Examples of Ordinary Subordinated Obligations in a sentence
Ordinary Subordinated Obligations has the meaning ascribed to it in Condition 3(b)(i)(y) above; Senior Subordinated Obligations has the meaning ascribed to it in Condition 3(b)(i)(y) above.
Ordinary Subordinated Obligations means obligations, whether in the form of notes or otherwise, the principal and interest of which constitute direct, unconditional, unsecured and subordinated obligations of the Issuer and rank and will rank pari passu among themselves and pari passu with all other present or future ordinary subordinated obligations, behind Unsubordinated Obligations but in priority to prêts participatifs, if any, and deeply subordinated obligations.
The obligations of the Guarantor under the Subordinated Guarantee constitute direct, unsecured and subordinated obligations of the Guarantor and rank and will rank pari passu among themselves and pari passu with all other present and future Parity Securities of the Guarantor but shall be subordinated to Ordinary Subordinated Obligations and to Unsubordinated Obligations of, or issued by, the Guarantor.
Upon the date of redemption or repurchase and cancellation of all of the Existing Ordinary Subordinated Obligations (inclusive) (the Existing Ordinary Subordinated Obligation Redemption Event), Condition 3(a)(ii) will automatically replace and supersede paragraph (i) in respect of the Notes without the need for any action from the Issuer or consent from any Noteholder.
As of the date of issue of the Notes, the Relevant Supervisory Authority is the Autorite´ de Controˆle des Assurances et des Mutuelles (ACAM).Unsubordinated Obligations means, in relation to the Issuer or any Relevant Affiliated Entity, any Obligations of such person which are unsubordinated and rank in priority to any Ordinary Subordinated Obligations of such person.