Solvency Shortfall definition

Solvency Shortfall means the portion of interest that would cause a Solvency Event to occur or be continuing.

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:

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;

Examples of Solvency Shortfall in a sentence

• 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.

• 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.

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.

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.

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;

Solvency Shortfall means that portion of a scheduled interest payment that would cause a Solvency Event to occur or be continuing.

Solvency Shortfall means the portion of the Interest Amount that, if paid, would cause a Solvency Event to occur or be continuing.