Recovery Rate definition

Recovery Rate means, in relation to any UK Four institution the percentage of the original face value of senior unsecured debt obligations of the affected UK Four institution, as derived by the Calculation Agent from either the ISDA Auction Final Price or the Market Value.

Recovery Rate means, in relation to any UK 5 institution, the percentage representing the Calculation Agent’s estimate, in its absolute discretion, of the amount that investors of unsecured, unsubordinated debt obligations issued or guaranteed by such UK 5 institution are likely to receive as a proportion of the amount they would have received if such UK 5 institution had not become insolvent.

Recovery Rate. : means the percentage rate, as determined by the International Swaps and Derivatives Association (ISDA) or Societe Generale, used to calculate the value of the affected proportion of the Plan in the event that any of the UK3 experience a Credit Event.

Examples of Recovery Rate in a sentence

• On or prior to the Effective Date, the Collateral Manager shall elect the Weighted Average S&P Recovery Rate that shall apply on and after the Effective Date but prior to the S&P CDO Monitor Switchover Date to the Collateral Obligations for purposes of determining compliance with the Minimum Weighted Average S&P Recovery Rate Test, and the Collateral Manager will so notify the Collateral Trustee, the Loan Agent and the Collateral Administrator.

• If the Collateral Manager does not notify the Collateral Trustee, the Loan Agent and the Collateral Administrator that it will alter the Weighted Average S&P Recovery Rate chosen on or prior to the Effective Date in the manner set forth above, the Weighted Average S&P Recovery Rate chosen on or prior to the Effective Date shall continue to apply.

• On or prior to the later of (x) the S&P CDO Monitor Election Date and (y) the Effective Date, the Collateral Manager shall elect the Weighted Average S&P Recovery Rate that shall apply on and after such date to the Collateral Obligations for purposes of determining compliance with the Minimum Weighted Average S&P Recovery Rate Test, and the Collateral Manager will so notify the Trustee and the Collateral Administrator.

• If the Collateral Manager does not notify the Trustee and the Collateral Administrator that it will alter the Weighted Average S&P Recovery Rate in the manner set forth above, the Weighted Average S&P Recovery Rate chosen as of the S&P CDO Monitor Election Date or the Effective Date, as applicable, shall continue to apply.

• Thereafter, any reference herein to, or requirement in respect of, the S&P CDO Monitor Test or the Minimum Weighted Average S&P Recovery Rate Test shall be of no further force or effect.

More Definitions of Recovery Rate

Recovery Rate. : means the percentage rate, as determined by The International Swaps and Derivatives Association (ISDA) or Societe Generale, used to calculate the value of

Recovery Rate means, in relation to any Financial Institution the percentage of the original face value of senior unsecured debt obligations of the affected Financial Institution, as derived by the Calculation Agent from either the ISDA Auction Final Price or the Market Value.

Recovery Rate. : means the percentage rate, as determined by The International Swaps and Derivatives Association (ISDA) or Societe Generale, used to calculate the value of the affected proportion of the Plan in the event of a default of any of the UK Four.

Recovery Rate means, with respect to any Monthly Period, an amount equal to the quotient (expressed as a percentage) of (a) all Recoveries during such Monthly Period and the two preceding Monthly Periods, divided by (b) the Outstanding Receivables Balance of all Receivables that became Defaulted Receivables during such Monthly Period and the two preceding Monthly Periods.

Recovery Rate means, in relation to any Financial Institution and the UK Government, the percentage of the original face value of senior unsecured debt obligations of the affected Financial Institution or the UK Government, as applicable, as derived by the Calculation Agent from either the ISDA Auction Final Price or the Market Value.

Recovery Rate means the amount of packaging or paper products

Recovery Rate means, as of any Calculation Date, the arithmetic average of the Monthly Recovery Rates for the most recent three months.