Parity Write Down Instruments definition

Parity Write Down Instruments means obligations (other than the Loan) incurred directly or indirectly by the Borrower which (a) in the case of a Bankruptcy Event rank or are expressed to rank pari passu with the Loan; (b) are subordinated debt which qualifies as 395-P Tier 2 Capital of the Borrower and (c) contain a similar cancellation or write-down mechanisms (whether or not those mechanisms also provide for subsequent write-up or reinstatement of such obligations) which are triggered upon the occurrence of the same events as those which trigger Interest Cancellation or Write Down in respect of the Loan;
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Parity Write Down Instruments means obligations (other than the Loan) incurred directly or indirectly by Gazprombank (a) claims in respect of which constitute claims of creditors of Gazprombank that are subordinated so as to rank pari passu with the claims of the Lender, (b) which contain a similar cancellation or write-down mechanism (whether or not that mechanism also provides for subsequent write-up or reinstatement of such obligations) which is triggered upon the occurrence of the same event as that which triggers Interest Cancellation or Write Down in respect of the Loan and (c) which qualifies as 395-P Tier 2 Capital.
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Parity Write Down Instruments means obligations (other than the Loan) incurred directly or indirectly by Transcapitalbank which (a) in the case of a Bankruptcy Event rank or are expressed to rank pari passu with the Loan; (b) are subordinated debt which qualifies as 395-P Tier 2 Capital of Transcapitalbank and (c) contain similar cancellation or write-down mechanisms or contain other termination (conversion or exchange) mechanisms, in each case which are triggered upon the occurrence of the same events as those which trigger the Write Down Measures in respect of the Loan.
Sample 1

Examples of Parity Write Down Instruments in a sentence

  • The accrued interest may only be Cancelled by the Borrower pro rata with interest on other Parity Write Down Instruments.

  • A Write Down Event may occur on more than one occasion and the interest on the Loan may be Cancelled and the principal amount of the Loan may be Written Down on more than one occasion.The principal amount of the Loan may only be Written Down by the Borrower pro rata with other Parity Write Down Instruments.

  • A Write Down Event may occur on more than one occasion and the interest on the Loan may be Cancelled and the principal amount of the Loan may be Written Down on more than one occasion.The principal amount of the Loan may only be Written Down by Gazprombank pro rata with other Parity Write Down Instruments.

  • The accrued interest may only be Cancelled by Gazprombank pro rata with interest on other Parity Write Down Instruments.

  • The principal amount of the Loan may only be Written Down by the Borrower pro rata with other Parity Write Down Instruments.

  • To the extent that there are any Parity Write Down Instruments included in 646-P Tier 2 Capital, the Borrower's obligations under the Subordinated Loan and such Parity Write Down Instruments shall be terminated and/or exchanged or converted in an aggregate amount (volume of subordinated note issues (if any)) required to improve the Borrower's capital adequacy ratios such that the Base Capital Adequacy Ratio of the Borrower becomes not less than 2 per cent.

  • The Outstanding Principal Amount of the Subordinated Loan will only be written down by the Borrower pursuant to Clause 8.1 pro rata with other Parity Write Down Instruments.

  • Any penalties and accrued interest in respect of the Subordinated Loan will only be cancelled by the Borrower pursuant to Clause 8.1 pro rata with penalties and accrued interest on other Parity Write Down Instruments.

  • The penalties and the accrued interest will only be cancelled by Transcapitalbank pro rata with penalties and accrued interest on other Parity Write Down Instruments.

Related to Parity Write Down Instruments

  • Tier 1 Instruments means any and all (i) securities or other obligations (other than Tier 1 Shares) issued by UBS Group AG or (ii) shares, securities, participation securities or other obligations (other than Tier 1 Shares) issued by a subsidiary of UBS Group AG and having the benefit of a guarantee, credit support agreement or similar undertaking of UBS Group AG, each of which shares, securities, participation securities or other obligations described in clauses (i) and (ii) of this definition qualify, or are issued in respect of a security that qualifies, as Tier 1 Capital of the Group and/or UBS Group AG (without regard to quantitative limits on such capital) on a consolidated (Finanzgruppe) or on an unconsolidated (Einzelinstitut) basis.

  • Trade Instruments means any performance bonds, advance payment bonds or documentary letters of credit issued in respect of the obligations of any member of the Group arising in the ordinary course of trading of that member of the Group.

  • Secured Debt Agreements means and include this Agreement, the other Credit Documents and the Interest Rate Protection Agreements and Other Hedging Agreements.

