Qualifying Tier 2 Notes definition

Qualifying Tier 2 Notes means securities issued directly or indirectly by the Issuer that:
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Qualifying Tier 2 Notes means any securities issued directly or indirectly by the Bank where such securities:
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Qualifying Tier 2 Notes means securities that have terms not materially less favorable to the Holders, as reasonably determined by the Company in consultation with an independent investment bank, independent financial advisor or legal counsel, in each case of international standing on the subject, and which: (i) contain terms providing for the same interest rate and interest payment dates applying to the Notes; (ii) rank senior to or pari passu with the Notes; (iii) preserve all obligations (including the obligations arising from the exercise of any right) as to principal and as to repayment of the Notes, including (without limitation) as to timing of, and amounts payable upon, such repayment; (iv) do not contain new terms providing for loss absorption through principal write-down or conversion to ordinary shares that are materially less favorable to Holders than the loss absorption provisions contained in the Notes; and (v) preserve any rights to any accrued and unpaid interest, and any existing rights to other amounts payable under the Notes which has accrued to Holders and not been paid.
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Examples of Qualifying Tier 2 Notes in a sentence

  • Any such notice shall specify the relevant details of the manner in which such substitu- tion or variation shall take effect and where the Noteholders can inspect or obtain cop- ies of the new terms and conditions of the Qualifying Tier 2 Notes.

  • Qualifying Tier 2 Notes are securities issued by the Issuer that have, inter alia, terms not materially less favourable to the Noteholders than the terms of the Notes.

  • The Issuer may, in respect of the Notes, at any time having given no less than 30 nor more than 45 calendar days' notice to the Noteholders and the Couponholders in accordance with Condition 15, substitute all (but not some only) of such Notes or vary the terms of all (but not some only) of such Notes, without any requirement for the consent or approval of the Noteholders or the Couponholders, so that they become or remain Qualifying Tier 2 Notes.

  • Subject as provided in Condition 9 (Redemption, substitution and purchase), the Issuer may, at its option and without the consent or approval of Noteholders, elect to substitute all (but not only some) of the Notes for, or amend or vary the terms of the Notes so that they become or remain Qualifying Tier 2 Notes in the event of certain changes in the tax treatment of the Notes or payments thereunder due to a Tax Event or a Capital Disqualification Event or in the event of a Rating Agency Event.

  • There can be no assurance that, due to the particular circumstances of each Noteholder, any Qualifying Tier 2 Notes will be as favourable to each Noteholder in all respects or that, if it were entitled to do so, a particular Noteholder would make the same determination as the Issuer as to whether the terms of the relevant Qualifying Tier 2 Notes are not materially less favourable to Noteholders than the terms of the Notes.

  • The Issuer may, at any time, in respect of English Law Notes (subject to the provisions of Condition 6(i) of the English Law Conditions (Substitution and Variation with respect to Senior Notes)), without the consent or approval of the Noteholders, elect either to substitute all (but not some only) or vary the terms of all (but not some only) of a Series of English Law Notes, so that they become or remain Qualifying Senior Notes or Qualifying Tier 2 Notes, as the case may be.

  • Subject to the provisions of Condition 6.7 (Conditions to redemption prior to Maturity Date) and having given no less than thirty nor more than forty-five calendar days’ notice to the Holders in accordance with Condition 14 (Notices), the Issuer may at any time substitute all (but not some only) of the Notes or vary the terms of all (but not some only) of the Notes, without any requirement for the consent or approval of the Holders, so that they become or remain Qualifying Tier 2 Notes.


More Definitions of Qualifying Tier 2 Notes

Qualifying Tier 2 Notes means, at any time, any securities (other than the Notes) issued by the Issuer that:
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Qualifying Tier 2 Notes means, at any time, any securities (other than the Notes)
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Qualifying Tier 2 Notes means securities issued by the Issuer that:
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Qualifying Tier 2 Notes means securities issued by the Issuer (or, if different, Alpha Bank or any wholly owned direct or indirect subsidiary of Alpha Bank with a subordinated guarantee of such obligations by Alpha Bank) that:
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Qualifying Tier 2 Notes means issued directly or indirectly by the Bank where such securities: have terms not materially less favourable to the Holders than the terms of the Notes with any differences between their terms and conditions and these Conditions being those strictly necessary to (in the case of a Capital Event) comply with the requirements of the Competent Authority in relation to Tier 2 Capital in accordance with the Applicable Banking Regulations and/or (in the case of a Tax Event) cure the relevant Tax Event (provided that the Bank shall have obtained a Bank's Certificate and an Independent Financial Adviser Certificate (copies thereof will be available at the Bank's registered office during its normal business hours) at least 15 Business Days prior to the issue or, as appropriate, variation of the relevant securities); and subject to (a) above, shall (1) rank at least equal to the ranking of the Notes, (2) have the same currency, the same (or higher) Interest Rate and the same Interest Payment Dates as those from time to time applying to the Notes, (3) have the same redemption rights as the Notes; (4) comply with the then current requirements of Applicable Banking Regulations in relation to Tier 2 Capital; (5) preserve any existing rights under the Notes to any accrued interest or other amounts which have not been paid, and (6) are assigned (or maintain) at least the same solicited credit ratings as were assigned to the Notes immediately prior to such variation or substitution, and (7) shall not at such time be subject to a Capital Event or a Tax Event; and are (i) listed and admitted to trading on AIAF or (ii) listed on a Recognised Stock Exchange, if the Notes were listed immediately prior to such variation or substitution;
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Related to Qualifying Tier 2 Notes

  • Qualifying tax rate means the applicable tax rate for the taxable year for the which the taxpayer paid income tax to a municipal corporation with respect to any portion of the total amount of compensation the payment of which is deferred pursuant to a nonqualified deferred compensation plan. If different tax rates applied for different taxable years, then the “qualifying tax rate” is a weighted average of those different tax rates. The weighted average shall be based upon the tax paid to the municipal corporation each year with respect to the nonqualified deferred compensation plan.

  • Qualifying Capital Securities means securities (other than Common Stock, rights to acquire Common Stock and securities convertible into Common Stock) that, in the determination of the Corporation’s Board of Directors reasonably construing the definitions and other terms of this Replacement Capital Covenant, meet one of the following criteria:

  • Class E Notes has the meaning assigned to such term in the Indenture.

  • Class C Notes has the meaning assigned to such term in the Indenture.