Reference Collateral definition

Reference Collateral. ’ means, in respect of a Reference Obligation, such Reference Obligation’s pro rata portion of any mortgage, charge, guarantee or other security interest granted to or held for the benefit of any holder in respect of such Reference Obligation as security for the obligations of the obligor under such Reference Obligation, provided that Reference Collateral does not include any such interest to the extent that it is held for the benefit of a person other than the lender of record in respect of such Reference Obligation as designated by the CDS Counterparty.
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Reference Collateral means, with respect to any Defaulted Reference Obligation, any pledge, mortgage, indemnity guarantee or any other security interest granted directly or indirectly for the benefit of lender(s) as security for the Reference Obligation provided that the Reference Collateral shall not include any of the aforementioned interests to the extent that it is held directly or indirectly for the benefit of a person other than the relevant lender(s). If Reference Collateral or any other security is given as security for more than one obligation (including such Defaulted Reference Obligation), Recoveries in respect of such Reference Collateral or any other security shall (except to the extent required otherwise by law and except to the extent provided otherwise in the documentation relating to the relevant obligations) be allocated pro rata among the obligations in respect of which Reference Collateral or any other security has been given determined by reference to the outstanding principal amount of the relevant obligations on the date on which the relevant Credit Event occurred. Late Recoveries If at any time prior to the Termination Date and with respectto a Worked Out Obligation for which a Worked Out Credit Protection Amount has been determined, any applicable lender receives further Recoveries which were not included in determining the Actual Credit Protection Payment Amount in respect of such Worked Out Obligation that were not included in the Recoveries or in the Credit Loss Event Amount Recovery (if applicable) determined in respect thereof, such amounts, determined on the basis set out below and following verification of such amounts by the Independent Accountant in accordance with the Agreed Upon Procedures, shall be a "Late Recovery Amount".In respect of Worked Out Obligations denominated in a Non- Euro Currency, any Late Recovery Amount shall be converted into euro at the Applicable FX Rate as of the immediately preceding FX Reset Date for such Non-Euro Reference Obligation. Calculation of Synthetic Excess Spread AmountOn each Calculation Date, the Calculation Agent shall calculate the Synthetic Excess Spread Amount in respect of the Reference Portfolio in relation to the Calculation Period ending on the day prior to such Calculation Date. The "Synthetic Excess Spread Amount", in relation to any Calculation Date, is equal to the product of:
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Reference Collateral means, with respect to any Defaulted Reference Obligation, any pledge, mortgage, guarantee or any other security interest granted to the lender of record as security for the Reference Obligation provided that the Reference Collateral shall not include any of the aforementioned interests to the extent that it is held for the benefit of a person other than the lender of record. If Reference Collateral or any other security is given as security for more than one obligation (including such Defaulted Reference Obligation), Recoveries in respect of such Reference Collateral or any other security shall (except to the extent required otherwise by law and except to the extent provided otherwise in the documentation relating to the relevant obligations) be allocated pro rata among the obligations in respect of which Reference Collateral or any other security has been given determined by reference to the outstanding principal amount of the relevant obligations on the date on which the Credit Event occurred.Calculation of Aggregate Issuer Payment On each Calculation Date, the Calculation Agent shall calculate the Aggregate Issuer Payment in respect of Credit Protection Payment Amounts determined in the Calculation Period ending on (but not including) such Calculation Date. The amount of the Aggregate Issuer Payment will be satisfied by the Issuer liquidating the Cash Deposit or, as the case may be, arrangingfor the repurchase by the Repo Counterparty of the relevant amounts of Repo Securities pursuant to the Repo Agreement and by paying the relevant amount to the Swap Counterparty.
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Examples of Reference Collateral in a sentence

  • Settlement Grace Period is applicable where the Reference Collateral Assets Grace Period is 60 Business Days.

  • Servicing The administration, collection and enforcement of each Reference Obligation including the enforcement of any related Reference Collateral, shall be carried out in accordance with the Servicing Principles.

  • Collateral Valuation Dates: In respect of the Reference Collateral Assets: Not applicable.

  • The principles of the allocation of the proceeds from the Reference Collateral to the Reference Obligations are set out in the section headed "Servicing Principles" in this Prospectus.

  • Haircut In respect of the Reference Collateral Assets: Not applicable.

