Examples of SRO List in a sentence
If the Standard Reference Obligation is removed from the SRO List, such obligation shall cease to be the Reference Obligation (other than for purposes of the "Not Subordinated" Obligation Characteristic or "Not Subordinated" Valuation Obligation Characteristic) and there shall be no Reference Obligation unless and until such obligation is subsequently replaced on the SRO List, in which case, the new Standard Reference Obligation in respect of the Reference Entity shall constitute the Reference Obligation.
The relevantStandard Reference Obligation may be modified in accordance with the SRO List.
SRO List means the list of Standard Reference Obligations as published by ISDA on its website at www.isda.org from time to time (or any successor website thereto) or by a third party designated by ISDA on its website from time to time.
Under the Credit Default Swap, where “Standard Reference Obligation” is specified as applicable in the Credit Default Swap Confirmation, the Reference Obligation will always be the Standard Reference Obligation for so long as a Standard Reference Obligation is published on the relevant SRO List.
Standard Reference Obligation means the obligation of the Reference Entity with the relevant Seniority Level which is specified from time to time on the SRO List.
If the Standard Reference Obligation is removed from the SRO List, such obligation shall cease to be the Reference Obligation and the Calculation Agent will select as a substitute Reference Obligation any Deliverable Obligation with the same level of seniority as the relevant Seniority Level.
In respect of certain CDS where Standard Reference Obligation is specified as applicable, the Reference Obligation will be the obligation specified as the market standard reference obligation for the relevant Reference Entity for the relevant seniority level on the SRO List to be published by ISDA (or any successor thereto).
The republic of FranceSenioritySenior LevelTransaction TypeStandard Western European SovereignReference Entity Notional AmountEUR 30,000,000Trade Date7 May 2015 Standard Reference ObligationApplicableThe Standard Reference specified on the SRO List at the Issue Date is OAT 4.25% 25Apr19 - ISIN: FR0000189151.
In addition, the Calculation Agent (i) may replace the Reference Obligation with any further Deliverable Obligation with the same level of seniority as the relevant Seniority Level from time to time and (ii) if a new obligation is placed on the SRO List in respect of the relevant Reference Entity, then the Calculation Agent may, but is not obliged to, select the new Standard Reference Obligation in respect of the Reference Entity as the Reference Obligation.
Noteholders should be aware that the Reference Obligation as at the Trade Date (which for this Series will be the Non-Standard Reference Obligation) may, in certain circumstances, be replaced by another obligation that will then become the Reference Obligation and, for the purposes of this Series, such a replacement is likely to occur once a Standard Reference Obligation is published on the relevant SRO List.