Portfolio Credit Default Swap definition

Portfolio Credit Default Swap means each of the Mezzanine Portfolio Credit Default Swaps and the Equity Portfolio Credit Default Swap.
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Examples of Portfolio Credit Default Swap in a sentence

  • The Asset Swap and the Portfolio Credit Default Swap will each terminate in part (pro rata with the proportion that the Outstanding Principal Amount of the Notes being redeemed bears to the Outstanding Principal Amount of the Notes immediately prior to such redemption) if some of the Notes are redeemed prior to their Maturity Date pursuant to any provision of Condition 7 (Redemption, Purchase and Options).

  • Capitalised terms used but not defined in this Agreement have the meanings given to them in the relevant Portfolio Credit Default Swap or in the relevant PMA Confirmation.

  • On the determination of a Cash Settlement Amount (if any) under the Portfolio Credit Default Swap following the occurrence of a Credit Event in relation to a Reference Entity in the Short Portfolio, the Swap Counterparty will be deemed to satisfy its obligation to pay the related Cash Settlement Amount by virtue of its payment to the Issuer of the aggregate Outstanding Principal Amounts of the Notes pursuant to the Asset Swap on the Termination Date (as defined therein).

  • This Confirmation amends and restates the confirmation dated 15 June 2007 (the “Original Confirmation”) made between us in relation to the Portfolio Credit Default Swap Transaction relating to Coriolanus Series 71 USD 10,000,000 Credit Linked Secured Notes due 2017 issued by Party B and with effect from the date hereof theprovisions of the Original Confirmation shall cease to have effect and in lieu thereof the provisions of this Confirmation shall have effect.

  • The Portfolio Credit Default Swap is referenced to a separate Long Portfolio and may, from time to time, be referenced to a separate Short Portfolio (together the “Portfolio” in respect of such Portfolio Credit Default Swap), each consisting of Reference Entities (as defined in the Portfolio Management Agreement) (provided that, as at the Issue Date, there are no Reference Entities in the Short Portfolio).

  • Following receipt by the Verification Agent of a valid Notice of Abandoned Trade, the Verification Agent shall have no further obligations under the Swap Agreement and the Portfolio Credit Default Swap in relation to the relevant Trade Request until a new Trade Request in respect thereof is received by Verification Agent.

  • In circumstances where on the last day of an Interest Period there are one or more Undetermined Reference Entities or, in the case of an Interest Period coinciding with a Final Scheduled Period (as defined in the Portfolio Credit Default Swap), one or more Deferring Reference Entities (as each defined in Condition6.10 (Definitions)), an Interest Amount shall not be payable on the relevant Interest Payment Date (the “Scheduled Interest Payment Date”).

  • Following receipt by the Swap Counterparty of a valid Notice of Abandoned Trade, the proposed Trade will not take place and the Swap Counterparty will have no further obligations under the Swap Agreement and the Portfolio Credit Default Swap in relation to the relevant Trade Request unless and until a new Trade Request in respect thereof is received by the Swap Counterparty.

  • On each Cash Settlement Date (as defined in the Portfolio Credit Default Swap), a Partial Termination Amount may be payable by Party A to Party B or by Party B to Party A, as the case may be.

  • In the event of any early termination of the Portfolio Credit Default Swap, either party to the Portfolio Credit Default Swap may be liable to make a termination payment to the other party in an amount determined in accordance with the provisions of the Portfolio Credit Default Swap.

Related to Portfolio Credit Default Swap

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Loan Default means any event, condition or failure which, with notice or lapse of time or both, would become a Loan Event of Default.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

  • Forbearance Default means any of: (A) the occurrence of any Default or Event of Default other than the Specified Defaults, (B) the failure of Borrower or any other Designated Company to timely and strictly comply with any term, condition, covenant, agreement or other obligation set forth in this Agreement, (C) the failure of any representation or warranty made by Borrower or any other Designated Company under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other material breach of any such representation or warranty, (D) the taking of any action by Borrower or any other Designated Company to in any way repudiate or assert a defense to any Obligation under the Credit Agreement, this Agreement or any of the other Loan Documents or the assertion of any claim or cause of action against Administrative Agent, Co-Administrative Agent or any Lender relating in any way thereto, (E) the date on which Administrative Agent, in its sole discretion or at the direction of the Required Lenders, delivers to Borrower a written notice terminating the Forbearance Period, which notice may be delivered at any time upon or after the delivery of any Proposed Vendor Payment Schedule Rejection Notice (as defined below) by the Administrative Agent in accordance with Section 3(c)(ii) hereof, or (F) Borrower fails to receive Inventory purchased with a CIA Payment (as defined below) within six (6) Business Days of the making of such CIA Payment. The occurrence of any Forbearance Default shall constitute an immediate Event of Default under the Credit Agreement and other Loan Documents. Upon the termination or expiration of the Forbearance Period, the agreement of Administrative Agent, Co-Administrative Agent and each Lender hereunder to forbear from exercising its default-related rights and remedies shall immediately terminate without the requirement of any demand, presentment, protest, or notice of any kind, all of which Borrower and each other Designated Company hereby waives. Borrower and each other Designated Company further agrees that any of Administrative Agent (upon direction of the Required Lenders to the extent provided in the Credit Agreement) and each Lender may at any time after the expiration or termination of the Forbearance Period proceed to exercise any and all of its rights and remedies under any or all of the Credit Agreement, any other Loan Document and/or applicable law, all of which rights and remedies are hereby fully reserved by Administrative Agent and each Lender. Any agreement by Administrative Agent and the Lenders to extend the Forbearance Period, if any, must be set forth in writing and signed by Administrative Agent and the Lenders. Borrower and each other Designated Company acknowledges that none of Administrative Agent or any Lender has made any assurances concerning any possibility of any extension of the Forbearance Period. Borrower and each other Designated Company acknowledges and agrees that any Loan or other financial accommodation which Administrative Agent, Co-Administrative Agent or any Lender makes to or for the benefit of Borrower or any other Designated Company on or after the Forbearance Effective Date has been made by such party in reliance upon, and is consideration for, among other things, the general releases and indemnities contained in Section 5 hereof and the other covenants, agreements, representations and warranties of Borrower and each other Designated Company hereunder.

  • Note Default Interest Spread means, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii) five percent (5%).

  • Indenture Default means, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Default Under First Lien With respect to each Second Lien Loan, the related First Lien Loan related thereto is in full force and effect, and there is no default, breach, violation or event which would permit acceleration existing under such first Mortgage or Mortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration thereunder;

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Credit Support Default provisions of Section 5(a)(iii) will apply to Party A and will not apply to Party B.

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Potential Defaulting Lender means, at any time, (i) any Lender with respect to which an event of the kind referred to in the definition of “Lender Insolvency Event” has occurred and is continuing in respect of any Subsidiary of such Lender, or (ii) any Lender that has notified, or whose Lender Parent or a Subsidiary thereof has notified, the Administrative Agent, the Borrower or any LC Issuing Bank in writing, or has stated publicly, that it does not intend to comply with its funding obligations generally under other loan agreements, credit agreements and other similar agreements, unless such writing or statement states that such position is based on such Lender’s determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing or public statement). Any determination by the Administrative Agent that a Lender is a Potential Defaulting Lender under any of clauses (i) and (ii) above will be conclusive and binding absent manifest error, and such Lender will be deemed a Potential Defaulting Lender (subject to Section 2.19(f) hereof) upon notification of such determination by the Administrative Agent to the Borrower, the LC Issuing Banks and the Lenders.

  • Specified Defaults means, collectively, the Existing Defaults and the Anticipated Defaults.

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.