Senior Creditors of the Issuer definition

Senior Creditors of the Issuer. ’ means creditors of the Issuer (a) who are unsubordinated creditors of the Issuer, or (b) who are subordinated creditors of the Issuer whose claims are expressed to rank in priority to the claims of the holders of Dated Subordinated Notes (whether only in the winding up of the Issuer or otherwise).

Senior Creditors of the Issuer means (a) creditors of the Issuer whose claims are admitted to proof in the winding-up of the Issuer and who are unsubordinated creditors of the Issuer and (b) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims relate to obligations which constitute, or would, but for any applicable limitation on the amount of such capital, constitute Tier 1 Instruments or Tier 2 Instruments of the Issuer, or whose claims otherwise rank or are expressed to rank pari passu with, or junior to, the claims of holders of the Subordinated Notes);

Senior Creditors of the Issuer means creditors of the Issuer (a) who are unsubordinated creditors of the Issuer, or (b) who are subordinated creditors of the Issuer whose claims are

Examples of Senior Creditors of the Issuer in a sentence

• For this purpose, the Issuer shall be considered to be solvent if it can pay principal and interest in respect of the Notes and still be able to pay its outstanding debts to Senior Creditors of the Issuer, which are due and payable.

• The rights of the holders of Subordinated Notes (and any rights in respect of the relative Receipts and Coupons) will, in the event of the Winding Up or Qualifying Administration of the Issuer, be subordinated in right of payment in the manner provided in the Trust Deed to the claims of Senior Creditors of the Issuer.

• The rights and claims of the Holders under the Securities are subordinated to the claims of Senior Creditors of the Issuer, present and future.

• The claims of the holders of the Undated Subordinated Notes and the Coupons relating thereto (if any) will, in the event of the bankruptcy or winding up of the Issuer, be subordinated in right of payment in the manner provided in the Trust Deed to the claims of Senior Creditors of the Issuer (as defined below).

• The rights of the holders of Subordinated Notes against the Issuer are subordinated in right of payment to the claims of all Senior Creditors of the Issuer.

More Definitions of Senior Creditors of the Issuer

Senior Creditors of the Issuer means (a) unsubordinated creditors of the Issuer and (b) subordinated creditors of the Issuer, other than those whose claims constitute (or relate to a guarantee or other like or similar undertaking or arrangement given by the Issuer in respect of any obligation of any other person which constitute), or would but for any applicable limitation on the amount of any such capital, constitute Tier 1

Senior Creditors of the Issuer has the meaning ascribed thereto in Condition 2(d);

Senior Creditors of the Issuer means all of the creditors of the Issuer whose claims are admitted to proof in the winding up or liquidation of the Issuer and who are unsubordinated creditors of the Issuer.

Senior Creditors of the Issuer means all of the creditors of the Issuer who are unsubordinated creditors of the Issuer.

Senior Creditors of the Issuer means creditors of the Issuer who (A) are depositors of the Issuer or other unsubordinated creditors of the Issuer, or (B) are subordinated creditors of the Issuer other than (x) in the case of Dated Subordinated Notes, those whose claims rank, or are expressed to rank, pari passu with, or junior to, the claims of the holders of the Dated Subordinated Notes and (y) in the case of Undated Subordinated Notes, Other Pari Passu Claims (as defined on Condition 2(d) of the Terms and Conditions).

Senior Creditors of the Issuer means creditors of the Issuer who (A) are depositors of the Issuer or other unsubordinated creditors of the Issuer, or (B) are subordinated creditors of the Issuer other than

Senior Creditors of the Issuer means creditors of the relevant Issuer (a) in the case of both Senior Resolution Notes and Tier 2 Notes, who are unsubordinated creditors of the relevant Issuer, or (b) in the case of Tier 2 Notes only, who are holders of Senior Resolution Notes or who are other subordinated creditors of the relevant Issuer whose claims are expressed to rank in priority to the claims of the holders of Dated Subordinated Notes (whether only in the winding up of such Issuer or otherwise).[This Series of Notes is issued on a [senior/subordinated] basis.]Issuers’ negative pledgeThe terms of the Senior Notes will contain a negative pledge provision to the effect that, so long as any of the Notes remains outstanding, [neither] the relevant Issuer [nor the Guarantor (if applicable)] shall [not] create or permit to be outstanding any mortgage, charge, lien, pledge or other similar encumbrance or security interest upon the whole or any part of its undertaking or assets, present or future (including any uncalled capital), to secure any borrowings having an original maturity of more than one year represented by bonds, notes, debentures or other securities which, with the consent of the relevant Issuer are, or are intended to be, listed or traded on any stock exchange, over-the-counter or other organised market for securities (whether or not initially distributed by way of private placing) or any guarantee or indemnity given in respect thereof, without at the same time or promptly securing the Notes equally and rateably therewith or providing such other security as shall be approved by an extraordinary resolution of the holders of Senior Notes save that the relevant Issuer [or the Guarantor (if applicable)] may create or permit to subsist a security