Potential Issuer Event of Default definition

Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

Potential Issuer Event of Default has the meaning given to it in Condition 13 (Meetings of Holders of the Covered Bonds, Modification and Waiver);

Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default; and

Examples of Potential Issuer Event of Default in a sentence

• In the event of the occurrence of an Issuer Event of Default, Covered Bond Guarantor Event of Default, Potential Issuer Event of Default or Potential Covered Bond Guarantor Event of Default and the Bond Trustee undertaking additional work as a direct result of such occurrence, the Issuer and Covered Bond Guarantor hereby agree that the Bond Trustee will be entitled to be paid additional remuneration calculated at its normal hourly rates in force from time to time.

• In the event of the occurrence of an Issuer Event of Default, Covered Bond Guarantor Event of Default, Potential Issuer Event of Default or Potential Covered Bond Guarantor Event of Default, the Issuer hereby agrees that the Bond Trustee shall be entitled to be paid additional remuneration calculated at its normal hourly rates in force from time to time.

• In the event of the occurrence of an Issuer Event of Default, Covered Bond Guarantor Event of Default, Potential Issuer Event of Default or Potential Covered Bond Guarantor Event of Default and the Bond Trustee becoming required to undertake additional work as a direct result of such occurrence, the Issuer and Covered Bond Guarantor hereby agree that the Bond Trustee will be entitled to be paid additional remuneration calculated at its normal hourly rates in force from time to time.

• This Deed, being signed by the Issuer and a member of the LLP Management Board of the LLP, constitutes a certificate that there is no Issuer Event of Default, LLP Event of Default, Potential Issuer Event of Default or Potential LLP Event of Default outstanding at the date of this Deed or will occur as a result of the terms of this Deed.

• Notify the Trustee and Ambac in writing immediately upon becoming aware of the occurrence of any Issuer Event of Default or Potential Issuer Event of Default.

• MORTGAGE PORTFOLIO ANALYSIS AMOUNT AVAILABLE FOR TOP - UP LOANS/SUBSTITUTIONS NEXT MONTH Substitutions/Top -Up Loans Threshold Amount The Servicer hereby represents and warrants that the information provided herein is true, accurate and complete in all material respects and that as of the date of this report, the Servicer is not aware of the occurrence of an Issuer Event of Default or Potential Issuer Event of Default or Relevant Event or Potential Relevant Event or Rating Event.

• So long as any of the Bonds remain outstanding the Issuer and/or NEDL will, forthwith upon becoming aware of any Issuer Event of Default or Potential Issuer Event of Default, give notice in writing thereof to the Trustee and to Ambac.

• In the event of the occurrence of an Issuer Event of Default, LLP Event of Default, Potential Issuer Event of Default or Potential LLP Event of Default, each of the Issuer and the LLP agree that the Bond Trustee shall be entitled to be paid additional remuneration calculated at its normal hourly rates in force from time to time.

More Definitions of Potential Issuer Event of Default

Potential Issuer Event of Default means an event or circumstance which would with the giving of notice and/or lapse of time and/or the issuing of a certificate become an Issuer Event of Default;

Potential Issuer Event of Default has the meaning given to that term in the Trust Deed.

Potential Issuer Event of Default means an event or circumstance which could with the giving of notice, lapse of time, issue of a certificate and/or fulfilment of any other requirement provided for in Programme Term 3(a) (Issuer Events of Default) become an Issuer Event of Default.

Potential Issuer Event of Default means any event which may become (with the passage of time, the giving of notice, the making of any determination or any combination thereof) an Issuer Event of Default;

Potential Issuer Event of Default has the meaning given to that term in the Trust Deed. "Put Option" has the meaning given to that term in Condition 13 of the Bonds. "Rating Agencies" means, collectively, Xxxxx'x Investor Services Inc. ("Moody's") and Standard & Poor's Rating Services, a division of The McGraw Hill Companies Inc. ("S&P") or the successors of such entities as are identified by Ambac. "Relevant Indebtedness" means any indebtedness (whether being principal, premium, interest or other amounts) in the form of or represented by notes, bonds, debentures, debenture stock, loan stock or other securities, whether issued for cash or in whole or in part for a consideration other than cash, and which, with the agreement of the person issuing the same, are quoted, listed or ordinarily dealt in on any stock exchange or recognised over-the-counter or other securities market. -4- "Security Interest" means a mortgage, charge, lien, pledge or other security interest. "Subscription Agreement" means the subscription agreement dated 29 April 2005 between inter alios the Issuer, Ambac and the Royal Bank of Scotland plc (in its capacity as manager of the Bonds). "Subsidiary" means a subsidiary or subsidiary undertaking within the meaning of the Companies Act. "Tax" means any tax, levy, duty or other charge or withholding of a similar nature (including any penalty or interest payable thereon in connection with any failure to pay or any delay in paying the same). "Tax Credit" means a credit against, relief or remission for, or repayment of any Tax. "Tax Deduction" means a deduction or withholding for or on account of Tax from a payment under a Finance Document. "Treaty on European Union" means the Treaty of Rome of 25 March 1957, as amended by the Single Xxxxxxxx Xxx 0000 and the Maastricht Treaty (which was signed at Maastricht on 7 February 1992 and came into force on 1 November 1993). "Trustee" means HSBC Trustee (C.I.) Limited or any successor thereto or replacement thereof in accordance with the Trust Deed. "Trust Deed" means the Trust Deed dated on or about the date of this Agreement between the Issuer, Ambac and the Trustee.

Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request