Solvency Shortfall definition

Solvency Shortfall means the portion of interest that would cause a Solvency Event to occur or be continuing.
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Solvency Shortfall means the portion of the Interest Amount that, if paid, would cause a Solvency Event to occur or be continuing. Deferred Interest Payments....................... Any amounts of deferred interest following a Required InterestDeferral Event together with any Optionally Deferred Interest are referred to herein as “Deferred Interest” and will not themselves bear interest. The Issuer is entitled to pay Deferred Interest (in whole or in part) at any time on giving not less than 10 Business Days’ notice to the Noteholders in accordance with Condition 12, which notice will specify the amount of Deferred Interest to be paid and the date fixed for such payment (the “Optional Deferred Interest Payment Date”) (whereupon such Deferred Interest shall become due and payable on such date fixed for payment), provided that (A) no Solvency Event has occurred and is continuing (as evidenced by the absence of any public statement by the Issuer or the Guarantor that the Solvency Event has been cured); and (B) FINMA has given its Consent. Upon such notice being given, the amount of Deferred Interest specified therein will become due and payable, and the Issuer will be obliged to pay such amount of Deferred Interest on the specified Optional Deferred Interest Payment Date, provided that no Solvency Event hasoccurred or would occur due to the payment of the Deferred Interest on or prior to the Optional Deferred Interest Payment Date and is continuing (as evidenced by the absence of any public statement by the Issuer or the Guarantor that the Solvency Event has been cured) on the Optional Deferred Interest Payment Date. Deferred Interest shall become due and payable (in whole but not in part) on the first to occur of the following dates:
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Solvency Shortfall means, in relation to a member, the amount by which the value of own funds attributable to the member falls below the reporting point for the member as determined under the Minimum Capital Requirement Part of the PRA Rulebook;
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Examples of Solvency Shortfall in a sentence

  • For the avoidance of doubt, if on an Interest Payment Date a Solvency Event (i) has occurred and is continuing (as evidenced by the absence of any public statement by the Issuer that the Solvency Event has been cured) or (ii) would occur as a result of payment of the relevant Interest Amount, the Issuer will be required, save as stated above, to defer payment of that Interest Amount; provided that in the case of (ii), the Issuer will only be required to defer the Solvency Shortfall.

  • The Issuer shall not be required to defer such Interest Payment or, as the case may be, Solvency Shortfall if FINMA or any Successor Authority has given its consent to such payment.

  • If on an Interest Payment Date a Solvency Event (i) has occurred and is continuing (as evidenced by the absence of any public statement by the Issuer that the Solvency Event has been cured) or(ii) would occur as a result of payment of the relevant Interest Amount, the Issuer will be required, save as stated above, to defer payment of that Interest Amount; provided that in the case of (ii), the Issuer will only be required to defer the Solvency Shortfall.

  • In addition, on any Interest Payment Date in relation to which a Solvency Event has occurred and is continuing at the relevant Reference Date (such date a "Solvency Interest Deferral Date"), the Issuer will be required to defer payment of interest, or as the case may be, the relevant Solvency Shortfall, as more fully described in Condition III 3.

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  • If on any Interest Payment Date a Solvency Event has occurred or would occur the payment of the Interest Amount otherwise falling due on such date shall be deferred, provided that in the case where the payment of such Interest Amount would itself cause a Solvency Event to occur, the Issuer shall only be obliged to defer the payment of the Solvency Shortfall.

  • In the case where payment of such Interest Amount would itself cause a Solvency Event to occur, we will be required to defer the Solvency Shortfall (as defined below).

  • Additional Employer Contributions $000's % of 2009‐ 10 Payroll Solvency Shortfall over 5 Years 29.67% 2011‐12*All Operating Queen's** Budget33,815 25,475 2012‐13All Operating Queen's** Budget50,792 38,263 2013‐14All Operating Queen's** Budget50,861 38,316Solvency Shortfall over 10 years 24.07% Under current Provincial legislation there is the possibility of delaying the start of new going‐ concern and solvency deficit payments for one year.

  • If on an Interest Payment Date or redemption date a Solvency Event has occurred, we will be required to defer payment of any Interest Amount; provided that in the case where the payment of such Interest Amount would itself cause a Solvency Event to occur, we will only be required to defer the Solvency Shortfall (as defined below).


More Definitions of Solvency Shortfall

Solvency Shortfall means the portion of the Interest Amount that would cause a Solvency Event to occur or to be continu- ing.
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Solvency Shortfall means the portion of the interest amount (including, for the avoidance of doubt, Deferred Interest), which would be due under these Conditions but for the occurrence and the continuance of a Solvency Event that would cause a Solvency Event to occur or be continuing.
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Solvency Shortfall means, in relation to a member, the value of admissible assets held in respect of the member (after deduction of the amount by which those assets exceed the limits set out in INSPRU 2.1 and disregarding any central assets) falls short of the aggregate value of the member's relevant liabilities and MCR;
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Solvency Shortfall means the portion of the Interest Amount that would cause a Solvency Event to occur or be continuing. Mandatory Deferral Event A “Mandatory Deferral Event” shall have occurred on an Interest Payment Date if the following conditions are satisfied on the Test Date (as defined below) immediately preceding such Interest Payment Date:
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Solvency Shortfall means that portion of a scheduled interest payment that would cause a Solvency Event to occur or be continuing.
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Related to Solvency Shortfall

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Principal Shortfall For any Distribution Date, the amount, if any, by which (i) the Principal Distribution Amount for the preceding Distribution Date exceeds (ii) the aggregate amount actually distributed with respect to principal on the Non-Vertically Retained Principal Balance Certificates on such preceding Distribution Date in respect of such Principal Distribution Amount.

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Deficiency Amount shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).