Sovereign Event means any nationalization; expropriation; devaluation; revaluation; confiscation; seizure; cancellation; destruction; strike; act of war, terrorism, insurrection or revolution; or any other act or event beyond the Administrator’s control;
Sovereign Event means the government of the Reference Entity, its agencies, instrumentalities or entities by means of any law, regulation, ruling, directive or interpretation, whether or not having the force of law, at any time takes any action which legally or de facto results in or will result in the non- payment of the Reference Asset in accordance with its original terms.
Sovereign Event means occurrence of any of the following events as determined by the Calculation Agent:
Examples of Sovereign Event in a sentence
PAST LAW, PRESENT HISTORIES (Diane Kirkby ed., 2012); Stewart Motha, The Sovereign Event in a Nation’s Law, 13 LAW & CRITIQUE 311, 317–24 (2002).
More Definitions of Sovereign Event
Sovereign Event means any nationalization; expropriation; devaluation; revaluation; confiscation; seizure; cancellation; destruction; strike; act of war, terrorism, insurrection or revolution; or any other act or event beyond the Administrator's control. any provision of any present or future law, regulation or order of the United States or any state thereof, or of any foreign country or political subdivision thereof, or of any securities depository or clearing agency, any provision of any order or judgment of any court of competent jurisdiction. Notwithstanding any other provision of this Agreement, the Administrator shall not be held accountable or liable for any losses, damages or expenses the Funds or any shareholder or former shareholder of the Funds or any other person may suffer or incur arising from acts, omissions, errors or delays of the Administrator in the performance of its obligations and duties hereunder, including without limitation any error of judgment or mistake of law, except a damage, loss or expense resulting from the Administrator's willful malfeasance, bad faith or negligence in the performance of such obligations and duties. The Administrator shall in no event be required to take any action, which is in contravention of any applicable law, rule or regulation or any order or judgment of any court of competent jurisdiction. The Fund hereby agrees to indemnify the Administrator against and hold it harmless from any and all losses, claims, damages, liabilities or expenses (including reasonable counsel fees and expenses) resulting from any act, omission, error or delay or any claim, demand, action or suit, in connection with or arising out of performance of its obligations and duties under this Agreement, not resulting from the willful malfeasance, bad faith or negligence of the Administrator in the performance of such obligations and duties.
Sovereign Event means any nationalization; expropriation; devaluation; revaluation; confiscation; seizure; cancellation; destruction; strike; act of war, terrorism, insurrection or revolution; or any other act or event beyond the Sub-Administrator's control; or
Sovereign Event means that the state or any political subdivision or government or agency, instrumentality, ministry, department or other authority (including, without limitation, the central bank) of or in the Local Jurisdiction disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, or declares or imposes a moratorium, standstill, roll-over or deferral, whether de facto or de jure, in respect of one or more of its obligations; becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due; makes a general assignment, arrangement or composition with or for the benefit of its creditors; institutes or has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights; has a secured party take possession of any of its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against any of its assets; causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect to any of these events; or takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts.
Sovereign Event means the occurrence of a Sovereign Event Determination Date as defined in, and pursuant to, the relevant Reference Obligation Documentation;
Sovereign Event shall have the meaning given such term in the Term Sheet.