  • Endorsement contract means an agreement under which a student athlete is employed or receives consideration to use on behalf of the other party any value that the student athlete may have because of publicity, reputation, following, or fame obtained because of athletic ability or performance.

  • Security Instruments means, collectively, (a) the Mortgages, (b) the Transfer Letters, (c) the Pledge Agreements, (d) the Security Agreements, (e) each other agreement, instrument or document executed at any time in connection with the Pledge Agreements, the Security Agreements, or the Mortgages, (f) each agreement, instrument or document executed in connection with the Cash Collateral Account; and (g) each other agreement, instrument or document executed at any time in connection with securing the Obligations.

  • Secured Debt Documents means the Parity Lien Documents and the Priority Lien Documents.

  • Mortgage Instruments means such title reports, title insurance, opinions of counsel, surveys, appraisals and environmental reports as are requested by, and in form and substance reasonably acceptable to, the Administrative Agent from time to time.

  • Tier 2 Instruments means at any time tier 2 instruments as interpreted and applied in accordance with the Applicable Banking Regulations;

  • Subordinated Debt Documents means any documents evidencing and/or securing Debt governed by a Subordination Agreement, all of which documents must be in form and substance acceptable to Agent in its sole discretion. As of the Closing Date, there are no Subordinated Debt Documents.

  • Mortgage Supporting Documents means, with respect to a Mortgage for a parcel of Real Property, each the following:

  • Alternative modes of instruction means modes of pupil instruction, other than in-person instruction, that may include, without limitation, partnerships with other districts or intermediate districts or community colleges or institutions of higher education, use of vendors, use of online learning, telephone communications, email, virtual instruction, videos, slideshows, project-based learning, use of instructional packets, or a hybrid of multiple modes of learning that still promote recommended practices for social distancing to mitigate the spread of COVID-CD.

  • Necessary Endorsement means undated stock powers endorsed in blank or other proper instruments of assignment duly executed and such other instruments or documents as the Agent (as that term is defined below) may reasonably request.

  • Second Lien Security Agreement means the “Security Agreement” as defined in the Second Lien Credit Agreement.

  • Existing Mortgages means any mortgage, deed of trust or deed delivered pursuant to the Existing Credit Agreement including any amendments, modifications, restatements or assignments thereof.

  • Transaction Instruction means a written order signed by the holder or CDS, entitled to request that one or more actions be taken, or such other form as may be reasonably acceptable to the Warrant Agent, requesting one or more such actions to be taken in respect of an Uncertificated Warrant;

  • Underlying Instruments The loan agreement, credit agreement, indenture or other agreement pursuant to which a Loan or Permitted Investment has been issued or created and each other agreement that governs the terms of or secures the obligations represented by such Loan or Permitted Investment or of which the holders of such Loan or Permitted Investment are the beneficiaries.

  • Operating Instructions means the operating procedures, steps, and instructions for the operation of the Interconnection Facilities established from time to time by the Coordination Committee or the PJM and NYISO individual procedures and processes and includes changes from time to time by the Coordination Committee to such established procedures, steps and instructions exclusive of the individual procedures.

  • Securities, documents or other written instruments means original (including original counterparts) negotiable or non-negotiable instruments, or assignments thereof, which in and of themselves represent an equitable interest, ownership, or debt and which are in the ordinary course of business transferable by delivery of such instruments with any necessary endorsements or assignments. Definitions(continued)

  • Security Agreements means the U.S. Security Agreement and the Canadian Security Agreement.

  • Surety Instruments means all letters of credit (including standby and commercial), banker's acceptances, bank guaranties, shipside bonds, surety bonds and similar instruments.

  • Senior Loan Documents means the loan agreement between Borrower and Senior Creditor and any other agreement, security agreement, document, promissory note, UCC financing statement, or instrument executed by Borrower in favor of Senior Creditor pursuant to or in connection with the Senior Debt or the loan agreement, as the same may from time to time be amended, modified, supplemented, extended, renewed, restated or replaced.

  • Mortgages means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed and delivered by Borrower or its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral.

  • Underlying Documents means, together, the Contracts, the Refund Guarantees, the Supervision Agreements and the Management Agreements and "Underlying Document" means any of them.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Written Instructions means (i) written communications actually received by the Custodian and signed by an Authorized Person, (ii) communications by facsimile or Internet electronic e-mail or any other such system from one or more persons reasonably believed by the Custodian to be an Authorized Person.

  • Subordinated Documents means the Subordinated Note and any and all other documents, agreements, writings or instruments executed in connection therewith or pursuant thereto, in each case, as in effect on the date hereof and as amended, modified, restated or Refinanced in accordance with the terms hereof.