Potential Failure to Pay definition

Potential Failure to Pay means 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 one or more Obligations, without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Obligations, in accordance with the terms of such Obligations at the time of such failure.

Potential Failure to Pay means the failure by an ABS Reference Entity to make, when and where due and payable, any payments in an aggregate amount of not less than the ABS Payment Requirement under one or more Obligations without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Obligation.

Potential Failure to Pay means (a) in relation to any Obligations other than Sukuk Obliga- tions, the failure by a Reference Entity to make, when and where due, any payments under one or more Obligations, in accordance with the terms of such Obligations at the time of such failure and/or (b) in relation to any Obligations that are Sukuk Obligations, the failure by the Reference Entity or the Sukuk Issuer to make, when and where due any payments or Expected Payments under one or more Sukuk Obligations or any payments under one or more related Recourse Ob- ligations, as applicable, in accordance with the terms of such Sukuk Obligations or Recourse Ob- ligations, as applicable, at the time of such failure, where the aggregate amount of such failures under sub-clause (a) and sub clause (b) (aggregated for the Reference Entity and all related Su- kuk Issuers but without double counting amounts in respect of the same Sukuk Obligation (whether such amounts are in respect of such Sukuk Obligation or related Recourse Obligation)) is not less than the Payment Requirement, in each case without regard to any grace period or conditions precedent to the commencement of any grace period applicable to such Obligations.".

Examples of Potential Failure to Pay in a sentence

• In the absence of any Publicly Available Information or any Applicable Resolution to the effect that any such event has been cured coming to the notice of the Calculation Agent, the Calculation Agent shall be entitled to assume that such event is continuing for the purposes of determining whether any cure has occurred within the Grace Period and the Calculation Agent shall determine the existence or occurrence of a Potential Failure to Pay, Potential Repudiation/Moratorium or Credit Event accordingly.

• Publicly Available Information need not state (i) in relation to Section 2.25, the percentage of Voting Shares owned, directly or indirectly, by the Reference Entity and (ii) that such occurrence (A) has met the Payment Requirement or Default Requirement (B) is the result of exceeding any applicable Grace Period or (C) has met the subjective criteria specified in Potential Failure to Pay, Potential Repudiation/Moratorium or certain Credit Events.

• If, in respect of these Notes, (i) a Potential Failure to Pay has occurred with respect to one or more Obligation(s) in respect of which a Grace Period is applicable on or prior to an Interest Payment Date or the scheduled Maturity Date, any payments in respect of these Notes may be deferred and, if a Risk Event subsequently occurs, these Notes will be redeemed as further described in the Conditions.

• An Event Determination Date may result from a Credit Event occurring at any time from and including the Credit Event Backstop Date to and including the Credit Observation End Date (or the Extension Date, if a Potential Failure to Pay or Potential Repudiation/Moratorium occurs).

• If a Potential Failure to Pay or Potential Repudiation/Moratorium occurs, interest will be suspended and if an Event Determination Date subsequently occurs, no interest will be payable following the Interest Payment Date immediately preceding the date on which such Potential Failure to Pay or Potential Repudiation/Moratorium occurs.

More Definitions of Potential Failure to Pay

Potential Failure to Pay means the failure by the Reference Entity to make, when and where due, any payments in an aggregate amount of not less than the Payment Requirement in respect of the Reference Obligation, without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to the Reference Obligation, in accordance with the terms of the Reference Obligation at the time of such failure.

Potential Failure to Pay means an event which, in the determination of the Calculation Agent, may constitute a Failure to Pay.

Potential Failure to Pay means the failure by a Reference Entity in respect of a Reference Obligation to make, when and where due, any payments with respect to such 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."

Potential Failure to Pay means the failure by a Reference Entity to make, when and where due, any payments under one or more Reference Obligations, without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Reference Obligations, in accordance with the terms of such Reference Obligations at the time of such failure;

Potential Failure to Pay means the failure by the Reference Entity to make, when and where due, any payments [Insert if "Payment Requirement" is specified as applicable: in an

Potential Failure to Pay means the failure by the Reference Entity to make, when and where due, any payments [Insert if "Payment Requirement" is specified as applicable: in an aggregate amount of not less than the Payment Requirement] under the Reference Asset [Insert where Credit Events apply to Obligations: or one or more Obligations], in accordance with the terms of such Reference Asset [Insert if Credit Events apply to Obligations: or such Obligation] at the time of such failure, without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Reference Asset [Insert if Credit Events apply to Obligations: or such Obligation].]

Potential Failure to Pay means the failure by the Reference Entity to make, when and where due, any payments in an aggregate amount of not less than the Payment Requirement specified in the applicable Pricing Supplement (or, if none is specified, US$1,000,000 or in each case, the equivalent in the relevant currency) under one or more Obligations, without regard to any Grace Period or conditions precedent to the commencement of any Grace Period applicable to such Obligations, in accordance with the terms of such Obligations at the time of such failure.