Parity Instruments definition

Parity Instruments means securities, instruments or obligations of the Issuer which in case of a Liquidation Event occurring prior to the Trigger Event rank, or are expressed to rank, pari passu with the Capital Securities, including the Existing Capital Instruments.

Parity Instruments. ’ means, with respect to an Obligor, (i) the most senior ranking perpetual non-cumulative preferred or preference shares that have equivalent financial

Parity Instruments. ’ means, with respect to an Obligor, (i) the most senior ranking perpetual non-cumulative preferred or preference shares that have equivalent financial terms as the Loan Notes and which are issued directly by such Obligor (‘‘Parity Shares’’), if any, (ii) guarantees by such Obligor (whether through an agreement or instrument labelled as a guarantee, as a support agreement, or with some other name but with an effect similar to a guarantee or support agreement) of preferred or preference shares issued

Examples of Parity Instruments in a sentence

• If, upon any such winding-up, liquidation or bankruptcy, the assets available for repayment are insufficient to pay in full the amounts payable with respect to the Notes and any other Parity Instruments and/or Parity Guarantee, the Noteholder and the holders of such Parity Instruments and Parity Guarantee will share rateably in any such distribution of surplus assets of the Issuer in proportion to the full respective amounts to which they are entitled.

• Issuer: ING Groep N.V. (“ING”) Securities: Perpetual Additional Tier 1 Contingent Convertible Capital Securities (the “Securities”) Principal Amount: U.S.$1,000,000,000 Status: Direct, unsecured and subordinated obligations, ranking pari passu without any preference among themselves and with all Parity Instruments of the Issuer, subordinated to Senior Instruments of the Issuer.

More Definitions of Parity Instruments

Parity Instruments means (i) any preferred or preference shares of the Issuer expressed to rank pari passu with the Bonds ("Parity Shares"), if any, (ii) guarantees by the Issuer (whether through an agreement or instrument labelled as a guarantee, as a support agreement, or with some other name but with an effect similar to a guarantee or support agreement) of preferred securities or preferred or preference shares issued by any of the Issuer's subsidiaries and expressed to rank pari passu with the Parity Shares, if any, and (iii) any of the Issuer's existing or future unsecured and subordinated obligations expressed to rank pari passu with the Issuer's obligations under the Bonds.

Parity Instruments means any securities, obligations and other instruments which are (i) directly issued by UBS AG (excluding Junior Instruments), or (ii) issued by any subsidiaries of UBS AG (and entitled to the benefit of a guarantee or support agreement or similar undertaking of UBS AG that ranks equally with the guarantees issued by UBS AG in relation to Tier 1 Securities), and in each case qualify as Tier 1 Capital of the Issuer (without regards to quantitative limits), pursuant to Swiss banking laws and regulations;

Parity Instruments means any securities, obligations and other instruments which are (i) directly issued by the Guarantor (excluding Junior Instruments), or (ii) issued by any subsidiaries of the Guarantor (and entitled to the benefit of a guarantee or support agreement or similar undertaking of the Guarantor that ranks equally with the guarantees issued by the Guarantor in relation to Tier 1 Securities), and in each case qualify as Tier 1 Capital of the Issuer (without regards to quantitative limits), pursuant to Swiss banking laws and regulations;