Required Redemption Amount definition

Required Redemption Amount has the meaning given to it in Schedule 9 of the Guarantor Agreement;

Required Redemption Amount means, in respect of a Series of Covered Bonds, the amount calculated as follows: the Principal Amount Outstanding of the relevant Series of Covered Bonds

Required Redemption Amount means in respect of a Series, the aggregate Principal Amount Outstanding of such Series.

Examples of Required Redemption Amount in a sentence

• This may adversely affect later maturing Series of Covered Bonds if the Selected Loans sold to redeem an earlier maturing Series of Covered Bonds are sold for less than the Adjusted Required Redemption Amount and accordingly the LLP is required to apply other assets in the Portfolio (i.e. Principal Receipts) to redeem that earlier maturing Series of Covered Bonds.

• However, if a Notice to Pay has been served, the Selected Loans may not be sold by the LLP for less than an amount equal to the Adjusted Required Redemption Amount for the relevant Series of Covered Bonds until six months prior to the Final Maturity Date in respect of such Covered Bonds or (if the same is specified as applicable in the relevant Final Terms) the Extended Due for Payment Date in respect of such Covered Bonds.

• In the six months prior to, as applicable, the Final Maturity Date or Extended Due for Payment Date, the LLP is obliged to sell the Selected Loans and their Related Security for the best price reasonably available notwithstanding that such price may be less than the Adjusted Required Redemption Amount.

• If Selected Loans are not sold for an amount equal to or in excess of the Adjusted Required Redemption Amount, the LLP may have insufficient funds available to pay the Covered Bonds.On the Final Maturity Date of a Series of Covered Bonds or, as applicable on each Interest Payment Date up to and including, the Extended Due for Payment Date, the LLP will apply all proceeds standing to the credit of the GIC Account to redeem the relevant Series of Covered Bonds.

• In the six months prior to, as applicable, the Final Maturity Date or Extended Due for Payment Date, the Guarantor is obliged to sell Portfolio Assets for the best price reasonably available notwithstanding that such price may be less than the Adjusted Required Redemption Amount.

More Definitions of Required Redemption Amount

Required Redemption Amount means in respect of a Series, the amount calculated as follows: the aggregate Principal Amount Outstanding of such Series x (1+(0.005 x (days to the Extended Due for Payment Date of such Series / 365))).

Required Redemption Amount means in respect of any relevant Series or Tranche of OBG, the amount calculated as follows:the Outstanding Principal Balance of the relevant Series or Tranche of OBGMultiplied by(1+(Negative Carry Corrector * (with respect to OBG which are not Pass-Through OBG, days to the Maturity Date of the relevant Series or Tranche of OBG/365 or, with respect to Pass-Through OBG, 31 days)).On each Guarantor Payment Date, following the service of a Guarantor Acceleration Notice, the OBG Guarantor will use the Available Funds, to make payments in the order of priority set out below (in each case only if and to the extent that payments of a higher priority have been made in full):

Required Redemption Amount means, in respect of a Series of Covered Bonds, the amount calculated as the Outstanding Principal Balance of the relevant Series of Covered Bonds in accordance with the Cover Pool Administration Agreement.On each Guarantor Payment Date, the “Available Funds” shall include (i) the Interest Available Funds, (ii) the Principal Available Funds and (iii) the amounts received by the Guarantor as a result of any enforcement taken vis-à-vis the Issuer in accordance with Article 4, paragraph 3 of the MEF Decree (the “Excess Proceeds”).On each Guarantor Payment Date following the service of an Acceleration Notice, the Available Funds, as calculated in respect of the relevant Guarantor Payment Date, will be used to make payments in the order of priority set out below (in each case only if and to the extent that payments of a higher priority have been made in full):

Required Redemption Amount means in respect of each Series of Covered Bonds, the amount calculated as at the Principal Amount Outstanding of each Series of Covered Bonds.

Required Redemption Amount means, in respect of a Series of Covered Bonds, the amount calculated as follows: the Principal Amount Outstanding of the relevant Series of Covered Bonds x 1+ Negative Carry Factor X (days to maturity of the relevant Series of Covered Bonds/365) provided that for purposes of the Required Redemption Amount in respect of a Series of Covered Bonds issued prior to the CMHC Programme Registration Date, Negative Carry Factor shall be the greater of (i) the Pre-Registration Negative Carry Factor; and (ii) the Negative Carry Factor, as determined in respect of such Series of Covered Bonds.

Required Redemption Amount means, (a) in respect of a Series of Covered Bonds, the sum of the Outstanding Principal Balance of the relevant Series Covered Bonds and the product of (i) the weighted average remaining maturity of the relevant Series of Covered Bonds expressed in days and divided by 365, (ii) the Euro Equivalent amount of the Outstanding Principal Balance of the relevant Series Covered Bonds, and

Required Redemption Amount means, in respect of a Series of Covered Bonds, the amount calculated as the Outstanding Principal Balance of the relevant Series of Covered Bonds in accordance with the Cover Pool Administration Agreement.