Senior Ranking Amendment Legislation definition

Senior Ranking Amendment Legislation means, if and as applicable, a Spanish law that expressly provides for the possibility that, upon the insolvency (concurso) of a Regulated Entity issuer of debt securities (i) the obligations under certain unsubordinated and unsecured liabilities (créditos ordinarios) (the “Statutory Second Ranking Senior Liabilities”) may rank below those of other unsubordinated and unsecured liabilities (créditos ordinarios) with higher priority ranking (the “Statutory Ordinary Senior Liabilities”), or (ii) different sub-classes within the unsubordinated and unsecured liabilities (créditos ordinarios) class are contractually agreed.
Sample 1Sample 2Sample 3
Senior Ranking Amendment Legislation means, if and as applicable, a Spanish law that expressly provides for the possibility that, upon the insolvency (concurso) of a Regulated Entity issuer of debt securities
Sample 1Sample 2Sample 3
Senior Ranking Amendment Legislation means a Danish piece of legislation expressly contemplating the possibility that upon the insolvency of a Regulated Entity issuer of debt securities (i) the obligations under certain unsubordinated and unsecured liabilities may rank below other unsubordinated and unsecured liabilities with higher priority ranking, or (ii) different sub-classes within the unsubordinated and unsecured liabilities class are contractually agreed;
Sample 1Sample 2Sample 3

Examples of Senior Ranking Amendment Legislation in a sentence

  • Claims for principal in respect of the Notes are intended to constitute Statutory Second Ranking Senior Liabilities ranking below Statutory Ordinary Senior Liabilities pursuant to any Senior Ranking Amendment Legislation (to the extent permitted by such Senior Ranking Amendment Legislation) but ahead of claims in respect of present and future subordinated obligations (créditos subordinados) of Banco Santander.

  • Claims for principal in respect of Second Ranking Senior Debt Securities of any series are intended to constitute Statutory Second Ranking Senior Liabilities ranking below Statutory Ordinary Senior Liabilities pursuant to any Senior Ranking Amendment Legislation (to the extent permitted by such Senior Ranking Amendment Legislation) but ahead of claims in respect of present and future subordinated obligations (créditos subordinados) of the Company.

  • Claims for principal in respect of the 2027 Fixed Rate Notes are intended to constitute Statutory Second Ranking Senior Liabilities ranking below Statutory Ordinary Senior Liabilities pursuant to any Senior Ranking Amendment Legislation (to the extent permitted by such Senior Ranking Amendment Legislation) but ahead of claims in respect of present and future subordinated obligations (créditos subordinados) of the Company.

  • An “Alignment Event” is deemed to have occurred if, following the implementation of the Senior Ranking Amendment Legislation or an amendment thereof, the terms and conditions of Statutory Second Ranking Senior Liabilities or the most junior sub-class within the unsubordinated and unsecured liabilities (créditos ordinarios) class, are different in any respect from the Conditions.

  • Claims for principal in respect of the Floating Rate Notes are intended to constitute Statutory Second Ranking Senior Liabilities ranking below Statutory Ordinary Senior Liabilities pursuant to any Senior Ranking Amendment Legislation (to the extent permitted by such Senior Ranking Amendment Legislation) but ahead of claims in respect of present and future subordinated obligations (créditos subordinados) of the Company.

  • Claims for principal in respect of the 2022 Fixed Rate Notes are intended to constitute Statutory Second Ranking Senior Liabilities ranking below Statutory Ordinary Senior Liabilities pursuant to any Senior Ranking Amendment Legislation (to the extent permitted by such Senior Ranking Amendment Legislation) but ahead of claims in respect of present and future subordinated obligations (créditos subordinados) of the Company.


More Definitions of Senior Ranking Amendment Legislation

Senior Ranking Amendment Legislation means, if and as applicable, a Spanish piece of legislation that expressly provides for the possibility that, upon the insolvency (concurso) of a Regulated Entity issuer of debt securities (i) the obligations under certain unsubordinated and unsecured liabilities (créditos ordinarios) (the “Statutory Second Ranking Senior Liabilities”) may rank below those of other unsubordinated and unsecured liabilities (créditos ordinarios) with higher priority ranking (the “Statutory Ordinary Senior Liabilities”), or (ii) different sub-classes within the unsubordinated and unsecured liabilities (créditos ordinarios) class are contractually agreed. Notwithstanding any other term of this Note or any other agreements, arrangements, or understandings between the Company and any Holder of the 2027 Fixed Rate Notes, by its acquisition of this Note, each Holder (which, for the purposes of this clause, includes each holder of a beneficial interest in this Note) acknowledges, accepts, consents to and agrees to be bound by the exercise of any Bail-in Power by the Relevant Resolution Authority that may result in the write-down or cancellation of all or a portion of the Amounts Due on this Note and/or the conversion of all or a portion of the Amounts Due on this Note into shares or other securities or other obligations of the Company or another person, including by means of a variation to the terms of the 2027 Fixed Rate Notes to give effect to the exercise by the Relevant Resolution Authority of such Bail-in Power. Each Holder of this Note further acknowledges and agrees that the rights of the Holders of the 2027 Fixed Rate Notes are subject to—and will be varied, if necessary, so as to give effect to— the exercise of any Bail-in Power by the Relevant Resolution Authority:
Sample 1
Senior Ranking Amendment Legislation means Section 20 of Bill no. 184 published before the Danish Parliament on 14 March 2018 (or, if such bill is withdrawn before being passed, any other piece of legislation), proposing amendments to the Danish Recovery and Resolution Act that expressly provides for the possibility that, upon the insolvency of a Regulated Entity issuer of debt securities, the obligations under certain unsubordinated and unsecured liabilities (the “Senior Non-Preferred Obligations”) may rank below other unsubordinated and unsecured liabilities with higher priority ranking;
Sample 1Sample 2
Senior Ranking Amendment Legislation means the Luxembourg law of 25 July 2018; “Statutory Ordinary Senior Liabilities” has the meaning given to it in Condition 2; “Statutory Second Ranking Senior Liabilities” has the meaning given to it in Condition 2; “Subordinated Obligations” has the meaning given to it in Condition 2;
Sample 1Sample 2
Senior Ranking Amendment Legislation means Section 20 of Bill no. 184 published before the Danish Parliament on 14 March 2018 and finally adopted on 29 May 2018, containing amendments to the Danish Recovery and Resolution Act to implement the changes to article 108 of BRRD set out in article 1 of Directive 2399/2017/EU that expressly provides for the possibility that, upon the insolvency of a Regulated Entity issuer of debt securities, the obligations under certain unsubordinated and unsecured liabilities (the “Senior Non-Preferred Obligations”) may rank below other unsubordinated and unsecured liabilities with higher priority ranking;
Sample 1

