Prevailing Principal Amount definition

Prevailing Principal Amount means, in respect of a Capital Security, the initial principal amount of such Capital Security as reduced by any Write-down of such Capital Security (on one or more occasions) pursuant to Condition 10 (Write-down at the Point of Non-Viability);

Prevailing Principal Amount means, in respect of a Note at any time, the Initial Principal Amount of that Note as reduced (on one or more occasion(s)) by any Write-Down (as defined in Condition 6.1) at or prior to such time,

Prevailing Principal Amount means, in respect of a Security at any time, the Original Principal Amount of such Security as reduced by any Principal Write-down of such Security (on one or more occasions) at or prior to such time pursuant to Condition 7 and, if applicable following any Principal Write-down, as subsequently increased by any Principal Write-up of such Security (on one or more occasions) at or prior to such time pursuant to Condition 7.

Examples of Prevailing Principal Amount in a sentence

• The Capital Securities bear interest on their outstanding Prevailing Principal Amount at the applicable Rate of Interest from (and including) the Issue Date.

• If interest is required to be calculated in respect of a period of less than a full Interest Period (the "Relevant Period"), it shall be calculated as an amount equal to the product of: (a) the applicable Interest Rate; (b) the Prevailing Principal Amount of the relevant Capital Security then outstanding; and (c) the applicable Day-count Fraction for the Relevant Period, rounding the resultant figure to the nearest cent (half a cent being rounded upwards).

• In the case of a Write-down resulting in the reduction of the Prevailing Principal Amount of each Capital Security then outstanding to nil, with effect from the Non-Viability Event Write-down Date, the Capital Securities will be automatically cancelled and the holders shall not be entitled to any claim for any amount in connection with the Capital Securities.

• Unless previously redeemed or purchased and cancelled as specified below, each outstanding Note will be redeemed by the Issuer at its then Prevailing Principal Amount on the Maturity Date.

• Such a meeting may be convened by the Issuer or Holders holding not less than five per cent in Prevailing Principal Amount outstanding at such time.

More Definitions of Prevailing Principal Amount

Prevailing Principal Amount means, in relation to each Capital Security at any time, the principal amount of such Capital Security at that time, being its Initial Principal Amount, as adjusted from time to time for any Write Down and/or Write Up, in accordance with Condition 6 and/or as otherwise required by then current legislation and/or regulations applicable to the Issuer;

Prevailing Principal Amount means, in respect of a Capital Security at any time, the Original Principal Amount of such Capital Security as reduced by any Principal Write-down of such Capital Security at or prior to such time pursuant to Condition 7 (Principal Write-down and Principal Write- up) (on one or more occasions) and, if applicable following any Principal Write-down, as subsequently increased by any Principal Write-up of such Capital Security (on one or more occasions) at or prior to such time pursuant to Condition 7 (Principal Write-down and Principal Write-up).

Prevailing Principal Amount means, in relation to each Subordinated Note at any time, the outstanding principal amount of such Subordinated note at that time, being its initial principal amount, or any such lesser amount following any Write Down (as defined in Condition 6(a) below) in accordance with these Conditions;

Prevailing Principal Amount means, in respect of a Note at any time, the Initial Principal Amount of that Note as reduced (on one or more occasions) by any Write- Down (as defined in Condition 6 (Loss Absorption and Discretionary Reinstatement) below) and increased (on one or more occasions) by any Write-Up (as defined below), in each case at or prior to such time;

Prevailing Principal Amount means, in respect of a Note at any time, the Initial Principal Amount of that Note as reduced (on one or more occasion(s)) by any Write-Down at or prior to such time (with respect to a Global Note or Definitive Note, a reference to a Prevailing Principal Amount refers to the aggregate Prevailing Principal Amount of the Notes represented thereby),

Prevailing Principal Amount means, in respect of a Note at any time, the Original Principal Amount of such Note as reduced by any Principal Write-down of such Note (on one or more occasions) at or prior to such time pursuant to Condition 8 (Principal Write-down and Principal Write-up) and, if applicable following any Principal Write-down, as subsequently increased by any Principal Write-up of such Note (on one or more occasions) at or prior to such time pursuant to Condition 8 (Principal Write-down and Principal Write-up).

Prevailing Principal Amount means, in relation to each Capital Security at any time, the outstanding principal amount of such Capital Security at that time, being its initial principal amount, or any such lesser amount following any Write Down in accordance with these Conditions.