Statutory Segregation definition

Statutory Segregation means the statutory protection of the Cover Pool against competing claims for the benefit of the Covered Bondholders, Couponholders, HedgingCounterparties, the Administrator (if appointed and only in respect of its fees and expenses) and (subject to the provisions of Article 29 of the Covered Bonds Communiqué) Other Secured Creditors pursuant to Article 13 of the Covered Bonds Communiqué.Taxation All payments in respect of the Covered Bonds by or on behalfof the Issuer will be made without withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature (“Taxes”), imposed or levied by or on behalf of any Relevant Jurisdiction, unless the withholding or deduction of the Taxes is required by law. In that event, the Issuer will (subject to certain exceptions) pay such Additional Amounts as shall be necessary in order that the net amounts received by the holders of the Covered Bonds, after such withholding or deduction will equal the respective amounts that would have been receivable in respect of the Covered Bonds in the absence of the withholding or deduction. See “Taxation—Certain Turkish Tax Considerations” and Condition 9 (Taxation).All payments in respect of the Covered Bonds will be made subject to any withholding or deduction required pursuant to FATCA or any law implementing an intergovernmental approach to FATCA, as provided in Condition 7.1 (Method of Payment) and, in accordance with Condition 9.1 (Payment without Withholding), no Additional Amount will be payable by the Issuer in respect of any such withholding or deduction.Security for the Covered Bonds In accordance with the Turkish Covered Bonds Legislation,by virtue of the Transaction Documents and pursuant to the Cover Register and any registrations required to update the Cover Register (the “Security Update Registration”), the Cover Pool and the other Transaction Security (including any amounts standing to the credit of the Collection Account), the Designated Account(s), the Hedge Collateral Accounts (other than Excess Hedge Collateral) and the Non-TL Hedge Collection Account(s) (but excluding the Agency Account) will be available to satisfy the obligations of the Issuer under the Total Liabilities (and the claims of Other Secured Creditors) following the occurrence of a Potential Breach of Statutory Test (which is continuing), an Issuer Event (which is continuing) or the service of a Notice of Default (which has not b...
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Examples of Statutory Segregation in a sentence

  • In addition, the Statutory Segregation referred to in Condition 3 (Status of the Covered Bonds) is (or will be, as the case may be) governed by and construed in accordance with Turkish law.CREATION AND ADMINISTRATION OF THE COVER POOLThe Cover Pool .............................

  • In accordance with the Turkish Covered Bonds Law, by virtue of the Transaction Documents, registration of Cover Pool Assets in the Security Register and any Security Update Registration, the Covered Bonds and related Receipts and Coupons are secured by the Cover Pool (which includes all cashflows derived from the Cover Pool) and benefit from Statutory Segregation.

  • So the turnover problem within the preschools seems to be greater than the average turnover in Iceland.The purpose of the research was to inspect the problems that preschool employees experience within their job and workplace as well as their turnover intentions and the reason for those intentions.

  • Statutory Segregation for the Notes, Right of Recourse and Issuer Obligations:The Notes will have the benefit of the statutory segregation provided for by article 62 of the Securitisation Law which provides that the assets and liabilities of the Issuer in respect of each transaction entered into by the Issuer are completely segregated from the other assets and liabilities of the Issuer (património autónomo).

  • Hedging agreements that do not satisfy the requirements of the Covered Bonds Communiqué will not form part of the Cover Pool and hedging counterparties to such hedging agreements will not benefit from the Statutory Segregation over the Cover Pool Assets.

  • In addition, the Statutory Segregation referred to in Condition 3 (Status of the Covered Bonds) is (or will be, as the case may be) governed by and construed in accordance with Turkish law.CREATION AND ADMINISTRATION OF THE COVER POOLThe Cover Pool ..............................

  • The dividend tax - relying upon the certificate of the payer - can be re-claimed by the Hungarian non-natural persons in their tax return for the year 2001.

  • In addition, the selling taxpayer’s SSN must be provided to the buyer.NOMINEE INTEREST OR DIVIDENDSGenerally, when two or more persons own a joint bank or investment account, the Form 1099 showing the applicable interest or dividends for the year is issued to the taxpayer with the first SSN listed on the account.

  • Statutory Segregation for the Notes, right of recourse and Issuer Obligations:The Notes will have the benefit of the statutory segregation provided for by Article 62 of the Securitisation Law which provides that the assets and liabilities (património autónomo) of the Issuer in respect of each transaction entered into by the Issuer are completely segregated from the other assets and liabilities of the Issuer.