Related to Senior Ranking Amendment Legislation

  • Senior Security Documents means with respect to any Senior Secured Party, the Security Documents that secure the Senior Obligations.

  • Refinancing Amendment means an amendment to this Agreement in form and substance reasonably satisfactory to the Administrative Agent and the Borrower executed by each of (a) the Borrower and Holdings, (b) the Administrative Agent and (c) each Additional Lender and Lender that agrees to provide any portion of the Credit Agreement Refinancing Indebtedness being incurred pursuant thereto, in accordance with Section 2.21.

  • Senior Note Indentures means, collectively, the Senior Note (2020) Indenture, the Senior Note (2021) Indenture, the Senior Note (2022) Indenture and the Senior Note (2023) Indenture.

  • Guarantee and Collateral Agreement the Guarantee and Collateral Agreement to be executed and delivered by the Borrower and each Subsidiary Guarantor, substantially in the form of Exhibit A, as the same may be amended, supplemented or otherwise modified from time to time.

  • Security Documents means the Security Agreement, the Mortgages, the Intellectual Property Security Agreement, the Pledge Agreement, the Facility Guarantee, and each other security agreement or other instrument or document executed and delivered pursuant to this Agreement or any other Loan Document that creates a Lien in favor of the Collateral Agent to secure any of the Obligations.

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Facility Agreement means an agreement or arrangement between a State Party and the Organization relating to a specific facility subject to on-site verification pursuant to Articles IV, V and VI.

  • Senior Secured Note Indenture means the Indenture dated as of November 5, 2009, among the Issuers, the Note Guarantors (as defined therein) and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent and registrar, as amended, extended, restructured, renewed, refunded, novated, supplemented, restated, replaced or modified from time to time;

  • Senior Secured Credit Agreement means that certain Credit Agreement, dated as of September 27, 2018, among the Borrowers, the lenders from time to time party thereto, JPMCB as administrative agent, JPMCB as collateral agent, and the other parties thereto, as amended, restated, amended, restated, extended, supplemented, refinanced or otherwise modified from time to time.

  • Secured Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Credit Party and any Cash Management Bank.

  • Term Loan Agreement has the meaning assigned to such term in the recitals of this Agreement.

  • Senior Note Indenture the Indenture entered into by the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Notes, together with all instruments and other agreements entered into by the Borrower or such Subsidiaries in connection therewith.

  • Foreign Security Documents means any agreement or instrument entered into by any Foreign Subsidiary Borrower that is reasonably requested by the Collateral Agent providing for a Lien over the assets (including shares of other Subsidiaries) of such Foreign Subsidiary Borrower.

  • Senior Credit Agreement has the meaning specified therefor in the Recitals hereto.

  • Refinancing Agreement as defined in Subsection 8.3(c).

  • Existing Revolving Credit Agreement means that certain Revolving Credit Agreement, dated as of August 29, 2018, among the Borrower, the other borrowers party thereto, the lenders and letter of credit issuers from time to time party thereto and Xxxxx Fargo Bank, National Association, as administrative agent (as amended, restated, supplemented or otherwise modified from time to time).

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Incremental Lenders, establishing Incremental Term Loan Commitments of any Series or Incremental Revolving Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.20.

  • Senior Secured Credit Facilities means the amended and restated senior secured credit facilities dated November 30, 2016 among Studio City Company Limited, the guarantors named therein, the financial institutions named as lenders therein and the agent for such lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as such facilities may be amended, restated, modified, renewed, supplemented, replaced or refinanced from time to time.

  • ABL Security Agreement means the Security Agreement (as defined in the ABL Credit Agreement).

  • Subordinated Note Indenture means the Indenture dated as of the Closing Date, among the Borrower, the guarantors party thereto and The Bank of New York, as trustee, pursuant to which the Subordinated Notes are issued, as the same may be amended, supplemented or otherwise modified from time to time to the extent permitted by Section 10.7(b).

  • Guarantee and Security Agreement means that certain Guarantee and Security Agreement dated as of the Effective Date among the Borrower, the Administrative Agent, each Subsidiary of the Borrower from time to time party thereto, each holder (or an authorized agent, representative or trustee therefor) from time to time of any Secured Longer-Term Indebtedness or Secured Shorter-Term Indebtedness, and the Collateral Agent.

  • ABL Security Documents means any agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed.

  • Term Credit Agreement shall have the meaning set forth in the recitals hereto.

  • Guaranty and Collateral Agreement means the Guaranty and Collateral Agreement dated as of the date hereof executed and delivered by the Loan Parties, together with any joinders thereto and any other guaranty and collateral agreement executed by a Loan Party, in each case in form and substance satisfactory to the Administrative Agent.