement means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

  • Performing Non-Cash Pay Mezzanine Investments means Performing Mezzanine Investments other than Performing Cash Pay Mezzanine Investments.

  • Peak tube potential means the maximum value of the potential difference across the x-ray tube during an exposure.

  • Deficit means an excess of liabilities and reserves of a fund over its assets.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • Transaction Category means the particular type of repurchase transaction effected hereunder, as determined with reference to the term of the transaction and the categories of Securities that constitute Eligible Securities therefor, which term shall include FICASH I Transactions, FICASH II Transactions, FICASH III Transactions, FITERM I Transactions, FITERM II Transactions, FITERM III Transactions, and such other transaction categories as may from time to time be designated by the Funds by notice to Seller, Custodian and Repo Custodian.

  • SOFR Benchmark Replacement Date means the Benchmark Replacement Date with respect to the then-current Benchmark;

  • Curative Allocation means any allocation of an item of income, gain, deduction, loss or credit pursuant to the provisions of Section 6.1(d)(xi).

  • Aggregate Remaining Net Positive Adjustments means, as of the end of any taxable period, the sum of the Remaining Net Positive Adjustments of all the Partners.

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Carried Interest means an equity interest in the Partnership issued to a Person without consideration, in the form of cash or tangible property, in an amount proportionately equivalent to that received from the Participants.

  • Remaining Net Positive Adjustments means as of the end of any taxable period, (i) with respect to the Unitholders holding Common Units or Subordinated Units, the excess of (a) the Net Positive Adjustments of the Unitholders holding Common Units or Subordinated Units as of the end of such period over (b) the sum of those Partners’ Share of Additional Book Basis Derivative Items for each prior taxable period, (ii) with respect to the General Partner (as holder of the General Partner Units), the excess of (a) the Net Positive Adjustments of the General Partner as of the end of such period over (b) the sum of the General Partner’s Share of Additional Book Basis Derivative Items with respect to the General Partner Units for each prior taxable period, and (iii) with respect to the holders of Incentive Distribution Rights, the excess of (a) the Net Positive Adjustments of the holders of Incentive Distribution Rights as of the end of such period over (b) the sum of the Share of Additional Book Basis Derivative Items of the holders of the Incentive Distribution Rights for each prior taxable period.

  • Working Capital Deficit means the amount, if any, by which the Closing Working Capital is less than the Target Working Capital.

  • Economic Capital Account Balances has the meaning set forth in Section 6.1.E.

  • Recovered tax increment value means, except as otherwise

  • Taxpayer resource transaction means a sale, purchase, lease, donation of money, goods, services, or real property, or any other transaction between a governmental entity and a private entity that provides to the private entity something of value derived from state or local tax revenue, regardless of whether the governmental entity receives something of value in return.

  • Capital Account Distribution Date and "Income Account Distribution Date" shall mean the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

  • Consolidated Senior Funded Debt means Consolidated Funded Debt that is not Subordinated Debt.

  • Defaulting Entity shall have the meaning set forth for such term in Section 6.02(a) hereof. “Deficiency Amount” shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eleven million dollars ($11,000,000.00).

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Restricted Payment Transaction means any Restricted Payment permitted pursuant to Section 409, any Permitted Payment, any Permitted Investment, or any transaction specifically excluded from the definition of the term “Restricted Payment” (including pursuant to the exception contained in clause (i) and the parenthetical exclusions contained in clauses (ii) and (iii) of such definition).

  • Capital Account Record Date and "Income Account Record Date" shall mean the "Record Dates" set forth in the "Essential Information" in the Prospectus.