Solvency Condition definition

Solvency Condition has the meaning set forth in Section 5.01(c) hereof.

Solvency Condition means the condition that, other than in the event of our winding-up or administration, as described in “Description of the Securities—Subordination,” or with respect to the payment of the cash proceeds from any Conversion Shares Offer Consideration, as described under “Description of the Securities— Automatic Conversion Upon Capital Adequacy Trigger Event— Conversion Shares Offer,” payments in respect of, or arising from, the Securities will be conditional (x) upon our being solvent at the time of payment by us, and (y) in that no sum in respect of or arising from the Securities may fall due and be paid except to the extent that we could make such payment and still be solvent immediately thereafter. For purposes of determining whether the Solvency Condition is met, we will be considered to be solvent at a particular point in time if (x) we are able to pay our debts owed to Senior Creditors as they fall due and

Solvency Condition means the conditions set out in Condition 4.3;

Examples of Solvency Condition in a sentence

• The cash component of any Conversion Shares Offer Consideration shall be payable by the Conversion Shares Depositary to the Securityholders in U.S. Dollars and whether or not the Solvency Condition is satisfied.

• The cash component of any Conversion Shares Offer Consideration shall be payable by the Conversion Shares Depositary to the Holders of the Securities in U.S. Dollars and whether or not the Solvency Condition is satisfied.

• In whole, but not in part, at the option of the Issuer, on the First Call Date, and on any Interest Payment Date thereafter at a redemption price of Par plus unpaid accrued and Deferred Interest, subject to the Issuer giving prior notice to the FSA and receiving no objection from the FSA and to the Issuer being in compliance with its capital requirements (the “Redemption or Conversion Conditions”) and the Solvency Condition.

• For purposes of the Solvency Condition, the Issuer shall not be deemed solvent unless (i) the Issuer is able to pay its debt as they fall due and (ii) its Assets (as defined below) exceed its Liabilities (as defined below), but excluding its liabilities to persons who are not Senior Creditors (except in the case of an optional redemption of the Bonds through the exercise of the Call Option, in which case the liabilities of the Issuer to persons who are not Senior Creditors shall be included).

• Any non-payment by the Issuer of Investment Capital or Profit Payments due to Solvency Condition not being met shall be regarded as a deferment in payment thereof which shall entitle the Bond Holders to receive the payments as set out in Conditions 4.2(c) and/or 4.2(d) above.

More Definitions of Solvency Condition

Solvency Condition has the meaning set forth in ‎Section 6.01(e) hereof.

Solvency Condition means the condition that, other than in the event of our winding-up or administration, as described in “Description of the Securities—Subordination,” or with respect to the payment of the cash proceeds from any Conversion Shares Offer Consideration, as described under “Description of the Securities— Automatic Conversion Upon Capital Adequacy Trigger Event— Conversion Shares Offer,” payments in respect of, or arising from, the Securities will be conditional (x) upon our being solvent at the time of payment by us, and

Solvency Condition has the meaning specified in Section 12.01(c)(i).

Solvency Condition means that the Company is solvent by virtue of (i) its assets exceeding its liabilities (other than its liabilities to Persons who are not holders of Senior Indebtedness) and (ii) its being able to pay its debts as they fall due.

Solvency Condition means that, at and immediately after the relevant time, the Issuer is solvent by virtue of, (a) it being able to pay its debts to its Senior Creditors as they fall due and (b) its total Assets exceeding its total Liabilities other that Liabilities to persons that are not Senior Creditors by at least 4% or such other percentage specified by the Financial Services Authority from time to time as the Regulatory Capital Requirement. "Regulatory Capital Requirement" means any minimum or notional margin of solvency or minimum regulatory capital or capital ratios required for insurance companies or insurance holding companies or financial groups by the Financial Services Authority or any successor regulatory body.

Solvency Condition. All payments shall be subject to the Issuer meeting the Solvency Condition both at the time of, and immediately after, the relevant payment. The Issuer shall satisfy the Solvency Condition if it is able to pay its debts to Senior Creditors as they fall due and its total Assets (non-consolidated gross assets) exceed its total Liabilities (non-consolidated gross liabilities) (excluding subordinated Liabilities) by at least 4% or such other percentage as specified by the Financial Services Authority (“FSA”).

Solvency Condition. Other than in the event of a Winding-up or Administration Event or in relation to the cash component of any Alternative Consideration in any Settlement Shares Offer (as such terms are defined herein), payments in respect of or arising from the Contingent Capital Notes (including any damages for breach of any obligations thereunder) are, in addition to our right to cancel payments of interest, conditional upon our being solvent at the time when the relevant payment is due to be made, and no principal, interest or other amount shall be due and payable in respect of, or arising from, the Contingent Capital Notes, except to the extent that we could make such payment and still be solvent immediately thereafter (such condition is referred to herein as the “Solvency Condition”). For the purposes of determining whether the Solvency Condition is met, we shall be considered to be solvent at a particular point in time if: (i) we are able to pay our debts as they fall due; and (ii) our Assets are at least equal to our Liabilities.