Statutory Loss Absorption definition

Statutory Loss Absorption means the write down or otherwise the application of losses to all or part of the nominal amount of the Notes (as the case may be) including accrued but unpaid interest in respect thereof, all as prescribed by the Applicable Resolution Framework.
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Statutory Loss Absorption means the write down, conversion into Common Equity Tier 1 instruments or otherwise the application of losses to all or part of the nominal amount of the Subordinated Notes or Senior Non-Preferred Notes (as the case may be) including accrued but unpaid interest in respect thereof, all as prescribed by the Applicable Resolution Framework and in each case subject to determination by the Relevant Resolution Authority or the Issuer (following instructions from the Relevant Resolution Authority).
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Statutory Loss Absorption means any write-down, conversion, modification, suspension or similar or related power existing from time to time under, and exercised in compliance with, any applicable laws, regulations, rules or requirements pursuant to the applicable Bail-in Legislations.
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Examples of Statutory Loss Absorption in a sentence

  • Each Noteholder also acknowledges and agrees that this provision is exhaustive on the matters described herein to the exclusion of any other agreements, arrangements or understandings relating to the application of any Statutory Loss Absorption Power to the Notes.

  • For the avoidance of doubt, if a Non-Viability Event occurs on or after such date on which the Non-Viability Loss Absorption Condition referred to in Condition5.4 is dis-applied, the Relevant Regulator or the Issuer following instructions from the Relevant Regulator, may take such action in respect of the Tier 2 Notes as is required or permitted by such Statutory Loss Absorption Regime.

  • No repayment or payment of Relevant Amounts in respect of the Notes will become due and payable or be paid after the exercise of any Statutory Loss Absorption Powers by the Relevant Resolution Authority if and to the extent such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise.

  • If the Bank becomes Non-Viable on or after the Effective Date, the Financial Regulator (or the Bank on instructions from the Financial Regulator) may take such action in respect of the Certificates as is required or permitted by such Applicable Statutory Loss Absorption Regime.

  • If a Non-Viability Event occurs on or after such date, the Relevant Resolution Authority (or the Bank following instructions from the Relevant Resolution Authority) may (without any requirement for the consent or approval of Noteholders or any notice to be given to Noteholders) take such action in respect of the Notes as is required or permitted by such Applicable Statutory Loss Absorption Regime.

  • If the Amendment Option is not specified in the Applicable Pricing Supplement or if the Amendment Option is specified in the Applicable Pricing Supplement but is not exercised by the Issuer, then the Tier 2 Notes will not be subject to the Statutory Loss Absorption Regime and the Non-Viability Loss Absorption Condition will continue to apply to the Tier 2 Notes.

  • Any written-off amount as a result of Statutory Loss Absorption shall be irrevocably lost and holders of such Notes will cease to have any claims for any principal amount and accrued but unpaid interest which has been subject to write-off.

  • If the Issuer exercises the Amendment Option, the Non- Viability Loss Absorption Condition will cease to apply and the Tier 2 Notes will be subject to such minimum requirements of the Statutory Loss Absorption Regime required to ensure that the Tier 2 Notes continue to qualify as Tier 2 Capital with effect from the Amendment Date.

  • Any delay or failure by the Issuer to give notice shall not affect the validity and enforceability of the Statutory Loss Absorption Power nor the effects on the Notes described in this Condition 16.

  • Any indication or actual or perceived increase in the likelihood that Securities will become subject to Statutory Loss Absorption could have an adverse effect on the market price of the Securities.

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