Priorities of Payment definition

Priorities of Payment means, both prior to and following the enforcement of security over the Collateral, in the case of Interest Proceeds, the Interest Proceeds Priority of Payments and, in the case of Principal Proceeds, the Principal Proceeds Priority of Payments, and in the case of Collateral Enhancement Obligation Proceeds, the Collateral Enhancement Obligation Proceeds Priority of Payments.

Priorities of Payment means (a) save for following any optional redemption of the Notes and prior to enforcement of the security over the Collateral, in the case of Interest Proceeds, the Interest Proceeds Priority of Payments or, in the case of Principal Proceeds, the Principal Proceeds Priority of Payments, and (b) in the event of any optional redemption of the Notes or following enforcement of the security over the Collateral, the Enforcement Priority of Payments;

Priorities of Payment means, in the case of Interest Proceeds, the Interest Proceeds Priority of Payments set out in Condition 3(c)(i) (Application of Interest Proceeds), in the case of Principal Proceeds, the Principal Proceeds Priority of Payments set out in Condition 3(c)(ii) (Application of Principal Proceeds), in the case of Collateral Enhancement Obligation Proceeds, the Collateral Enhancement Obligation Proceeds Priority of Payments set out in Condition 3(c)(iii) (Application of Collateral Enhancement Obligation Proceeds) and in the case of the proceeds of realisation of the Collateral following enforcement of the Security, the Collateral Proceeds Priority of Payments.

Examples of Priorities of Payment in a sentence

• The funds available to the Issuer to pay its expenses on any Payment Date are limited as provided in the Priorities of Payment.

• Except as is otherwise stated below, such risk factors are generally applicable to all Classes of Notes, although the degree of risk associated with each Class of Notes will vary in accordance with the position of such Class of Notes in the Priorities of Payment.

• Payments of interest and principal on the Subordinated Notes will only be made to the extent that there are Interest Proceeds and Principal Proceeds available for such purpose in accordance with the Priorities of Payment.

• On the Special Redemption Date, the Special Redemption Amount will be applied in accordance with the Priorities of Payment.

• Accordingly, no assurance can be given as to the amount of proceeds of any sale or disposition of such Collateral Debt Obligations at any time, or that the proceeds of any such sale or disposition would be sufficient to repay a corresponding par amount of principal of and interest on the Notes after, in each case, paying all amounts payable prior thereto pursuant to the Priorities of Payment.

More Definitions of Priorities of Payment

Priorities of Payment. ’ means in the case of Interest Proceeds, the priorities of payment set out in Condition 3(c)(i) (Application of Interest Proceeds) or, in the case of Principal Proceeds, the priorities of payment set out in Condition 3(c)(ii) (Application of Principal Proceeds), provided that in the case of any redemption of the Notes in whole pursuant to Conditions 7 (Redemption and Purchase) or 10 (Events of Default) or enforcement of the security over the Collateral pursuant to Condition 11 (Enforcement), Priorities of Payment in Condition 3(c)(i) (Application of Interest Proceeds) shall exclude paragraphs (A) and (C) of Condition 3(c)(i) (Application of Interest Proceeds) to the extent that the Administrative Expenses referred to in such paragraphs are Administrative Expenses of the nature described in paragraphs (a), (e), (f), (h), (i) and (j) of the definition thereof and, in the case of enforcement of the security over the Collateral pursuant to Condition 11 (Enforcement), the Senior Fee Cap in paragraph (C) of Condition 3(c)(i) (Application of Interest Proceeds) shall not apply.

Priorities of Payment means the Pre-Enforcement Priority of Payments as set out in Condition 3(e) (“Status, Priority and Security—Pre-Enforcement Priority of Payments”) and the Post-Enforcement Priority of Payments as set out in Condition 3(f) (“Status, Priority and Security—Post-Enforcement Priority of Payments”).

Priorities of Payment. ’ means the Available Income Funds Priority of Payments, the Available Amortisation Funds Priority of Payments and the Enforcement Priority of Payments.

Priorities of Payment means the provisions governing the application of the proceeds of the any liquidation of the Underlying Metal upon an Early Redemption or Final Redemption of the ETC Securities or the proceeds of enforcement of the Security pursuant to Condition 5(e) and Condition 5(d) of the ETC Securities.

Priorities of Payment means in the case of Interest Proceeds, the priorities of payment set out in Condition 3(c)(i) (Application of Interest Proceeds) or, in the case of Principal Proceeds, the priorities of payment set out in Condition 3(c)(ii) (Application of Principal Proceeds).

Priorities of Payment means, in the case of Interest Proceeds, the Interest Proceeds Priority of Payments set out in Condition 3(c)(i) (Application of Interest Proceeds) and in the case of Principal Proceeds, the Principal Proceeds Priority of Payments set out in Condition 3(c)(ii) (Application of Principal Proceeds).

Priorities of Payment means, in the case of Interest Proceeds, the priorities of payment set out under “Interest Waterfall” in the Conditions and, in the case of Principal Proceeds, the priorities of payment set out under “Principal Waterfall” in the Conditions.