Stay Power definition
Stay Power means the powers of the Resolution Authority, for a limited period of time, to (i) suspend contractual payment or delivery obligations due under a contract with the Issuer when under resolution or in certain circumstances before resolution, (ii) restrict the enforcement of any security interest over any assets of the Issuer and (iii) suspend certain rights of counterparties to, for instance, close out net gross obligations, accelerate future payments or otherwise terminate financial contracts.