Optional Interest Payment Date means any Interest Payment Date other than a Compulsory Interest Payment Date.
Optional Interest Payment Date means any Interest Payment Date, as the case may be, other than a Compulsory Interest Payment Date.
Optional Interest Payment Date means any Interest Payment Date following the date as of which the Issuer's most recent quarterly report to the Commission disclosed that it was in breach (a "Breach") of the capital adequacy requirements of the Norwegian Ministry of Finance (or of such other Governmental Authority as shall at the time be the promulgator of such requirements) applicable to the Issuer (the "Capital AdequacyRequirements"), provided that such Interest Payment Date shall not be an Optional Interest Payment Date if, since the date of publication of such report, the Issuer has at any time been in compliance with the Capital Adequacy Requirements and will after such payment still be in such compliance and, provided further, that in the event that such report does not disclose a Breach, the relevant Interest Payment Date shall still be deemed to be an Optional Interest Payment Date if immediately after such payment there would be a Breach.
Examples of Optional Interest Payment Date in a sentence
The Issuer may elect to defer payments of interest on any interest payment date that is an Optional Interest Payment Date.
On each Optional Interest Payment Date and in accordance with its Notice of Interest Conversion, the Payee shall make the appropriate reduction to the accrued and unpaid interest as entered in its records and shall provide notice thereof to the Maker.
So long as no Event of Default has occurred, on any Optional Interest Payment Date, the Issuer may defer all or part of any payment that is due and payable in accordance with the form of face of the Global Note contained in Section 2.02 or the form of face of the Definitive Note contained in Section 2.03.
The Issuer must pay interest on each Compulsory Interest Payment Date and may elect to defer interest on any Optional Interest Payment Date.
Any interest on this Subordinated Note which is payable, but is not punctually paid or duly provided for, on any Optional Interest Payment Date shall constitute "ARREARS OF INTEREST".
More Definitions of Optional Interest Payment Date
Optional Interest Payment Date means any Interest Payment Date in respect of which:
Optional Interest Payment Date means any Interest Payment Date other than a Compulsory Interest Payment Date, including in particular, without limitation, any Interest Payment Date if at the Assemblée Générale Ordinaire of the shareholders of the Issuer immediately preceding such date which was required to approve the annual accounts of the Issuer for the fiscal year then ended, no resolution was passed to pay a dividend on any class of share capital of the Issuer in respect of such previous fiscal year.
Optional Interest Payment Date means any Interest Payment Date where:
Optional Interest Payment Date means any Interest Payment Date, as the case may be, other than a Compulsory Interest Payment Date.It is expected that, in the case of Undated Subordinated Notes the proceeds of which count as Tier 1 Capital, interest not paid on an Optional Interest Payment Date shall be lost. It is also expected that, in the case of Undated Subordinated Notes the proceeds of which count as Tier 2 Capital, interest not paid on an Optional Payment Date shall constitute Arrears of Interest.
Optional Interest Payment Date means any Interest Payment Date on which the Issuer does not satisfy the solvency requirements of the Danish Financial Business Act;
Optional Interest Payment Date means any Interest Payment Date in respect of which during the six month period ending thereon (a) no dividend has been declared or paid on any class of share capital of ZIG; (b) no repurchase or acquisition of any class of share capital of ZIG has been made; and (c) no interest, distribution or other payments (including payment for the purpose of a redemption or repurchase) have been made (i) on any securities issued (or guaranteed) by ZIC and the claims in respect of such securities (or, as applicable, guarantee) rank junior to, or pari passu with, the claims of holders of the Subordinated Notes, if this is a Subordinated Note, or Deeply Subordinated Notes, if this is a Deeply Subordinated Note; or (ii) on any securities issued or guaranteed by ZIG (any such payments in (a), (b) and (c) together, “Junior and Pari Passu Payments”) (provided at the relevant time the existence of this requirement (c) does not cause a Regulatory Event); (unless, in each case, such payment was (i) required to be made pursuant to the terms of such securities or required due to the repayment of such securities or (ii) an Excepted Event);
Optional Interest Payment Date means each Interest Payment Date in respect of which no Compulsory Interest Payment Event occurred during the six months before the relevant Interest Payment Date, and in respect of which no Compulsory Deferral Event has occurred and is continuing.