Potential Credit Event definition

Potential Credit Event means a Potential Failure to Pay (if Failure to Pay is an applicable Credit Event in respect of the Reference Entity), a Potential Repudiation/Moratorium (if Repudiation/Moratorium is an applicable Credit Event in respect of the Reference Entity) or if a Credit Event Resolution Request Date has occurred and the relevant Credit Derivatives Determinations Committee has not made its determination, such event will be deemed to be a Potential Credit Event. A Credit Derivatives Determinations Committee and the Calculation Agent may each determine whether a Potential Failure to Pay or a Potential Repudiation/Moratorium has occurred.

Potential Credit Event means the Credit Default Swap Counterparty, acting in good faith, determines that a Credit Event may potentially occur with respect to a Reference Entity under the terms of the Credit Default Swap Agreement following a Potential Failure to Pay or Potential Repudiation/ Moratorium thereunder and, in each case, as a result a Cash Settlement Amount may be payable although, as at the date of delivery of the Potential Credit Event Notice, the Credit Event has yet to occur.

Potential Credit Event means any of:

Examples of Potential Credit Event in a sentence

• See “Payments in the Notes may be deferred or suspended” risk factor in “Risk Factors” above.Notice of any Potential Credit Event Notice will be given to the Noteholders in accordance with Condition 16 (Notices) by the Issuer promptly after receipt by the Issuer thereof from the Swap Counterparty.

• On or prior to the Scheduled Termination Date, the Issuer (following notice to that effect from the Counterparty under the Swap Agreement) shall notify the Securityholders that a Potential Credit Event exists.

• If a Substitution Event has occurred with respect to the Reference Obligation and the Calculation Agent determines that no Substitute Reference Obligation is available for that Reference Obligation, then the Calculation Agent shall continue to attempt to identify a Substitute Reference Obligation until the Scheduled Maturity Date (subject, if applicable to Potential Credit Event Extension, Grace Period Extension and/or Repudiation/Moratorium Extension).

• See “Payments in the Notes may be deferred or suspended” risk factor in “Risk Factors” above.Notice of any Potential Credit Event Notice will be given to the Noteholders in accordance with Condition 16 ( Notices) by the Issuer promptly after receipt by the Issuer thereof from the Swap Counterparty.

• See also “Payments in the Notes may be deferred or suspended” risk factor in “Risk Factors” above.Notice of any Potential Credit Event Notice will be given to the Noteholders in accordance with Condition 17 (Notices) by the Issuer promptly after receipt by the Issuer thereof from the Swap Counterparty.

More Definitions of Potential Credit Event

Potential Credit Event means a Potential Failure to Pay, a Potential Repudiation/Moratorium or if a Credit Event Resolution Request Date has occurred and the Credit Derivatives Determinations Committee has not made its determination, such event will be deemed to be a Potential Credit Event.

Potential Credit Event means an event which, in the determination of the Calculation Agent, may constitute a Credit Event.

Potential Credit Event means, with respect to the CDS Contract, the occurrence of a Potential Failure to Pay or Potential Repudiation/Moratorium thereunder (in each case as defined in the CDS Confirmation);

Potential Credit Event means an event which, in the determination of the Determination Agent, may, with the passage of time, constitute a Credit Event.

Potential Credit Event means the Buyer, acting in good faith, determines that any event which would, but for the application of any Grace Period or any condition precedent to the commencement of any Grace Period applicable to such Reference Obligation, constitute a Failure to Pay and, in each case, as a result a Cash Settlement Amount may be payable although, as at the date of delivery of the Potential Credit Event Notice, the Credit Event has yet to occur.

Potential Credit Event means (i) in respect of a Reference Obligation that is a CDS Reference Obligation, a notice has been delivered by the buyer or the seller thereunder (or could have been delivered if such CDS Reference Obligation had been executed) to the effect that a credit event for the purposes of the CDS Reference Obligation has occurred, and the Determination Agent determines that, as a result of the delivery of such a notice, a Notional Writedown Credit Event may (or could, if such CDS Reference Obligation had been executed) occur although, as at the date of delivery of the relevant Potential Credit Event Notice, the Notional Reduction Amount of the CDS Reference Obligation has yet (or, as the case may be, would yet have) to be determined or (ii) in respect of a Reference Obligation that is not a CDS Reference Obligation a notice has been delivered in accordance with the Reference Obligation Terms and Conditions to the effect that a credit event or similar occurrence has occurred, and following delivery of such notice, the Determination Agent determines that a Principal Writedown Credit Event may occur although, as at the date of delivery of the relevant Potential Credit Event Notice, the relevant Principal Reduction Amount has yet to be determined.

Potential Credit Event means either: (c) the failure by a Reference Entity to make, when and where due, any payments in an aggregate amount of not less than the Payment requirement under any Reference Obligation, without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Reference Obligation, in accordance with the terms of such Reference Obligation at the time of such failure; or (d) a Reference Entity institutes or has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is presented for its winding-up or liquidation which would, if such proceeding or petition is not dismissed, discharged, stayed or restrained, in each case within thirty calendar days of the institution or presentation thereof, would constitute a Bankruptcy Credit event.