Related to Statutory Segregation

  • Statutory Surplus means, with respect to any Insurance Subsidiary at any time, the statutory capital and surplus of such Insurance Subsidiary at such time, as determined in accordance with SAP ("Liabilities, Surplus and Other Funds" statement, page 3, line 25 of the Annual Statement for the 1995 Fiscal Year entitled "Surplus as Regards Policyholders").

  • STATUTORY OFF means the off day per week or the compensatory off day in lieu thereof which the Transport Supplier is required to give to his/her operating crew as per the Motor Transport Workers Act, 1961 in respect of which adequate relief driver/crew shall be provided at no extra cost.

  • Statutory Statements has the meaning set forth in Section 3.6(a).

  • Statutory Statement means a statement of the condition and affairs of the Company, prepared in accordance with SAP, and filed with the Applicable Insurance Regulatory Authority.

  • Government energy aggregation program means a program and

  • Seller 401(k) Plan has the meaning set forth in Section 5.5(e).

  • Provisional items means items for which approximate quantities have been included in the tender documents.

  • Aggregation Group means either a Required Aggregation Group or a Permissive Aggregation Group as hereinafter determined.

  • Buyer 401(k) Plan has the meaning set forth in Section 6.01(h).

  • Data Aggregation shall have the meaning given to such term under the HIPAA Privacy 32 Rule in 45 CFR § 164.501.

  • Congregation means the Congregation of the University referred to in Statute IV;

  • Statutory Requirements means all approvals, consents, permits, or licences necessary for the purposes of the Project from the State, any government department, authority, instrumentality or local government authority, and includes, without limiting the generality of the foregoing, all approvals, consents, permits, and licences, for engineering drawings, construction plans, earthworks and structures necessary for the purposes of the Project;

  • Seller Plan means any Employee Benefit Plan maintained, or contributed to, by the Seller or any ERISA Affiliate.

  • Asset Coverage means asset coverage, as determined in accordance with Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Fund which are stock, including all Outstanding Series A Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act as the minimum asset coverage for senior securities which are stock of a closed-end investment company as a condition of declaring dividends on its common stock), determined on the basis of values calculated as of a time within 48 hours (not including Saturdays, Sundays or holidays) next preceding the time of such determination.

  • Required Aggregation Group means: (i) each qualified plan of the Employer in which at least one Key Employee participates at any time during the Determination Period; and (ii) any other qualified plan of the Employer which enables a plan described in clause (i) to meet the requirements of Code Section 401(a)(4) or of Code Section 410.

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Company 401(k) Plan has the meaning set forth in Section 6.4(e).

  • Statutory Financial Statements means, with respect to any Party, the annual and quarterly statutory financial statements of such Party filed with the Governmental Authority charged with supervision of insurance companies in the jurisdiction of domicile of such Party to the extent such Party is required by Applicable Law to prepare and file such financial statements.

  • 1940 Act Asset Coverage means “asset coverage,” as defined for purposes of Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Fund which are shares of stock for purposes of the 1940 Act, including all outstanding MuniFund Term Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act or by rule, regulation or order of United States Securities and Exchange Commission as the minimum asset coverage for senior securities which are shares of stock of a closed-end investment company).

  • Distribution System Code means the code approved by the Board which, among other things, establishes the obligations of the distributor with respect to the services and terms of service to be offered to customers and retailers and provides minimum, technical operating standards of distribution systems;

  • Statutory Rape means sexual intercourse with a person who is under the statutory age of consent.

  • Subsidy Funds With respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts.

  • Free appropriate public education means special education and related services that:

  • Medicare Advantage plan means a plan of coverage for health benefits under Medicare Part C as defined in 42 U.S.C. 1395w-28(b)(1), and includes:

  • Death master file match means a search of the death master file that results in a match of the social security number or the name and date of birth of an insured, an annuity owner or a retained asset account holder.[PL 2017, c. 129, §1 (NEW).]

  • Compliance Aggregation Area or “CAA” shall mean a geographic area of Zones or sub-Zones that are electrically-contiguous and experience for the relevant Delivery Year, based on Resource Clearing Prices of, for Delivery Years through May 31, 2018, Annual Resources and for the 2018/2019 Delivery Year and subsequent Delivery Years, Capacity Performance Resources, the same locational price separation in the Base Residual Auction, the same locational price separation in the First Incremental Auction, the same locational price separation in the Second Incremental Auction, or the same locational price separation in the Third Incremental Auction.