  • Initial Reference Collateral Assets Purchase Date(s): The Initial Posting Date.

  • The Reference Obligations may from time to time be secured by the Reference Collateral.

  • Reference Portfolio – Servicing The administration, collection and enforcement of each Reference Obligation, including the enforcement of any related Reference Collateral, shall be carried out in accordance with the Servicing Principles.

  • On or around each Reference Collateral Interest Payment Date the Issuer will be obliged to pay an amount to the Swap Counterparty in the Reference Collateral Currency equal to the scheduled Reference Collateral Coupon Amount due to be paid on such Reference Collateral Interest Payment Date provided that no Early Redemption Event or Event of Default has occurred.

  • For the purpose of the determination of the Recovery Amount and the Loss Amount in respect of any Defaulted Reference Obligation(s) that benefit from Reference Collateral, any realised proceeds of a Reference Collateral Pool securing, amongst other things, one or more Defaulted Reference Obligations shall be allocated to reduce the outstanding principal amount of such Reference Obligation in accordance with the Collateral Allocation Principles.


More Definitions of Reference Collateral

Reference Collateral means, with respect to any Defaulted Reference Obligation, any pledge, mortgage, indemnity, guarantee or any other security interest granted directly or indirectly for the benefit of any lender(s) as security for the Reference Obligation provided that the Reference Collateral shall not include any of the aforementioned interests to the extent that it is held directly or indirectly for the benefit of a person other than the Relevant Lender. If Reference Collateral or any other security is given as security for more than one obligation (including such Defaulted Reference Obligation), Recoveries in respect of such Reference Collateral or any other security shall (except to the extent required otherwise by law and except to the extent provided otherwise in the documentation relating to the relevant obligations) be allocated pro rata among the obligations in respect of which Reference Collateral or any other security has been given determined by reference to the outstanding principal amount of the relevant obligations on the date on which the relevant Credit Event.
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Reference Collateral means, with respect to any Defaulted Reference Obligation, any pledge, mortgage, guarantee or any other security interest granted directly or indirectly for the benefit of bondholder(s) as security for the Reference Obligation provided that the Reference Collateral shall not include any of the aforementioned interests to the extent that it is held directly or indirectly for the benefit of a person other than the relevant bondholder(s).
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Related to Reference Collateral

  • Hedge Collateral Defined in Section 5.3(b).

  • Acceptable Collateral means any of the following assets of Borrower, if (x) held in or credited to any Collateral Account subject to a first priority Lien under the applicable Security Agreement and (y) the Collateral Requirement has been satisfied with respect thereto:

  • Reference Assets means the underlying interest contained in the Reference Portfolio, and “Reference Asset” means each of the Reference Assets.

  • Eligible Collateral means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.

  • Borrower Collateral means all of Borrower’s now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Swap Collateral means all right, title and interest of Party B in this Agreement, each Transaction hereunder, and all present and future amounts payable by Party A to Party B under or in connection with this Agreement or any Transaction governed by this Agreement, including, without limitation, any transfer or termination of any such Transaction.

  • UCC Collateral is defined in Section 3.03.

  • Reference Asset means a reference asset of the relevant Index or Investment Strategy in respect of a Series of ETP Securities as specified in the Final Terms.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Reference Asset Weight means, in respect of a Reference Asset, the proportion of the Reference Portfolio set out under the heading “Reference Portfolio Weight” for such Reference Asset in the table included under “THE REFERENCE PORTFOLIO, subject to adjustments that may be made pursuant to “DESCRIPTION OF THE NOTES – Adjustments and Exceptional Circumstances”.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Applicable Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Collateral Agent for the Series of First Lien Obligations represented by the Major Non-Controlling Representative.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Account Collateral means, with respect to each Account, such Account, together with all cash, securities, Financial Assets and investments and other property from time to time deposited or credited to such Account and all proceeds thereof, including, with respect to the Reserve Fund, the Reserve Fund Deposit and the Reserve Fund Amount.

  • Negotiable Collateral means all of Borrower’s present and future letters of credit of which it is a beneficiary, drafts, instruments (including promissory notes), securities, documents of title, and chattel paper, and Borrower’s Books relating to any of the foregoing.

  • Collateral has the meaning set forth in Section 2.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Equity Collateral shall have the meaning set forth in Section 11.6 hereof.