Rating Methodology Event means there is a change in, clarification to or amendment of any relevant methodology of S&P (or in the interpretation of such methodology) after the date of issue of the last Tranche of the Notes as a result of which the ALAC assigned to the Notes by S&P is, in the reasonable opinion of the Issuer, reduced in full;
Rating Methodology Event means, at any time, on or after the Issue Date, there is a change in, clarification to or amendment of any relevant methodology of S&P (or in the interpretation of such methodology) as a result of which the additional loss-absorbing capacity (or such nomenclature used by S&P from time to time) assigned to the relevant Senior Non Preferred Notes or Restricted EOD Notes, as applicable, by S&P is, in the reasonable opinion of the Issuer, reduced in full.
Rating Methodology Event means that the Issuer certifies in a notice to the Noteholders that an amendment, clarification or change has occurred in the equity credit criteria of any Rating Agency from whom the Issuer is assigned sponsored ratings, which amendment, clarification or change results in a lower equity credit for the Euro 5 Year Non-Call Notes than the then respective equity credit assigned on the Issue Date, or if equity credit is not assigned on the Issue Date, at the date when the equity credit is assigned for the first time.
Examples of Rating Methodology Event in a sentence
Substitution and VariationIf an MREL Eligibility Event, a Rating Methodology Event, an Alignment Event or Tax Event occurs and is continuing, the Issuer may, at its option (subject to obtaining relevant supervisory permission, if required), substitute the Notes, or vary the Conditions, without any requirement for the consent or approval of Noteholders, so that they are substituted for, or varied to become or remain, qualifying notes.
Substitution and Variation If an MREL Eligibility Event, a Rating Methodology Event, an Alignment Event or Tax Event occurs and is continuing, the Issuer may, at its option (subject to obtaining relevant supervisory permission, if required), substitute the Notes, or vary the Conditions, without any requirement for the consent or approval of Noteholders, so that they are substituted for, or varied to become or remain, qualifying notes.
If a Rating Methodology Event occurs, Nykredit Realkredit will provide notice of such event to the Noteholders in accordance with Condition 22.
This limitation will no longer apply if a Rating Methodology Event occurs.
For the purposes of this Condition, a Rating Methodology Event will be deemed to occur upon a change in the methodology of the Rating Agency (as defined above) (or in the interpretation of such methodology) as a result of which the equity content previously assigned by the Rating Agency to the Notes is, in the reasonable opinion of the Issuer, materially reduced when compared to the equity content assigned by the Rating Agency at or around the Issue Date.
More Definitions of Rating Methodology Event
Rating Methodology Event means, in respect of a Series of Senior Non-Preferred Notes, there is a change in, clarification to or amendment of any relevant methodology of S&P (or in the interpretation of such methodology) after the date of issue of the last Tranche of such Notes as a result of which the ALAC assigned to such Notes by S&P is, in the reasonable opinion of Nykredit Realkredit, reduced in full;
Rating Methodology Event means that the Issuer has received written confirmation from any Rating Agency that, due to any amendment to, clarification of, or change in the assessment criteria under its hybrid capital methodology or in the interpretation thereof, in each case occurring or becoming effective after the Issue Date (or, if “equity credit” is not assigned to the Bonds by the relevant Rating Agency on the Issue Date, the date on which “equity credit” is assigned by such Rating Agency for the first time), any or all of the Bonds will no longer be eligible (or if the Bonds have been partially or fully re-financed since the Issue Date and are no longer eligible for “equity credit” from such Rating Agency in part or in full as a result ofsuch re-financing, any or all of the Bonds would no longer have been eligible as a result of such amendment to, clarification of, or change in the assessment criteria or in the interpretation thereof had they not been so re-financed) for the same or a higher amount of “equity credit” as was attributed to the Bonds as at the Issue Date (or, if “equity credit” is not assigned to the Bonds by the relevant Rating Agency on the Issue Date, the date on which “equity credit” is assigned by such Rating Agency for the first time).
Rating Methodology Event means that we have received written confirmation from any Rating Agency from whom we are assigned solicited ratings either directly or via a publication by such agency, that an amendment, clarification or change has occurred in the equity credit criteria of such Rating Agency, which amendment, clarification or change results in a lower equity credit for the Notes than the then respective equity credit assigned on the Issue Date, or if equity credit is not assigned on the Issue Date, at the date when the equity credit is assigned for the first time.
Rating Methodology Event means that the Guarantor or the Issuer have received written confirmation from any Rating Agency from whom the Guarantor is assigned solicited ratings either directly or via a publication by such agency, that an amendment, clarification or change has occurred in ratings methodology of such Rating Agency, which amendment, clarification or change results in a lower “equity credit” (or such other nomenclature that the relevant Rating Agency may then use to describe the degree to which an instrument exhibits the characteristics of an ordinary share) for the Bonds than the then highest respective “equity credit” assigned on or before November 30, 2015, or if “equity credit” is not assigned on or before November 30, 2015, at the date when the “equity credit” from such Rating Agency is assigned for the first time, or in the case of S&P, at the date when the highest “equity credit” was assigned during the period from November 30, 2015 to a date falling on or around the first date on which the Issuer may no longer exercise its right to call the Bonds in accordance with Condition 5(b)(v) (Redemption for acquisition reasons).
Rating Methodology Event means that:
Rating Methodology Event means a change in methodology of S&P Global Ratings Europe Limited (“S&P”) (or in the interpretation of such methodology) that was not reasonably foreseeable by the Issuer at the Issue Date as a result of which the equity content assigned by S&P to the Notes is, in the reasonable opinion of the Issuer, materially reduced when compared to the equity content assigned by S&P to the Notes on the Issue Date or, if later, on the date on which such equity content were first assigned to the Notes.
Rating Methodology Event means, with respect to any series of Notes, if, as a consequence of a change in, or clarification to, the rating methodology (or the interpretation thereof) of Xxxxx’x Investor Service, Standard & Poor’s Rating Services or Fitch Ratings Inc. or any respective successor, which change or clarification becomes effective on or after the Issue Date, the capital treatment of such series of Notes for the Company or the Guarantor or their respective groups or the Insurance Group is amended in a way that is reasonably determined by the Company or the Guarantor to be materially unfavorable to the Company or the Guarantor or their respective subsidiaries or the Insurance Group and provided such determination by the Company has been notified to the BMA in advance and the BMA has given notice of its approval (or non-disapproval) of such determination.